Income Tax Deadline Extension

Michelle Mak Finance, Newcomer Information, Updates Leave a Comment

On March 18, 2020, Prime Minister Justin Trudeau announced new measures to help stabilize the economy during this time. One of the measures is flexibility for tax payers. “In order to provide greater flexibility to Canadians who may be experiencing hardships during the COVID-19 outbreak, the Canada Revenue Agency will defer the filing due date for the 2019 tax returns …

2019 Income Tax Package

Michelle Mak Finance, Newcomer Information Leave a Comment

If you filed on paper last year, you will receive through mail from the Canada Revenue Agency (CRA), an income tax package and the forms and schedules book by February 17, 2020. For extra copies of this package, you can visit Canada.ca/taxes-general-package. You can also order the Forms and Schedules Book at Canada.ca/get-cra-forms or call CRA at 1-855-330-3305. For more …

RRSP Deadline Coming Up

Michelle Finance

An RRSP is “Registered Retirement Savings Plan”. You can set up an RRSP through a financial institution such as a bank, credit union, trust or insurance company. Your financial institution will advise you on the types of RRSP and the investments they can contain. Any income you earn in the RRSP is usually exempt from tax as long as the …

Free Income Tax Return Clinics for Newcomers

Settlement ISC Community, Finance, Newcomer Information

Immigrant Services Calgary will be hosting free Income Tax Return Clinics for newcomers who are eligible. These income tax return clinics will be run by volunteers and available at the Immigrant Services Calgary office. The schedule for the income tax return clinics will be released early 2020. To ensure you will have an appointment with an income tax return volunteer, make an appointment with a settlement counselor so you are notified when it is available.

Apply for the GST/HST Credit

Settlement ISC Community, Finance, Updates

The Goods and Services/Harmonized Sales Tax (GST/HST credit) is a tax-free quarterly payment that helps individuals and families with low and modest incomes offset all or part of the GST or HST that they pay.

Increase in Canada Child Benefit

Settlement ISC Community, Finance, Updates

Starting in July 2019, the Canada Child Benefit is increasing. The maximum annual benefit has increased to $6,639 per child under the age of 6 and to $5,602 per child age 6 to 17. This will give parents more money each month to keep up with the cost of living, as well as help them provide for their kids.

Increased Canada Child Benefit Payments coming July 2019

Settlement ISC Community, Finance, Updates

On May 6 2019, the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, announced that the Canada Child Benefit will be raised again starting July 20, 2019. This means that in the 2019 – 2020 benefit year, the maximum benefit will be $6,639 per child under the age of 6 and $5,602 per child aged 6 – 17.

Income Tax Return Deadline 2019

Settlement ISC Community, Finance, Updates

Income tax return deadline this year is on Monday, April 30th 2019. Immigrant Services Calgary is offering free income tax return clinics. If you are modest income and have simple tax situation, you can book an appointment with a settlement counselor to partake in the income tax return clinics. Book an appointment through https://settlementcalgary.com/booking/

Income Tax Return Information Sessions

Settlement ISC Community, Finance, Updates

Tax season is starting, Immigrant Services Calgary will be hosting income tax return information sessions. Information on the types of income that are taxable, where to get taxes done free, how to prepare for a tax appointment and more will be answered at the session. There will also be a personal income tax return session where you can learn about taxable and nontaxable income, basic tax forms, and free income tax clinics and how to prepare for a tax appointment.