Usefull links and resources

Crypto Currency and  Taxes

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Personal Income Tax

Get the latest news and changes directly from CRA website

What's new for 2024 

Air quality improvement Tax credit

If you were a member of a partnership in 2023, you can claim the amount of the credit allocated to you by the partnership for its fiscal period ending in 2023.

The amount allocated to you is shown in box 238 of your T5013 slip or in a letter provided to you by the partnership.

Enter on line 47557 of your return the total amount allocated to you from all partnerships.

Foreign Assets

If you hold foreign assets totaling over $100,000 (cost basis), CRA requires a T1135 form, which must be submitted by your tax return due date. The penalty for late filing is up to $25 per day to a maximum of 100 days and is strictly enforced by CRA. T1135 - Foreign income verification statement  

Change in marital status

If your marital status changes during the year, you must inform CRA within one month of the change by filing a RC65 form. Form RC65 

When a couple separates or divorces, the Child Tax Credit can be shared. 

Reporting the sale of Principal Residence

The disposition (sale or change in use) of a principal residence must be reported on the tax return in order to qualify for the capital gains exemption. There are costly penalties for failure to comply. Principal Residence Deposition 

All that you need to know about GST/HST

General Information for GST/HST Registrants 

GST/HST Instalments 

If you are an annual filer and your net tax for your previous fiscal year is $3,000 or more, you may have to make quarterly instalment payments in the current fiscal year. 

Multigenerational home renovation tax credit (MHRTC)

The Multigenerational home renovation tax credit (MHRTC) is a new refundable tax credit that can be claimed on your income tax and benefit return starting in tax year 2023. 

Instalment Payments for Self-Employed


If you are a self-employed individual and earn business, professional, or commission income, you may have to make instalment payments.

Instalment payments are due on:

If you earn farming and fishing income, instalment payments are due December 31.

There are different methods that can be used to calculate instalment payments. To determine which calculation method is best for you Click Here 

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