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Tax Tips for our Clients

This blog is a high-level summary of the most recent tax developments applicable to business owners, investors and high-net-worth individuals.

If you have any questions, please contact our office.

Tax Tidbits for Q4 2023

Some quick points to consider…

  • CRA has produced various basic tax education and literacy tools, such as seven learning modules with videos and quizzes.
  • As of January 1, 2024, where more than five information returns of a particular type (such as T4s, T5s, T3s, T4As, NR4s and T5018s) are filed on paper (as opposed to electrically) for a particular filer, a penalty of $125/form will apply. Businesses filing five or fewer forms can still do so on paper without penalty.
  • Renovations to create a safe play and therapy area for a child with a mental impairment could be eligible for the home accessibility tax credit.


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Saturday, 02 December 2023

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