Understanding the New Tax Rules for Short-Term Rental Income The Canada Revenue Agency (CRA) has recently announced updates to the rules governing eligible deductions for short-term rental income. These changes, effective for the 2025 tax year, impact individuals who earn income from platforms like Airbnb or VRBO, clarifying what expenses can be claimed to reduce…
Canada Child Benefit 2025: How Much You Can Expect and Key Updates The Canada Child Benefit (CCB) is a tax-free monthly financial support provided by the Canadian government to families with children under 18. It is calculated based on the previous year’s net family income, the number of children, and their ages. As of July…
Looking for a Reliable Income Tax Preparer Near You? Filing your taxes doesn’t have to be complicated or costly! At Serving People Group (SPG), we offer expert tax preparation services with a free taxes option for our members. Whether you’re an individual, a business owner, or a landlord, we have tailored solutions to help you maximize your refund…
What You Need to Know for the 2025 Tax Filing Season in Canada As the 2025 tax season approaches, it is essential for Canadian taxpayers to stay informed about key changes, deadlines, and available benefits to ensure a smooth filing process. The Canada Revenue Agency (CRA) has released important updates and guidelines to help individuals…
Families in Canada have several tax deductions available to them that can significantly impact their finances. Understanding eligibility criteria and maximum claim amounts for the 2023 tax year can aid in maximizing returns. Here’s what you need to know: Canada Child Benefit (CCB) Designed to assist caretakers of children under 18, the CCB can be…
Navigating Canadian Income Tax in 2024: What You Need to Know As we enter a new tax year in 2024, it’s crucial to stay informed about the latest changes and updates to Canadian income tax regulations. The Canadian tax landscape is continually evolving, and understanding these changes is essential for individuals and businesses alike. In…
Maximizing Deductions: Your Key to Optimizing Your Canadian Tax Return Tax season is upon us, and for many Canadians, that means it’s time to gather receipts, crunch numbers, and navigate the complex world of tax deductions. While filing your Canadian tax return may seem daunting, understanding and maximizing your deductions can significantly impact your bottom…
Provincial and Federal Benefits: Understanding Canadian Income Tax As Canadians, we’re fortunate to have access to a wide range of provincial and federal benefits designed to support individuals and families across the country. These benefits come in various forms, from tax credits and deductions to direct financial assistance programs, and understanding how they work can…