Watch out for changes in your pay cheque in 2019. CPP contributions will increase to 5.1% from 4.95% on earnings between $3,500 and $57,400. The increase will eventually pay for the new enhanced CPP.
This will be partially offset by a decrease in EI premiums, 1.62% fro...
The Ontario children’s activity tax credit (line 6309) and the Ontario healthy homes renovation tax credit (line 6311) have been eliminated.
In addition, taxpayers who reside in Ontario at the end of the current taxation year, who were at least 65 years old on the last...
Note that the public transit amount is eliminated as of July 1, 2017. Therefore, for 2017, only fees paid for the use of commuter public transit services for the period from January 1, 2017, to June 30, 2017, are eligible for the public transit amount.
The children's fitness tax credit has been reduced from $1,000 to $500 and will be eliminated entirely in 2017. The children's arts tax credit has been reduced from $500 to $250 and will also be eliminated in 2017
Starting in 2016 you are required to report basic information on the sale of your principal residence. You do not have to pay capital gains tax on any gain if you did not use any part of it to earn income.