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We have been in business for over 20 years and have prepared over 24,000 tax returns of all types.

 

  • Personal Returns
  • Self-employed
  • Rental income
  • Capital gains
  • Final returns (estates for deceased person)
  • Corporate tax returns
  • Trust returns (T3)

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What’s new for 2015:

 

Notice of Assessment - the Notice of Assessment has a new look for 2015 which makes it easier to see the essential information first. The information and layout looks quite different, but don't let it throw you off.

Universal Child Care Benefits (UCC) - The UCC has increased to $160 per month for each qualified dependent under six years old. There is a new benefit of $60 per month for each qualified dependent age six thru 17.

Child Care Expenses - The maximum limit which can be claimed per child has increased $1000 (see form T778).

Family Caregiver Amount for Children under 18 - The amount for children under 18 years old has been eliminated. lt was replaced by the enhanced UCC benefit.

Family Tax Cut - The calculation for family tax cut has been revised to allow unused tuition education and text book amount transferred from a spouse or common-law partner.

Child Fitness Tax Credit - The child fitness tax credit is now a refundable tax credit which means that if you have no taxes to be paid but you have a cost of registration for a prescribed program. The refundable portion of the credit is 15% of the total eligible fees. The child must have been under 16 years of age at the beginning of the year in which the eligible fitness expense was paid.

Tax Free Savings Account - The TFSA annual contribution amount has been increased to $10,000 for 2015.

Penalty for failing to report income - CRA may now charge you this penalty only if the amount of income you failed to report on your return was $500 or more. The calculation of the penalty has changed.

 

According to some surveys the most common mistakes are:

  1. 1. Miss deductions such as medical, transit pass and caregiver credits
  2. 2. Lose or misplace receipts
  3. 3. Unaware of changes to tax laws
  4. 4. Don’t understand how investments are taxed
  5. 5. Don’t understand how to transfer tuition or medical expenses between family members

Do you need help
in one of these situations?

  • You have not filed your return in years
  • You’ve lost all your slips
  • You’ve received a letter from the tax department and you don’t understand why
  • You owe money and the collection department is on your case
  • You have been reassessed and asked for more money but do not agree with Canada Revenue Agency

request a consultation