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Claiming Home Office Expenses
While the majority of Canadian employees still travel to the office at the beginning of each working day, there has been a huge increase over the past decade or so in the number of Canadian who work, on a part-time or a full-time basis, from a home office. Such an arrangement can work to everyone's benefit: the worker is spared the cost and aggravation of the daily commute and, where a significant number of employees work at least part-time from home, the employer's costs of maintaining office space, usually in expensive urban markets, can go down... read more

Moving expenses – what’s deductible and when?
A number of factors converged to make the real estate market of the spring of 2010 one of the busiest in recent memory. House prices have been on the rise for some time, interest rates (and therefore mortgage rates) are expected to increase in the second half of this year, and more stringent rules on qualifying for mortgages took effect in April 2010. In addition, both Ontario and British Columbia are moving to a harmonized sales tax effective July 1, 2010, meaning that there will be increased tax payable on a number of services associated with buying or selling a home... read more

The Cost of Commuting: Claiming the Public Transit Tax Credit
With summer at an end, the daily trek to work and to school has resumed, and for millions of
Canadians, that means availing themselves of public transit. While the commute to work or to
school is unlikely to be the best part of anyone’s day, there may be some solace in the fact that
the cost of that commute is subsidized, to a degree, by our tax system... read more

The tax benefits of working from home
A number of circumstances and developments have come together over the past few years to make working from a home office, once almost unknown, a common fact of business life. First and foremost, of course, is the technology, particularly communications technology, which enables the home-based worker to have access to all of the information and services available to his or her in-office counterpart...
read more

Tax Tips

If you were away from your job this year due to injury or disability, the benefits that replaced your wages are completely tax-free if you paid all the premiums to the plan. The wage replacement is taxable if your employer paid the premiums. But they are partially tax-free if both you and your employer contributed to the premiums.

The caregiver credit is one of the most overlooked tax credits even though statistics show more Canadians are looking after family members at home. If you provide in-home care to a parent or grandparent age 65 or older, or to any dependent relative who is 18 or over and infirm, see if you can claim the caregiver amount.

RSS News: Canada Revenue Agency

Interest rates for the fourth calendar quarter September 7, 2010
Minister Keith Ashfield announces the winners of the second CRA YouTube video contest August 6, 2010
Reminder: TFSA return deadline extended to August 3rd July 26, 2010