Canada Revenue Agency has outlined changes to the Climate Action Incentive (CAI) for the upcoming year, under the Pollution Pricing system.

The one-time top-up to the Canada Housing Benefit aims to help low-income renters with the cost of renting. You may be eligible for a tax-free one-time payment of $500 if your income and the amount that you pay on rent qualify.

Movember is a worldwide organization that helps raise money, making a difference in mental health, prostate and testicular cancer. They also support many different campaigns and projects each year.

Quarter 4 Reschke Fritz LLP Newsletter

We are thankful we were able to support local, while enjoying the nature and greenspace. We hope everyone had a great Thanksgiving weekend and were able to spend time with family and friends.

Tax instalments are payments you make throughout the year to cover the taxes you normally pay in one lump sum on April 30 of the following year. You pay these instalments during the year while you are earning the income, similar to how an employer deducts tax directly from each pay period.

‘The purpose of this notice is to provide information relating to the application of the luxury tax on certain vehicles. Vehicles that could be subject to the luxury tax include sedans, coupes, hatchbacks, convertibles, sport utility vehicles and light-duty pickup trucks priced above $100,000.’

Come and join us as Reschke Fritz LLP helps sponsor the 2022 Devon Chamber of Commerce Golf Tournament at the Devon Golf & Conference Centre.

The government of Alberta has published some information relating to the some affordability and relief programs.

The government of Canada introduced a national, annual 1% tax on the value of non-resident, non-Canadian-owned residential real estate in Canada that is considered to be vacant or underused, subject to certain exceptions. This was passed into law with Bill C-8 receiving Royal Assent on June 9, 2022. This tax is effective for 2022, and later calendar years.

As a taxpayer, you should be cautious if you receive any communication that claims to be from the Canada Revenue Agency (CRA) and requests personal information such as a social insurance number (SIN), credit card number, bank account number, or passport number

The Government of Canada has introduced the “Canada Digital Adoption Program” (CDAP) which offers a grant to support Canadian-owned small and medium sized enterprises (SMEs) who want to adopt new digital technologies.

There have been some changes effective January 1, 2022 regarding the purchase and lease cost limits and expense reimbursements for tax purposes.

Click here to read our 2022 Quarter 2 newsletter.

The Government of Canada has recently announced the December 31, 2022 forgiveness repayment date will be extended to December 31, 2023 for eligible CEBA loan holders in good standing.

On behalf of Reschke Fritz LLP, we want to give a big shout out and many thanks to our team for putting in the many and long hours to get us to the end, with smiles on the whole way. We also want to thank our clients who have worked with us and we appreciate and value your continued patronage with us.

To learn more about the 2022 Federal Budget please take a moment to read our Federal Budget Commentary

This year the annual Canadian Ag Day event is on February 22. This day has become popular on social media in Canada with the hashtag #CdnAgDay trending for the last few years

As of February 21, 2022, your tax returns can be filed with Canada Revenue Agency (CRA)