Tag: Tax news

If you worked from home in 2023, you may be wondering how to claim home office expenses on your tax return. The Canada Revenue Agency has announced that it will update Form T2200 for the 2023 tax year by the end of January 2024. The updated form will simplify the […]

New rules aimed at providing more transparency on beneficial ownership of assets now require that more trusts (and estates) file tax returns. These changes will catch many individuals and businesses that may not be aware of their trust-like relationships, exposing them to potential penalties and other consequences for non-compliance. The […]

Starting in the 2023 tax year, a $400 tax credit is available to individuals who pay rent and occupied a rental unit in B.C. under a tenancy agreement, licence, sublease agreement or similar arrangement for at least six one-month periods. For the 2023 tax year, the maximum renter’s tax credit […]