The good news is that, while limited, summer camps are back this year. The bad news is … so is the cost. Fortunately, there are tax deductions to help offset the cost of camp and care for children this summer (and all year round).
Allen Koroll
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The year is now half over, which makes it the perfect time to check in on your tax position for 2021. This will make sure that you’re on track for the year, give you time to make any necessary adjustments and will help reduce any possible surprises come tax season 2022.
On April 29, the government of Ontario introduced a new sick day program that provides time off (paid and unpaid) for situations related to COVID and vaccination. This program is called the Worker Income Protection Benefit.
When the pandemic started, one of the first programs that was launched to support Canadians was the Canada Emergency Relief Benefit (CERB). This program was implemented hastily to help ensure that taxpayers, who were being laid off one after the other, would be supported.
In Ontario, there are nine official public holidays. This includes New Year’s Day, Family Day, Good Friday, Victoria Day (May 24), Canada Day, Labour Day, Thanksgiving, Christmas Day and Boxing Day.
If you are the owner or manager of a business, these public holidays may impact how you pay your employees. In order for your employees to qualify for holiday pay on these public holidays, they must meet the “last and first rule”.
Hiring an apprentice is an excellent human resource strategy. It helps reduce the challenges of skill shortages as tradespersons retire, and ensures a regular supply of trained workers.
Approximately 1.8 million taxpayers are required to pay tax instalments each year. These instalments are required where a taxpayer owed more than $3,000 in the previous two years (2019 and 2020) and their net owing for 2021 will be more than $3,000.
It’s a new tax year and your tax return has now been filed. That means ç
