News
News 1. Everything you need to know to file your taxes
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TORONTO -- If you purchased a home using the Home Buyers’ Incentive or were prescribed cannabis for medical use then you may be affected by changes to Canada’s tax code.
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CTVNews.ca will have stories on tax season every Money Monday. Look for it in our 5 Things to Know.
Whether you are working with a tax specialist or using software to file your taxes, it’s important to be aware of any changes that could affect your refund.
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But first, let’s start with the basics.
IMPORTANT DATES AND DEADLINES
As usual, April 30 is the last day to file your 2019 income tax return. If you owe the Canada Revenue Agency money, it must be paid by this date. Otherwise, you’ll face a late-filing penalty and daily interest charges on your balance.
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Long journey ahead: Feds extend CERB by 8 weeks
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OTTAWA -- The $500 per week Canada Emergency Response Benefit program will be extended by eight weeks, Prime Minister Justin Trudeau announced on Tuesday, meaning those who will soon run out will have until the end of the summer to keep claiming the benefit while they try to find work.
Three months after the program rolled out, Trudeau said that while a gradual economic reopening is underway, there’s “a long journey ahead” before all sectors bounce back and all who have been laid off find jobs.
“The reality is that even as we start to reopen, a lot of people still need this support to pay their bills while they look for work,” Trudeau said.