What IF…You OWE Income Tax? While the majority of the population can expect a return from income tax filing; every individual or family’s tax circumstances are unique. To find out if you will have a refund or owe taxes, it is important to file all your outstanding tax returns. Getting
Tag Archives: income tax
The Covid-19 pandemic brought financial hardship to millions of Canadian residents and they sought the support of government benefits. People who received COVID-19 emergency or recovery benefit payments in 2021 ask these 5 questions during this tax season; 1. Will the COVID-19 benefit payments affect my 2021 taxes? YES. If
Taxes are to be filed by today, April 30th, 2021. If you have missed filing your taxes on time, you can still file…but do so as soon as possible to avoid potential penalties. Here are some things to know: If you owe taxes because of COVID-19 related benefits, the Canada
How do the COVID-19 benefits impact your income tax return? If you received the Canada Emergency Response Benefit (CERB), Canada Emergency Student Benefit (CESB), Canada Recovery Benefit (CRB), Canada Recovery Sickness Benefit (CRSB), or Canada Recovery Caregiving Benefit (CRCB) payments, these are considered taxable income, and you will have to
Many local tax preparation clinics for low income individuals and couples are limited or postponded due to Covid-19 but there are some options.
Needing assistance with filing your 2019 income tax? The Federal Government has extended the deadline for personal income tax filing to June 1, 2020. Due to the restrictions of the Covid-19 pandemic, many agencies that administer the “Community Volunteer Income Tax Program” (free tax filing services to low income
The Bruce Grey Poverty Task Force and Grey Bruce Health Unit encourages people with low or modest income to file a tax return. Prosper Canada reports that many low income people can quickly boost their incomes – sometimes by as much as 50% – if they claim and receive all the government