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TN CPA Professional Blog

The TN CPA Team is your source for the latest Canadian tax news and updates on changing tax laws.

We are pleased to provide a variety of resources on accounting, bookkeeping taxation, and other related subjects that we hope will be helpful to both individuals and businesses.

If you have any questions, simply contact us by email or call 416-318-6789. We will be happy to meet with you for a free, no-obligation consultation.


Tax Deductible Medical Expenses in Canada

With the end of the year fast approaching, we thought it would be timely to discuss the medical expense deduction on your tax return.

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Shopping Local and Staying Healthy

As the holiday season approaches, and with all of the news of late about the FLU season and the ongoing COVID-19 pandemic, we thought it would be good to pass along some ideas on how to stay safe while supporting small businesses.

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CRA Tax Updates for October 2022

October 31, 2022

Update on electronic notices of assessment

Finance Canada recently proposed legislation that would allow the Minister of National Revenue to provide a notice of assessment (NOA) electronically to an individual who filed their personal income tax return electronically and has authorized that notices or other communications may be made available in this manner. 

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What is Fraud, and How You Can Tell?

With all of the recent press about Ransomeware attacks on various companies and publicity about people being targeted during the COVID-19 Pandemic, it is timely to remind you that the fight against fraud starts with you. Learn to recognize, reject and report it.

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Can you afford to be without a Business Plan?

Plan for overall success - Not just for financing

Your business plan is as much of a road map of where you are going as it is to provide the information a lender will require before advancing funds to meet your needs. It serves both internal and external guidance. Internally, it will assist you in managing cash flow, capital expenditures, and periodic issues. It is your crystal ball to guide your firm’s future. Externally it may include those who could be a part of your financial requirements, investors, a bank, or your suppliers.

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Cập nhật các chương trình hỗ trợ doanh nghiệp bị ảnh hưởng do Covid 19.

New Canada Emergency Rent Subsidy (CERS) – chương trình h tr tin rent cho business tiếp theo chương trình cũ CERCA (h tr 75% tin rent)

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CRB Checklist

CRB là chương trình hỗ trợ $1,000 cho mỗi 2 tuần bắt đầu từ Sep 27, 2020 đếnSep 25, 2021 (tổng cộng 26 kỳ) và bắt đầu apply từ Oct 12.  Để tiện cho khách hàng và website vistor theo dõi và download, chúng tôi chuẩn bị check list dưới đây dựa trên thông tin cập nhật của cơ quan thuế Canada (CRA).  Nếu có câu hỏi gì, vui lòng email This email address is being protected from spambots. You need JavaScript enabled to view it..

Tham khảo

https://www.canada.ca/en/revenue-agency/services/benefits/recovery-benefit/crb-who-apply.html#h-1

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Canada's Covid 19 Economic Response Plan

Below is the updated overall information on Canada's COVID-19 Economic Response Plan from CRA's official portal.  Should you have any questions, please do not hesitate to contact us at This email address is being protected from spambots. You need JavaScript enabled to view it.

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What happens if I over-contribute to my Registered Retirement Savings Plan (RRSP)?

Contributions to an RRSP from January 1, 2017, to the first 60 days of 2017 can be deducted from your 2016 income. You must declare your total contributions. The maximum that is tax deductible is your contribution limit per your notice of assessment. Any unused RRSP contribution in excess of $2,000 is subject to penalties by the Canada Revenue Agency (CRA) of 1% per month. 

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TN CPA Professional
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Mississauga, ON
L4Z 1V9

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