Tax, Tips, and Traps – 1st Quarter
Check out our latest newsletter highlights for key updates in tax and finance. Click the link below for more details:
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New Trust Reporting: Learn about changes affecting trust filings, including expanded reporting for bare trusts.
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Automobile Deduction and Benefit Rates: Explore 2024 limits for deductible allowances, leasing costs, and taxable benefits.
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T-Slips: Filing and Distribution: Navigate changes in T4 and T4A reporting, electronic distribution options, and new filing thresholds.
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Personal Services Business: Get updates on CRA’s initiative targeting PSBs and understand the compliance phases.
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Working From Home Expenses: Learn about changes to claiming home office expenses in 2023.
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Canada Dental Care Plan (CDCP): Discover details about the new income-tested dental plan and its rollout.
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Farm Losses Restriction: Explore a recent Tax Court case limiting deductions for farming businesses.
To see the newsletter, click here.