Search - considered

Treasury bills (T-bills) and stripped bonds When a T-bill or a stripped bond is issued at a discount and you keep it until it matures, the difference between the issue price and the amount you cash it in for is considered to be interest that accrued to you. ...

If this happens, you will be considered to have made a charitable donation in that year, and you can claim the charitable donation tax credit. ...

When the due date falls on a Saturday, a Sunday, or a public holiday recognized by the CRA, your information return is considered on time if the CRA receives it or if it is postmarked on or before the next business day. ...

The penalty is: 3% if the amount is one to three days late 5% if it is four or five days late 7% if it is six or seven days late 10% if it is more than seven days late, or if no amount is remitted Example A remittance that was due in January of the current year (for deductions made in December of the previous year) is considered late when paid with the previous year’s information return (T4, T4A) and this return is filed after the remittance due date. ...

A non-resident is someone who: normally, customarily, or routinely lives in another country and is not considered a resident of Canada; or does not have significant residential ties in Canada; and lives outside of Canada throughout the tax year; or stays in Canada for less than 183 days in the fiscal year. ...

Income tax is here to stay By 1948, income tax was no longer considered temporary and the Income War Tax Act was replaced with the Income Tax Act. ...

Ask to cancel or waive penalties or interest If extraordinary circumstances or difficulties prevent you from completing your return or paying your taxes on time, the taxpayer relief provisions may allow the Canada Revenue Agency to: cancel or waive penalties or interest accept certain late, amended, or revoked elections refund or reduce the amount payable beyond the normal three-year period Examples of circumstances that can be considered for taxpayer relief: a natural or human made disaster, such as a flood or fire a personal misfortune, such as a serious illness or accident an error or delay caused by the Canada Revenue Agency a civil disturbance or disruption in services, such as a postal strike an inability to pay or financial hardship Correct your taxes If you make a tax mistake or leave out details about income on your tax return, the Canada Revenue Agency offers you a chance to make things right. ...

An organization must first be designated as a QCJO to claim the Canadian journalism labour tax credit; potentially have their subscription costs be considered as qualifying subscription expenses for the digital news subscription tax credit; and/or apply for qualified donee status as a registered journalism organization. ...

The following are allowable research expenses: salary or wages paid to an assistant the cost of minor equipment and supplies laboratory charges travelling expenses (including meals and lodging) that were incurred while travelling for any of the following situations: between your home and the place where you temporarily lived while doing the research work from one temporary work location to another on field trips connected with your research work Note If you lived temporarily in a place other than your home, the amount paid for meals, lodging, and living expenses is considered personal. ...

Note If you are a specified employee and your employer made contributions to your EPSP, you may have to pay tax on the amount that is considered an excess amount. ...