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Personal Tax

The professionals at Frontline Accounting solutions ltd provide the alternatives you seek and will achieve the most efficient results for your tax needs.

Our tax professionals offer convenient, accurate, and affordable preparation of all types of tax returns. As Canada's leading tax preparers, we're equipped to handle any tax situation. The latter includes the following: personal returns, rental properties, estate/trust, U.S. and more. We'll make sure that you’ll get the maximum refund possible, as well as provide you with 12 months of tax support with every return we prepare for you.


You will receive a professional service from one of our tax analysts/accountants, who will in turn discuss and review your tax situation with you. We will prepare your tax return and call you if there are additional questions. When your return is complete, we will book any further appointment to review your return and make any recommendations for the next year, at your convenience.

 

Income Tax Forms & Checklists

Small Business Income statement form – This tool will help you identify business expense categories, which will reduce your taxable income

 

Personal_Income_Tax Questionnaire - This questionnaire is designed to assist you in compiling the information necessary to prepare your personal income tax return.

Application for a Canadian Individual Tax Number – For non-residents, follow this link for the application. If you do not have a social insurance number, we require the completion of this application along with one copy of a supporting document.

 

Personal Tax Calculator- Click here

The CRA GST/HST tax credit  online calculator

 

Important Links

CRA My Account – Communicate efficiently with the Canada Revenue Agency. Track your personal tax refund, check your benefit payments and your RRSP limit and more.

Revenu Quebec -My Account – Communicate efficiently with Revenu Quebec. For Quebec residents, this service provides similar benefits to CRA’s My Account.

 

Canada Revenue Agency – Individual income tax enquiries            

 1-800-959-8281      
Revenue Quebec – Individual income tax enquiries    

514-864-6299      

 

 

First-time Home buyers Tax Credit

Childcare Expenses

Employee versus independent contractor

Small Business

Transit Pass Credit

US Tax

Moving Expenses

Medical Expenses

First-time Home buyers Tax Credit

First-time homebuyers will now be able to claim a personal amount of $5,000 in respect to the purchase of a qualifying home. The tax savings generated due to the HBTC have been converted into a non-refundable tax credit, resulting in tax savings of $750 (calculated as $5,000 x 15%).

A "qualifying home" and a "first-time home buyer" will have the same definitions as for the RRSP Home Buyers' Plan purposes.
The credit will also be available to taxpayers who are eligible for the disability tax credit if the home is acquired to enable the taxpayer to live in a more accessible dwelling or in an environment better suited to his or her personal needs and care.

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Childcare Expenses

If you require childcare to work or attend school, you may be able to claim some money back on you tax retun.
You or your spouse or common-law partner may have paid for someone to care for your child, so one of you could earn income, go to school, or conduct research. You can claim the childcare expenses if the child was under 16 or had a mental or physical impairment.

The general rule is that only the spouse or common-law partner with the lower net income – even if it is zero – can claim such expenses.

Childcare expenses include fees paid for:

  • baby-sitting
  • nursery schools
  • day-care centres

And with some exceptions, you may also claim certain amounts for:

  • day camps or day sports schools
  • boarding schools and overnight sports schools and camps

You need to have receipts from your childcare provider to support your claim. There is a limit to the basic amounts that any taxpayer can deduct for child care. This limit is the least of:

  • $7,000 for each eligible child who is under seven, plus $4,000 for each eligible child who is either age seven to 16; ($10,000 for each eligible child who qualifies for the disability amount);
  • the total amount actually paid for child care in the year; or
  • two-thirds of the taxpayer’s earned income for the year.

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Employee versus independent contractor

Employee versus independent contractor

Determining your employment status is fundamental to determining the proper tax treatment of income you earn and expenses you incur in the course of your work.

In general, self-employed individuals are subject to fewer restrictions and are allowed to deduct a larger amount than employees for expenses such as travel costs, meals and entertainment, and supplies and tools. As a result, many people may believe that arranging their work as independent contractors is in their best interest. However, it’s important to realize that the legal relationship between an employer and an employee is very different from that of a purchaser and a vendor of services (e.g., a self-employed individual). A self-employed individual often assumes additional legal obligations, costs and risks and has fewer legal protections than an employee.

Over the years, the courts have developed various tests to determine whether an individual is an employee or an independent contractor. The need for these tests arose not just in applying income tax legislation, but also in applying employment legislation (including the Canada Pension Plan and the Employment Insurance Act) and in actions concerning vicarious liability and wrongful dismissal. Some of the more recent court decisions seem to emphasize the legal relationship and intention of the parties involved.

Given the many court decisions concerning the differences between employees and independent contractors, the CRA has developed some administrative guidelines, which are outlined in Guide RC4110, Employee or Self Employed? In general for common law situations, the CRA has been using a two-step approach (similar to the approach the courts have been using recently), first determining the parties’ intent when they entered into the working arrangement and then considering various factors to get a better understanding of the actual working relationship and verify whether it reflects the parties’ intent.

A similar approach is also outlined in Guide RC4110, where Quebec’s Civil Code applies.

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Small Business

As highly trained Tax Professionals, we're up to date on all the latest tax laws, which means we can deliver the best solutions for your business - and do it at a price you can afford.

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Transit Pass Credit

Travelling by public transit has its tax advantages.

You can claim the cost of monthly transit passes or passes of longer duration for public transportation, which includes local bus service, streetcar, subway, commuter train, commuter bus and local ferry.
The cost of passes for shorter duration may also be claimed if each pass allows you unlimited travel for at least five consecutive days and you purchase four consecutive weeks.
This credit can be claimed by either parent. To get the maximum benefit, combine the cost incurred for you, your spouse or common-law partner and dependent children under the age of 19.
Remember to keep your receipts and passes to support your claim.

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US Tax

What you need to do

As a U.S. citizen, you must file two returns each year: a Canadian return and a U.S. return. Fortunately, this does not necessarily mean you'll have to pay taxes in both countries, as there are several ways to ensure you're not doubly taxed. The 1040 form is the standard documentation for filing your income tax return to the Internal Revenue Service (IRS). You may be subject to additional U.S. tax reporting and required to fill out more forms if you own or are a beneficiary of Canadian mutual funds, TFSAs, RESPS, RRSPs or RPPs. You also may have U.S. filing requirements if you meet the Lawful Permanent Resident test or have spent a certain amount of time in the United States.

Individual Taxpayer Identification Number form click here

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Moving Expenses

If you relocate to start a new job or a new position with the same employer, you may be able to deduct some of your moving costs from your taxable income.

In order for moving expenses to be deductible, your new residence must be at least 40 kilometres closer to your new place of employment. However, if your employer pays for some of your moving expenses, you cannot claim those expenses.
Moving expenses are deductible only from a taxpayer’s net earnings at the new location. So if you move later in the year, and only earn a few weeks of income at your new job then you may find your deductions are limited. However, eligible moving expenses that cannot be deducted in the year of the move may be carried forward and claimed against net earnings from the new location in a subsequent year.

Deductible Moving Expenses

Moving expenses are one of the most reviewed and re-assessed tax deductions so it is important to understand if you qualify and what you can actually claim.

Deductible moving expenses are those listed in the Income Tax Act, and are limited to the following:

  • the cost of moving household effects, including packing, hauling, in-transit storage, and insurance costs;
  • transportation costs to the new residence for the taxpayer and his or her family including amounts for travel, meals, and lodging en route;
  • the cost of temporary lodging and meals for up to 15 days near the former residence and/or the new residence;
  • the cost of canceling a lease for the old residence, not including any rent paid while the taxpayer lived there;
  • the cost of changing addresses on legal documents, replacing automobile permits and licenses, and utility hook-ups and disconnections;
  • up to $5,000 of the amount incurred for interest, property taxes, insurance premiums, heating and utilities required to maintain the former residence after the move, provided it was not being rented or lived in by a household member and reasonable efforts were made to sell it;
  • selling costs of the old residence, including real estate commissions, legal or notarial fees, advertising, and mortgage penalty if a mortgage is paid off before maturity; and
  • legal fees connected with buying a new home and any taxes paid to register or transfer title to the new residence, but only if the taxpayer or his or her spouse sold the old residence as a result of the move. This deduction is not available to taxpayers acquiring a first residence. “Taxes paid to register or transfer title” do not include the GST/ HST payable on newly built residences.

 

Non-Deductible Moving Expenses

The items listed below are not deductible as moving expenses:

  • pre-move expenses from the old location to the new location for job-hunting, house-hunting, or any other purpose;
  • expenses incurred to make the former residence more saleable; and
  • any loss on the sale of the old residence.

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Medical Expenses

Claiming medical expenses, on your tax return, may provide substantial tax savings.
Medical expenses cover a wide range of healthcare related costs such as:

  • Pharmaceutical prescriptions
  • Eye exams, glasses and/or contact lenses
  • Dental and orthodontic work
  • Chiropractic costs
  • Hearing aids and their replacement batteries
  • Massage therapy
  • Medical travel insurance
  • Medical plan deductibles

The list is extensive so it is worth checking before you throw away receipts that could be valuable.

To claim medical expenses, the total costs must exceed three per cent of your net income and only the portion that exceeds your net income is claimed. Example: if your net income is $30,000, your medical expenses have to exceed $900 ($30,000 x 3%) and you can only claim the expenses over $900.

Taxpayers may claim qualifying medical expenses they paid in the taxation year, or in any period of twelve months ending in the taxation year. Any twelve-month period ending in the year may be selected to determine the most advantageous total for medical expenses. This could mean reporting expenses from June 2008 to May 2009 to give you the largest total to claim.
Even if you have medical or dental insurance that reimburses you for your health costs, you can still the claim the portion of expenses that the insurance plan does not cover. And the premiums you pay for private health insurance, such as the ones deducted directly from your paycheque, can also be included as a medical expense.

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