2017 was a momentous year for tax, and it seems 2018 is no different. Several key updates take center stage, causing Canadians to see and feel noticeable changes in the years to come.
It’s important to understand what the changes are, their impact on us, and how we can plan ahead to get the most out of our tax returns.
Read on to see how Canadian tax changes affect you and your particular situation. Here are six important updates to know before you file this year:
New parents, don’t forget to take advantage of the many benefits and credits available that can be a big boost to your family budget. How do you apply? Use the Automated Benefits Application (ABA) to automatically apply for child benefits when registering the birth of your new baby. If you live in a province or territory that has ABA and you register the birth, you will automatically be applying or registering for: the Canada child benefit (CCB) – A tax-free monthly payment m