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RON ALLEN CPA PROFESSIONAL CORPORATION
Publications & News
Publications and recent news on accounting and Canada Revenue Agency.
CRA - Business Video Gallery
Canada Revenue Agency has various videos to answer many of your business related questions. Please click on the link below for more information.
CRA - Individuals Video Gallery
Canada Revenue Agency has videos and recorded webinars for individuals and families. Please clix on the link below for more information.​
CRA - Podcasts
Canada Revenue Agency has audio podcasts that you can subscribe to.
Disability Tax Credit
The disability tax credit (DTC) is a non-refundable tax credit that helps people with disabilities, or their supporting family member, reduce the amount of income tax they may have to pay.
If you have a severe and prolonged impairment, you may apply for the credit. If you are approved, you may claim the credit at tax time. By reducing the amount of income tax you may have to pay, the DTC aims to offset some of the extra costs related to the impairment.
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Principal Residence and other Real Estate
When you sell your home, you may realize a capital gain. If the property was solely your principal residence for every year you owned it, you do not have to pay tax on the gain. If at any time during the period you owned the property, it was not your principal residence, or solely your principal residence, you may have to report all or part of the capital gain.
If you sold property in 2017 or later that was, at any time, your principal residence, you must report the sale on Schedule 3, Capital Gains (or Losses) in 2017 and Form T2091(IND), Designation of a Property as a Principal Residence by an Individual (Other Than a Personal Trust). See Sale of a principal residence for more information.
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Home Office Expenses for Employees
Employees who are required to work from home are entitled to claim the employment portion of actual amounts you paid while you worked from home.
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Allowable Motor Vehicle Expenses
You can deduct your motor vehicle expenses if you meet all of the following conditions:
1. You were normally required to work away from your employer's place of business or in
different places.
2. Under your contract of employment, you had to pay your own motor vehicle expenses.
You are not considered to have paid your own motor vehicle expenses if your employer
reimburses you or you refuse a reimbursement or reasonable allowance from your
employer.
3. You did not receive a non-taxable allowance for motor vehicle expenses. Generally, an
allowance is non-taxable when it is based solely on a reasonable per-kilometre rate.
4. You keep with your records a copy of Form T2200, Declaration of Conditions of
Employment, which has been completed and signed by your employer.
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CRA - Protect yourself against Fraud
Taxpayers should be vigilant when they receive, either by telephone, mail, text message or email, a fraudulent communication that claims to be from the Canada Revenue Agency (CRA) requesting personal information such as a social insurance number, credit card number, bank account number, or passport number.
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