Expenditures for Personal Tax Deductions/ Credits
Did you know…
Certain expenditures made by individuals by December 31, 2020 will be eligible for 2020 tax deductions or credits including:
Ontario Support for Learners funding: Extend to Grade 12
This funding is intended to provide parents and guardians with essential financial support for children and youth during these unprecedented times.
Parents and guardians will receive a one-time payment of $200 for each child up to grade 12, or $250 for each child or youth up to age 21 with special needs.
First Time Home Buyer vs Marital Status
Did you know…When you’re divorced or separated, if in the four year period,
CERB 2020 Tax Tips
Did you know… There is only one month left for some year-end tax planning.
Cottage Rentals
Did you know…If you rent out your cottage on a partial basis. You might be able to partially deduct certain costs.
EI Update Due to COVID-19
Did you know… If you become eligible for EI benefits on or after September 27, 2020
BC Recovery Benefit: Apply on Dec 18, 2020
The BC Recovery Benefit is a one-time, tax-free payment of up to $1,000 for eligible families and single parents and up to $500 for eligible individuals.
Ontario Emergency Assistance: Apply Now
Get short term financial support, Max $733/month if you are in a crisis or an emergency situation and don’t have enough money for things like food and housing.
Canada Emergency Rent Subsidy (CERS) – Apply Now
The Canada Emergency Rent Subsidy (CERS) would provide direct and easy-to-access rent and mortgage support directly to qualifying organizations.
Personal Real Estate Corporations (PREC): Intro
Did you know… As of October 1, 2020, Personal Real Estate Corporations (PREC) has been permitted in Ontario.
Individual Ontario real estate agents will now be able to incorporate their business.
