did you know!

notice of assessment

CRA now processes your E-Filed return so rapidly that your Notice of Assessment may not show any payment you made when your return was filed. Check your account on the CRA website if you are signed up for MY ACCOUNT.

a new way to pay your taxes!

You can now pay your personal income taxes by cash or debit card at Canada Post. A QR code must be generated using CRA’s online service. Each payment is limited to a maximum of $1,000 and has a service fee of $3.95.

elimination of the transit pass

CRA eliminated the tax credit for transit passes for the use of public transit services as of 30 June 2017. Transit passes for January – June 2017 can still be claimed on your 2017 income tax return.

SENIORS – 65 years and older are eligible to claim the NEW Ontario Seniors' Public Transit Tax Credit starting on July 1st 2017. Public transit must be by either bus, subway, train or tram and specialized transit for people with disabilities are eligible. Receipts are required.

selling your home

In most cases, you won’t pay tax on the money you make from selling your home – if it was your principal residence every year since you bought it. You must report the sale of your home on your tax return in the year it is sold. Severe penalties could apply for failure to report the sale.

If you used your home or part of your home to generate rental income, you may be required to pay tax on realized capital gains.

scams

Please be aware that there are more scams out there than ever. CRA will NEVER request personal or financial information through unsolicited email links or take payment using prepaid credit cards or gift cards. They will NEVER phone you and demand payment of a tax debt that you are totally unaware of. They will never threaten imprisonment or sending the police to your door. If you are the recipient of a threatening phone call either hang up and call your tax preparer/advisor or call CRA at 1-800-959-8281 to verify your tax filing information. Do not give personal information such as your social insurance number, credit card number, bank account information or passport number to anyone.

children’s fitness and arts credit, family tax credit.

These credits have been eliminated for the 2017 tax year.

electronic T4 delivery

The CRA is now allowing some employers to deliver T4s to their employees electronically. If you receive your T4 from your employer electronically by email, please forward the email to either Sherri@FileRite.ca or Sandy@FileRite.ca

useful links

• Canada Revenue Agency
• Service Canada
• Ontario Ministry of Labour
• Canada Postal Codes
• Canada 411
• Check your internet speed