Tuesday, 17 March 2015

Taxes Done

Another year, another inevitable audit on its way.

CRA goes through our taxes every year because of the medical expenses.  Every year I hand them an inch-thick stack of receipts.  Every year they accept them and then go on.

This year is a little more complicated because I have expenses (but no income) from my book.  Claiming them definitely helped.

However, next year we will not only have the complications of medical expenses but also the difficulty of claiming expenses and income for a self-employed business which receives income from both the US and Canada.  Next year, I will be hiring someone to do the taxes for me and make sure that everything is being claimed properly.

CRA has a great list of allowable and unallowable expenses that families can claim.  I try to go through them at least once a year to see if anything has changed.

I also got a notice that the government is expanding the Universal Child Care Benefit for children over 6 years old.  Now children between 6 and 18 will qualify for $ 60 per month.  But here's the catch: you have to apply if you're not currently receiving benefits.

I also need to have a look and see if Nathan's Disability Tax Credit form expires next year.  Sometimes it seems like the paperwork never ends.

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