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Taxation

Taxation

Two new tax deductions from 2020.

There are two new tax credits to consider for your personal return, starting with tax year 2020. 1. To help Canadian workers acquire the skills they need to succeed in a changing world, the federal government is establishing a new…
bitcoin
Taxation

Cryptocurrency in tax return 2020

Virtual currency (like bitcoin): added a new box on TP-1 (the 2020 tax return). A new box has been added on the TP-1, namely box 24. It is on the first page of the tax return and it is indicated…
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MiscellaneousTaxation

Information for truckers.

The Canadian Trucking Alliance (CCA) has put a lot of pressure on the CRA in recent years to end what it calls the “Driver Inc.” employment model. The ACC denounces that carriers will use this model even more, if nothing…
LegalTaxation

Quebec Tax Law Introduced Additional Article

A tax year generally becomes time-barred after the expiration of a period of 3 years following the first notice of assessment relating to an income tax return filed for the given tax year. For example, the 2016 tax year should…
bitcoin
Taxation

Cryptocurrency, it must be declared!

If you have transactions with Bitcoin or other cryptocurrency during the year 2020, you must report these transactions and pay taxes on the gain made. Here is a link to the Revenu Québec site for information. I will provide more…
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