Category: Canada – Tax

Last updated: July 17, 2025. All references are to Canadian federal income tax rules administered by the Canada Revenue Agency (CRA) unless noted. Provincial/territorial rules generally parallel the federal framework but may vary; always confirm with current CRA publications and your provincial...

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Every year, thousands of Canadians find themselves scrambling to file their taxes before the Canada Revenue Agency (CRA) deadline. Whether you missed the deadline due to a hectic schedule, illness, confusion over paperwork, or financial hardship, the consequences can be...

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Last updated: July 17, 2025. Figures current to the most recently published CRA guidance for the 2024 tax year; federal threshold amounts are indexed annually, so confirm the fixed threshold for the 2025 tax year on the CRA website before you file....

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Last updated: July 17, 2025. Figures current to the most recently published CRA guidance for the 2024 tax year; federal threshold amounts are indexed annually, so check for 2025 updates before you file. This article explains the Medical Expense Tax...

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Quick Answer (Featured Snippet‑Ready): If you file your Canadian income tax return after the deadline and you have a balance owing, the Canada Revenue Agency (CRA) will generally charge a late‑filing penalty of 5% of the balance owing plus 1%...

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Quick Answer (Featured Snippet‑Ready): In Canada, child support paid under a court order or written agreement with a commencement day after April 30, 1997 is neither taxable to the recipient nor deductible to the payer. Older (pre‑May 1, 1997) agreements...

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When it comes to paying your taxes in Canada, missing a deadline or failing to remit what you owe can quickly lead to a cascade of additional charges from the Canada Revenue Agency (CRA). These charges—interest, penalties, and collection actions—can...

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Income splitting is a legitimate and often effective strategy Canadian couples use to reduce their overall tax burden. It involves shifting income from a higher-income spouse or common-law partner to the lower-income partner, thereby taking advantage of the progressive tax...

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Charitable giving is not only a way to support the causes you care about but also a strategic tool for optimizing your tax refund. When you donate to qualified organizations, you may be eligible for tax credits or deductions that...

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Filing taxes can be a time-consuming task, especially if you have multiple income slips, deductions, and credits to keep track of. Fortunately, the Canada Revenue Agency (CRA) offers a powerful feature called Auto-fill My Return to help simplify and accelerate...

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