M A Consulting Corp

Crazy idea finally dropped!

Reporting the sale of your principal residence Starting with the 2016 tax year, you are required to report basic information (date of acquisition, proceeds of disposition (e.g. sale) and address) on your tax return when you sell your principal residence to claim the full principal residence exemption. You do not have to pay tax on any capital gain when you sell your house if it was your principal residence for all the years you owned it and you did not use any part of it to earn income.

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Working income tax benefit advance payment issuance January 5, 2017 The Canada Revenue Agency (CRA) will issue the next working income tax benefit advance payments on January 5, 2017. If you do not receive your payment by January 19, 2017, you may want to check on its status. Please note that the CRA cannot take any action before this date. Remember to let the CRA know if changes happen in your life such as: a change in your marital status... you have a new child you change your address you change your direct deposit information When these changes happen, update your personal information using My Account. See more