The Home Accessibility Tax Credit (HATC) is a valuable financial incentive designed to make home renovations more affordable for seniors and individuals with disabilities. This credit aims to facilitate improvements that enhance mobility, safety, and functionality within the home, ensuring…
Introduction In an ever-evolving financial landscape, especially with the introduction of new trust reporting requirements by the Canada Revenue Agency (CRA) for tax years ending after December 30, 2023, it is more crucial than ever to stay informed and compliant…
The Canada Workers Benefit (CWB) is a refundable tax credit that plays a pivotal role in providing financial support and serving as a work incentive for low-income individuals and families in Canada. This benefit is designed to help those who…
Introduction to Trust Taxation As trustees, you wield significant responsibility, overseeing the financial health of a trust and ensuring compliance with Canadian tax law. Navigating the taxation landscape requires a nuanced understanding of trust taxation, and the guidance of seasoned…
The Canada Child Benefit (CCB) is a significant financial support for families with children under the age of 18, offering tax-free payments to those who qualify. For families with two young children, for instance, the monthly checks can exceed $1,000,…
In the realm of estate management, the executor's role transcends mere administrative tasks; it is about upholding a family’s financial legacy through prudent tax planning and foresight. At Shajani, we specialize in steering high-net-worth families and their family-owned enterprises through…
Understanding the Extension of the Foreign Ownership Ban on Canadian Housing: What it Means for Canadians Government announces two -year extension to ban on foreign ownership of Canadian housing 2024-02-04 The Canadian government, under the guidance of Deputy Prime Minister…
Canada Revenue Agency Enforces Tax Integrity: A Recent Conviction Highlights the Importance of Accurate Tax Filings In a recent enforcement action that underscores the importance of integrity within Canada's tax system, the Canada Revenue Agency (CRA) has brought to light…
In the evolving landscape of Canadian economic policy, a transformative proposition has emerged, aimed at harmonizing the aspirations of First Nations communities with the nation's economic framework. Spearheaded by the vision of enabling First Nations to assert greater control over…
The 2023 Update to Form T2200 For the 2023 tax year, the CRA has implemented updates to Form T2200, which is a crucial document for employees who wish to claim deductions for home office expenses. This form must be completed…