All-Year Business Center Blog
We are pleased to provide a variety of resources on accounting, taxation and other related subjects that we hope will be helpful to both individuals and businesses.
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Are you or your child living with Type 1 Diabetes? You may qualify for a disability tax credit when you file your taxes. Check out the Diabetes Advocacy website to learn how to qualify for this tax credit. If you qualify for prior years we can amend your tax returns to get you tax refunds. If you think you may qualify please take action right away because Canada Revenue could change the rules to qualify at any time. There are also other conditions that are eligible for the Disability Tax Credit. Check out the Canada Revenue website or speak to a team member for more details.
Contributions to an RRSP from January 1, 2017 to the first 60 days of 2017 can be deducted against your 2016 income. You must declare your total contributions. The maximum that is tax deductible is your contribution limit per your notice of assessment. Any unused RRSP contribution in excess of the $2,000 is subject to penalties by Canada Revenue Agency (CRA) of 1% per month.