The Canada Revenue Agency (CRA) has released forms to allow tax-free first home savings account (FHSA) holders to transfer assets from their accounts to their RRSP, RRIF or to another FHSA. While the ...

The Canada Revenue Agency (CRA) has launched a new digital process for applying for the disability tax credit (DTC) that the agency says will simplify and speed the application process. “This new ...

The Canada Revenue Agency published three new forms on Thursday related to the tax-free first home savings account (FHSA). Two of the forms relate to the death of the account holder: RC722 – Transfer ...

Taxpayers may get penalized for not reporting beneficial ownership information for a trust because they assume the Canada ...

The CRA said it would provide arrears interest and penalty relief to corporations and trusts that had to file a return by March 3, 2025 without access to updated CRA forms reflecting the new ...

If the court order or separation agreement only provides support for a spouse, then the payments are fully taxable to the recipient and tax deductible to the payor. To ensure tax deductibility, the ...

A T1 General 2010 tax form is pictured in Toronto on April 13, 2011. The tax rules are changing in 2016 and even if Canadians don't make enough to be hit by the new top federal income tax rate ...