Tax Tips and Reminders – September 2023

Tax Tips and Reminders – September 2023

As a follow up to our newsletter from May, certain owners of residential properties may need to file an additional return to the government, with taxes potentially owing depending on whether you meet the exemptions. The filing and tax amount are due October 31st, 2023, there could be significant penalties. Please see more information in our newsletter here .

Owners of Ontario corporations also need to confirm with their lawyers whether they had filed the corporation’s Ontario annual information return. This is not a tax return and is a filing requirement under the Ontario Business Corporations Act (OBCA). Please refer to the attached newsletter for more information, including registration and filing instructions here.

Tax Tips – September 2023: This edition of tax tips covers information regarding:

  • CPP enhancements
  • First Home Savings Account (FHSA)
  • Cryptocurrency recordkeeping
  • Multigenerational Home Renovation Tax Credit
  • Electronic application for Disability Tax Certificate (T2201)
  • And more…..

Please contact our office if you have any questions regarding the information provided, or your individual tax planning at 905 891 5339.

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Mississauga, Ontario L4Z 1S2

Phone: 905-891-5339

Fax: 905-891-1513