By Ravi’s Accurate Tax Services | Updated October 8, 2026 Payroll involves more than sending an employee their net pay. A consistent process helps you calculate deductions, remit the correct amount and prepare accurate year-end slips. Set up before the first payment Review whether the worker is an employee, register a CRA payroll program account when required, and collect the employee’s SIN and completed federal and applicable provincial or territorial TD1 forms. Keep the pay

By Ravi’s Accurate Tax Services | Updated October 8, 2026 Being paid through a corporation does not automatically make a truck driver’s income eligible for ordinary small-business tax treatment. Review the actual working arrangement before relying on a low corporate tax rate or claiming business expenses. What is a personal services business? Generally, PSB rules can apply when an individual provides services through their corporation and would reasonably be an employee of th

By Ravi’s Accurate Tax Services | Updated October 8, 2026 Keep your sports and activity receipts, but check the current rules before expecting a tax credit. Older articles about children’s fitness credits can be misleading when used for today’s return. Federal and Ontario credits ended The federal children’s fitness tax credit was eliminated beginning with the 2017 tax year. Ontario’s children’s activity tax credit also ended on January 1, 2017. These former programs do not p

By Ravi’s Accurate Tax Services | Updated October 8, 2026 Your first Canadian tax return involves more than collecting Canadian slips. Income earned abroad can affect your return and benefit calculations, so prepare information for the correct periods. First establish tax residency Tax residency depends on your circumstances and residential ties. Immigration status alone does not settle the question. Tell your preparer when you arrived, where you lived, and when your spouse a

By Ravi’s Accurate Tax Services | Updated October 8, 2026 Moving for a new job, business location or full-time post-secondary study may qualify for a tax deduction. Start by checking the reason for the move, the distance and the income available to support your claim. Understand the distance test Your new home must be at least 40 kilometres closer to the new workplace or school, measured using the shortest usual public route. Moving 40 kilometres by itself does not establish

By Ravi’s Accurate Tax Services | Updated October 8, 2026 Medical bills can add up quickly. Before filing, gather your family’s receipts and insurance statements so eligible costs are reviewed together. A receipt alone does not establish eligibility: some items require a prescription or certification. What may qualify Eligible dental treatment, prescription medicines, prescribed eyeglasses and certain private health services plan premiums may qualify under CRA rules. Check th

By Ravi’s Accurate Tax Services | Updated October 8, 2026 The Canada Workers Benefit (CWB) is a refundable tax credit for workers and families earning a low income. It includes a basic amount and a disability supplement for eligible people. The amount depends on your income, family circumstances and province or territory. Basic eligibility You generally need working income, income below the applicable limit, and Canadian residency throughout the year. You must be at least 19

By Ravi’s Accurate Tax Services | Updated October 8, 2026 Paying rent may help you qualify for the Ontario energy and property tax credit (OEPTC), which is paid through the Ontario Trillium Benefit. Rent does not guarantee a payment: eligibility and the amount depend on your circumstances and family income. How to apply For the 2026 benefit, file your 2025 tax return and complete the applicable sections of Form ON-BEN. The Ontario sales tax credit is assessed from your return