Incorporating Your Business: A Step Towards Stability
Incorporating a business in Canada offers numerous advantages, especially in a changing economic landscape. As […]
If you were a salaried employee or an employee who earned commissions in the year, you can deduct certain expenses that you were required to pay under the terms of your employment contract. Complete form TP-59-V, Employment Expenses of Salaried Employees and Employees Who Earn Commissions, and enclose it with your income tax return. Your employer must complete and sign form TP-64.3-V, General Employment Conditions.
You can no longer claim a deduction for expenses related to working remotely because of the COVID-19 pandemic. The deduction was a temporary measure for 2020 to 2022 that let you claim $2 for each day you worked from home, to a maximum of $500.
For more information: Expenses Related to Working Remotely Because of the COVID-19 Pandemic (TP-59.S-V)
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You must prepare an RL-24 slip if you provide childcare services (e.g. you operate an […]
Issue 2017-01 of the Businesses – Tax information newsletter is now available. Source Link Businesses – […]
If you’re an individual Effective January 1, 2025, when you buy or sell a used motor vehicle that’s […]
Starting a business can be an exhilarating yet daunting endeavor. In today’s fast-paced economic environment, […]