It’s that time of year where you have to make sure everything is in order for your tax return, the Canadian Revenue Agency (CRA) has changed some criteria for what you can claim on your 2016 taxes. Some of these changes are in regards to; Canada Child Benefit, Family Tax Cut, Dividend Tax credit and to the Small Business Checklist.
In other tax news, the CRA is urging residents to start their claims as soon as possible this year. In addition, due to these changes that could affect your claim, it might be a proactive move to hire or get an accountant to look over your claim. There are also some user-friendly free services available online such as UFile and Turbo Tax, with which you are able to print your return to help you get it checked over before you file.
For more information regarding the changes for 2016 and onwards, you are able to visit the CRA website for more details and other changes that were made.