With the holiday season approaching, income tax issues for the current year are unlikely to be top-of-mind for most Canadians — and planning for taxes for the upcoming 2022 tax year may seem too remote to even be considered.
December 2021 - Akler Browning LLP
Latest news and regulations from the financial world.
During the month of December, it’s customary for employers to provide something “extra” for their employees, by way of a holiday gift, a year-end bonus, or an employer-sponsored social event.
For individual Canadian taxpayers, the tax year ends at the same time as the calendar year. What that means for individual Canadians is that any steps taken to reduce their tax payable for 2021 must be completed by December 31, 2021.
In October, the federal government outlined the next stage of its pandemic recovery benefit programs, which focused on provided support to businesses in the economic sectors hit hardest by the pandemic.