December 31 , 2024 marks not just the end of the calendar year, but the end of the 2024 tax year for every individual Canadian taxpayer. And while the thoughts of most Canadians during the holiday season are focused on anything but their 2024 income taxes, the reality is that December 31 can be a critical date when it comes to determining how much income tax one will pay for 2024.
While the need for charitable donations for any number of causes is a year-round reality, appeals for such donations tend to increase as the holiday season and the end of the calendar year approach.
As the pandemic dragged on into 2022, many employees continued to work from home for pandemic-related reasons.
For individual Canadian taxpayers, the tax year ends at the same time as the calendar year. And what that means for individual Canadians is that any steps taken to reduce their tax payable for 2022 must be completed by December 31, 2022.
In March of this year, in response to the pandemic, the federal government announced and rolled out a number of benefit programs to assist individuals who had experienced a pandemic-related interruption in earnings.
