Resources
CRA My Busines Account
CRA Account for Individuals
Child Tax Benefits
The Canada Child Benefit (CCB) is administered by the Canada Revenue Agency (CRA). It is a tax-free monthly payment made to eligible families to help with the cost of raising children under 18 years of age. The CCB may include the child disability benefit and any related provincial and territorial programs.
Disability Tax Credit
The Disability Tax Credit (DTC) is a non-refundable tax credit that helps people with impairments, or their supporting family member, reduce the amount of income tax they may have to pay.
If you have a severe and prolonged impairment, you may apply for this credit. If you are approved, you may claim the credit at tax time.
By reducing the amount of income tax you may have to pay, the DTC aims to offset some of the extra costs related to the impairment.
Home office expenses for Employees
As an employee, you may be able to claim certain home office expenses (work-space-in-the-home expenses, office supplies, and certain phone expenses).
This deduction is claimed on your personal income tax return. Deductions reduce the amount of income you pay tax on, so they reduce your overall income tax liability.
Business use of Home Expenses
You can deduct expenses for the business use of a workspace in your home, as long as you meet one of the following conditions:
• it is your principal place of business
• you use the space only to earn your business income, and you use it on a regular and ongoing basis to meet your clients, customers, or patients
British Columbia Ministry of Finance
Personal income taxes – CRA Interest and Penalties for individuals
If you file or pay your taxes late, CRA will charge interest and penalties on a balance owing. Here are some options available on how to cancel or waive interest or penalties and when you may be eligible for interest relief.
Corporation Tax Rates
Personal Tax Rates
When to file your Corporation Tax Return
File your return no later than six months after the end of each tax year. The tax year of a corporation is its fiscal period.
When the corporation’s tax year ends on the last day of a month, file the return by the last day of the sixth month after the end of the tax year.
When the last day of the tax year is not the last day of a month, file the return by the same day of the sixth month after the end of the tax year.