There are also a number of provincial and territorial tax credits and programs, such as the Ontario Child Benefit and BC Family Benefit (both related to the federal Canada Child Benefit ...

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A couple with two children could get up to $1,038 per year. You need to do your taxes every year to continue getting the payments you are entitled to receive. New residents of Canada must complete one ...

Good news, Canadian parents—the Canada Child Benefit (CCB) is increasing, and you will soon receive a bigger maximum child tax payment than you're getting right now. The benefit year always ...

Claim Interest on Student Loans On Line 31900 of the income tax return ... such as children, grandchildren, parents, siblings, or other family members who lived in Canada at any time during ...

Learn how capital gains are taxed and how to avoid paying more taxes than necessary when selling your assets. According to Budget 2024, the Canadian ... partner or your kids inhabited the home ...

You’re likely familiar with Ben Franklin’s timeworn quote dating back to 1789: “In this world, nothing is certain except death and taxes ... such as the Canada child benefit and disability ...

In the case of a low- or no-interest loan, where it seems the intention ... What new bare trust tax filing rules mean for Canadians 13. Child support payments cannot be claimed Parents who pay ...

Here are some of the key government measures and proposals outlined in the 2023-24 budget presented by Finance Minister Chrystia Freeland on Tuesday: * boost the inclusion rate on capital gains ...

It allows you to reduce your taxable income — and with it, how much you owe in taxes. If you're a student, your student loan interest payments may be deductible, so it's a good idea to check if ...

If a lender forgives some or all of the loan, you may have to pay taxes on the forgiven loan amount. The IRS allows taxpayers to deduct interest on personal loan funds used for business purposes.

It's also commonly reported that interest paid on home equity loans and HELOCs is deductible on your taxes, yet this is only true when certain circumstances apply. Read on to find out who can ...