The Personal Tax Return Guide, 2018 Taxation Year is laid out in an easy to follow line-by-line format
The Personal Tax Return Guide, 2018 Taxation Year provides line-by-line instructions to assist you in completing and filing the 2018 Canadian Personal Tax Return. The Guide is laid out in an easy to follow line-by-line format, with a separate discussion/analysis and reporting instructions for each line of the tax return. There is a "See Also" section for each line of the tax return listing the related sections of the Income Tax Act (and regulations), and relevant Canada Revenue Agency publications, including Interpretation Bulletins, Information Circulars, Income Tax Technical News, tax forms, tax guides, and pamphlets. In addition, there are Helpful Hints scattered throughout the Guide, which provide additional tax-planning information.
The Appendices to the Guide contain useful personal tax reference information to assist you in completing and filing the 2018 Personal Tax Return, including a Medical Expense Quick Reference Table, Canadian and U.S. Personal Tax Compliance Calendars, various Personal Tax Reference Tables, and several Tax Planner Guides.
New in this edition
The 2018 Personal Tax Return Guide (“T1 Guide”) has been updated to reflect legislative and administrative developments since the last edition, including the 2018 federal budget measures contained in Bill C-74 (Budget Implementation Act, 2018, No. 1) and Bill C-86 (Budget Implementation Act, 2018, No. 2), and other federal and provincial legislative and administrative measures.
The 2018 T1 Guide has also been updated to reflect new/updated CRA publications (eg; CRA Guides, Income Tax Folios, etc.) and recent CRA Views documents.
The 2018 T1 Guide has also been updated to reflect changes to federal and provincial personal tax credit amounts, tax deductions and threshold amounts for 2018.
Below are some of the personal income tax developments that are reflected in this edition of the T1 Guide:
- 2018 federal and provincial personal tax credits and deductions and threshold amounts
- Changes to various CRA programs, such as the Voluntary Disclosure Program
- Expansion of the scope of the tax on split income
- Elimination of the election to exclude work in progress from professional income
- Extension of the medical expense tax credit
- Changes to the federal dividend tax credit rate
- Changes to the Working Income Tax Benefit
- Extension of the registered plan anti-avoidance rules
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