Frequently asked questions about voluntary disclosure program – anonymously

Can I make an anonymous disclosure through Voluntary Disclosure Program (VDP)? You can make an anonymous disclosure, also known as the “no-name” method. A non-name disclosure means you do not identify yourself on the initial disclosure submission, but you do have to prove how you meet the four criteria. You must also supply the supporting…

Northern residents deductions

North residents deductions are special tax deductions available to residents who live in remote areas of northern Canada to help with the additional costs of living in those areas.

Tax on CPP or QPP death benefit

The Canada Plan Plan (CPP) or Quebec Pension Plan (QPP) death benefit is a one-time, lump-sum payment made to the estate upon the death of a contributor. If you received this amount and you are a beneficiary of the deceased person’s estate, you can choose to to include it on line 114 of your own…

Taxes on employment death benefits

When an employee dies and employer makes a payment to the surviving spouse or common-law partner or other beneficiary in recognition of the deceased’s employment service, the first $10,000 of this amount is generally a tax-free death benefit.

How much is caregiver tax credit 2012

In 2012, the full caregiver amount is $4,402 providing you with a maximum tax credit of $660.30 (15% of $4,402). The credit is a non-refundable tax credit. The amount is reduced dollar by dollar by your dependant’s net income (line 236 of his or her tax return) excess of $15,033. It expires where the dependant’s income is…

Eligibility of children’s arts tax credit

To be eligible for children’s arts amount, the child must have been under age 16 (under 18 if the child is eligible for disability tax credit) at the beginning the year in which an eligible arts expense was paid.