Product details

Publisher: 
Carswell
Practice area: 
Tax & accounting
Jurisdiction: 
General
Publication date: 
2022-02-11
Carswell

Personal Tax Return Guide, 2021 Taxation Year, Print and ProView eBook

Availability: Partial Stock
The Personal Tax Return Guide, 2021 Taxation Year provides line-by-line instructions to assist you in completing and filing the 2021 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 that provide additional tax-planning information.

The Appendices to the Guide contain useful personal tax reference information to assist you in completing and filing the 2021 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.

What's new in this edition:
The Personal Tax Guide has been updated to reflect legislative and administrative developments since the last edition, including federal and provincial legislative and administrative measures announced in 2021. The Guide has also been updated to reflect the latest court cases, government publications, and changes to both federal and provincial personal tax credits, tax deductions, and threshold amounts for 2021.

Below are some of the personal income tax developments that are reflected:

  • Extension of the administrative relief related to COVID-19 for certain employee benefits and deductions
  • Changes to the Northern residents’ deduction
  • Changes to the security options deduction
  • Updates to employee deductions for supplies and home office expenses
  • Tax and reporting information for COVID-19 government assistance for individuals and business owners
  • Tax and reporting information for COVID-19 benefits repayment
  • Enhancements to the Canada Pension Plan and Quebec Pension Plan
  • Changes to the payment of the climate action incentive
  • Enhancements to the Canada workers’ benefit
  • Expansion of the eligible educator school supply tax credit
  • New provincial tax credits, including the Manitoba teaching expense tax credit, Newfoundland and Labrador physical activity tax credit, PEI children’s wellness tax credit, Saskatchewan home renovation tax credit and Saskatchewan active families benefit
  • New Ontario provincial credits, including the seniors’ home safety tax credit, jobs training tax credit and staycation tax credit
  • Changes to Quebec tax credits, including the tax credit for child care expenses, tax credit for home-support services for seniors, tax credit for caregivers, and tax credit for the treatment of infertility
  • Updates to the Medical Expense Credit Quick Reference Table for COVID-19 related expenses, including COVID-19 vaccine and testing, hotel quarantine, and personal protective equipment


About Thomson Reuters ProView
ProView is the way to read Thomson Reuters eBooks and eLooseleafs, published primarily for legal, accounting, human resources, and tax professions. The Thomson Reuters ProView web-based application is accessed via your browser. With the new ProView web app, offline capability is now available from your browser. The web application has a responsive design and is compatible with desktop, laptop and mobile devices.

Carswell

Personal Tax Return Guide, 2021 Taxation Year, Print and ProView eBook

Author: Paula Ideias
Availability: Partial Stock

Description

The Personal Tax Return Guide, 2021 Taxation Year provides line-by-line instructions to assist you in completing and filing the 2021 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 that provide additional tax-planning information.

The Appendices to the Guide contain useful personal tax reference information to assist you in completing and filing the 2021 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.

What's new in this edition:
The Personal Tax Guide has been updated to reflect legislative and administrative developments since the last edition, including federal and provincial legislative and administrative measures announced in 2021. The Guide has also been updated to reflect the latest court cases, government publications, and changes to both federal and provincial personal tax credits, tax deductions, and threshold amounts for 2021.

Below are some of the personal income tax developments that are reflected:

  • Extension of the administrative relief related to COVID-19 for certain employee benefits and deductions
  • Changes to the Northern residents’ deduction
  • Changes to the security options deduction
  • Updates to employee deductions for supplies and home office expenses
  • Tax and reporting information for COVID-19 government assistance for individuals and business owners
  • Tax and reporting information for COVID-19 benefits repayment
  • Enhancements to the Canada Pension Plan and Quebec Pension Plan
  • Changes to the payment of the climate action incentive
  • Enhancements to the Canada workers’ benefit
  • Expansion of the eligible educator school supply tax credit
  • New provincial tax credits, including the Manitoba teaching expense tax credit, Newfoundland and Labrador physical activity tax credit, PEI children’s wellness tax credit, Saskatchewan home renovation tax credit and Saskatchewan active families benefit
  • New Ontario provincial credits, including the seniors’ home safety tax credit, jobs training tax credit and staycation tax credit
  • Changes to Quebec tax credits, including the tax credit for child care expenses, tax credit for home-support services for seniors, tax credit for caregivers, and tax credit for the treatment of infertility
  • Updates to the Medical Expense Credit Quick Reference Table for COVID-19 related expenses, including COVID-19 vaccine and testing, hotel quarantine, and personal protective equipment


About Thomson Reuters ProView
ProView is the way to read Thomson Reuters eBooks and eLooseleafs, published primarily for legal, accounting, human resources, and tax professions. The Thomson Reuters ProView web-based application is accessed via your browser. With the new ProView web app, offline capability is now available from your browser. The web application has a responsive design and is compatible with desktop, laptop and mobile devices.