Alfa Tax Services
2250 Bovaird Drive East Suite 304 Brampton L6R 0W3 Brampton, ON, Canada

Services we provide

what is Express Notice of assessment http://www.cra-arc.gc.ca/esrvc-srvce/xprss-noa-adc-eng.html

what is new in 2016 Tax Tips you should never miss it! http://www.cra-arc.gc.ca//ncm/rtrn/cmpltng/whtsnw-eng.html

Buying or selling a home? What you should know http://www.cra-arc.gc.ca/nwsrm/txtps/2017/tfsk13-eng.html

Six things to avoid at tax time http://www.cra-arc.gc.ca/nwsrm/txtps/2017/tt170209-eng.html

Who Should File Income Taxes: You have to pay tax for year you had an income. You received a request to file a return. You and your spouse or common-law partner elected to ... split pension income. You sold property or realized a taxable capital tax gain. You have not repaid any of your Old Age Security (OAS) or Employment Insurance (EI) benefits. You have not repaid all of the amounts you withdrew from your Registered Savings Plan (RRSP). You have to contribute to the Canada Pension Plan You received Working Income Tax Benefit (WITB) advance payments in present year, and you want to apply for WITB advance payments for next year. You still may want to file if any of the following apply. You want to receive a refund. You want to apply for the Goods and Services Tax Harmonized Sales Tax (GST/HST) credit. You or your spouse or common-law partner want to begin or continue receiving Canada Child Tax Benefit. You have incurred a non-capital loss and you want to be able to apply in other years. You want to carry forward or transfer the unused part of your tuition, education or textbook amounts. You want to report income for that you could contribute to your Registered Retirement Savings Plan (RRSP) so that you can keep your RRSP deduction limit for future years. You want to carry forward the unused investment tax credit. You are applying for the Ontario Energy and Property Tax Credit. for more information please visit our website at www.alfagroupcanada.com

RRSP Contribution Limit | RRSP Deduction Limits How much can I contribute to my own RRSPs for the year 2016? The maximum RRSP contribution limit 2016 is $26,010. However, if you did not use all of your RRSP contribution limit for the years 1995-2015, you can carry forward the unused amount to 2016. Therefore, your RRSP contribution limit for 2016 may be more than $26,010.... for more information please visit our website at www.alfagroupcanada.com

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Donate wisely: Take time to learn about a charity before you donate Did you know?... The Canada Revenue Agency (CRA) regulates more than 85,000 registered charities in Canada, and has online tools to help you learn more about them before you make your donation! Important facts Check to see if your charity is registered with the CRA. Go to www.cra.gc.ca/charitylists or call us at 1-800-267-2384. Beware of charitable donation schemes that promise you tax savings greater than your initial donation amount. Remember the motto that if it sounds too good to be true it probably is. Some fraudulent charities take names that are very similar to other well-known legitimate charities in order to get your donations. Do not make a donation if you feel inappropriate pressure to give immediately, if you are offered a receipt for more than you actually donate, or if there are other signs of fraud. Report fraud to the Canadian Anti-Fraud Centre by calling 1-888-495-8501. For more information visit our website at www.alfagroupcanada.com In Tax services Page read more about tax tips or contact us at www.alfagroupcanada.com/contact.htm

How you can pay less tax all year round I received an email from our payroll department advising me to update my Personal Tax Credits Return or TD1 form for next year. This return determines the amount of tax that is deducted from each paycheque. Canada Revenue Agency says the average tax refund was $1,400 last year, suggesting most Canadians overpay their taxes by moe than $100 a month. ... Why are we so willing to give the government an interest-free loan just to get a tax refund later? Be tax wise and look to your payroll department to help you take control of your gross earnings so you pay the correct amount of tax with every pay cheque. Start with the TD1 form. There’s one for federal and one for provincial tax withholdings. The TD1 allows you to exempt yourself from paying tax if the personal total taxable income is less than the TD1 amount claimed. Instead of just claiming as single, take a look at last year’s tax return to see what you claimed. Will anything change this year? If you’re getting married, going back to school or having a baby you can get extra reductions to tax withholding requirements.