All you need to know about Voluntary Disclosure to CRA
Overview Voluntary Disclosure Program (VDP) is a compliance measure that allows taxpayers to correct mistakes on their previously filed taxes such as disclosing information regarding unreported income, or to file an income tax return that should have been filed. For example, if you realized you forgot to report foreign assets and did not submit T1135 […]
Home Office Expenses incurred during COVID-2019
Temporary Flat Rate VS Detailed Method If you were asked to work from home last year as a result of COVID-19, you may be wondering how you should claim a deduction for home office expense on your personal 2020 income tax return. Canada Revenue Agency (CRA) has simplified the process of claiming working from home […]
