Dollar amounts on which individual non-refundable federal tax credits for 2022 are based, and the actual tax credit claimable, will be as follows:
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The indexing factor for federal tax credits and brackets for 2022 is 2.4%. The following federal tax rates and brackets will be in effect for individuals for the 2022 tax year.
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.
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.
Canadians are fortunate to have a publicly funded health care system, in which most major medical expenses are covered by provincial health care plans. Such plans are not, however, comprehensive
Working from home — and certainly work from home arrangements on the scale experienced over the past 19 months — would not be practically possible without the use of technology.
Throughout the pandemic, the federal government has provided businesses with a number of support programs, some of which operated to subsidize the wage and rental costs of those businesses.
Since the Canada Recovery Benefit (CRB) replaced the Canada Emergency Response Benefit (CERB) just over a year ago, more than 2 million individual Canadians have applied for the CRB