NEW FOR 2017: TUITION TAX CREDIT AND SCHOLARSHIP EXEMPTION

Federal and provincial tuition tax credits will continue to be available for tuition fees paid to educational institutions in 2017. Beginning in 2017, eligible tuition fees may include fees paid to Canadian educational institutions for occupational…

NEW FOR 2017: FEDERAL EDUCATION AND TEXTBOOK TAX CREDIT

The federal education and textbook tax credits have been eliminated for 2017. Unused education and textbook credit amounts carried forward from years prior to 2017 will remain available to be claimed in 2017 and subsequent years….

New for 2017: Canada Caregiver Credit

The Canada caregiver credit is a new non-refundable tax credit that consolidates the caregiver credit, the family caregiver credit, and the credit for infirm dependants age 18 or older. The Canada caregiver credit is largely the…

Cryptocurrencies

By Kevin Walsh. During 2017 we have seen a dramatic rise in cryptocurrency transactions such as Bitcoin and other blockchain based cryptocurrencies. The CRA’s current position is that cryptocurrencies are considered property for Canadian income tax…

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