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TAXPAYER RELIEF: Financial Hardship

In a January 14, 2021 Federal Court case, the taxpayer sought a judicial review of CRA’s denial to provide interest and penalty relief on a tax debt of nearly $400,000. The taxpayer argued that relief should be granted due to financial hardship…

COVID-19 BENEFITS FOR INDIVIDUALS: Period Extensions

The eligibility periods for several personal income replacement COVID-19 benefits have been extended: the previous limit of 26 weeks for the Canada Recovery Benefit (CRB) and Canada Recovery Caregiver Benefit (CRCB) will be extended by…
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RENTAL PROPERTIES: Major Repair Expenses

In a February 11, 2021 Tax Court of Canada case, the deductibility of rental expenses for a condo unit that underwent major repairs was considered. In 2010, major structural repairs (the exterior repairs) commenced on an entire condo complex.…

EXTENDED WAGE AND RENT SUBSIDIES: Details Released 

On March 3, 2021, the Department of Finance announced details on the Canada Emergency Wage Subsidy (CEWS) and Canada Emergency Rent Subsidy (CERS) for the March 14 - June 5 periods. Later, the Federal Budget (April 19, 2021) announced an extension…
Kerr Kelowna Business Accountant Blog pics
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How To Create Your Online Business CRA Account

Tired of waiting in long queues on the phone to get information from CRA? Business taxpayers can access their business (and personal) CRA accounts online. CRA MY BUSINESS ACCOUNT CRA’s my business account is an easy-to-use online portal…
Kerr Kelowna Accountant Blog pics (12)
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How To Create Your Online Personal CRA Account

Tired of waiting in long queues on the phone to get information from CRA? Individual taxpayers can access their personal (and business) CRA accounts online. CRA MY ACCOUNT CRA’s “my account” is an easy-to-use online portal that allows…