Padgett Business Services
1023A Park Street S4N 5H4 Regina, SK, Canada

1023A Park Street, Regina, SK. Stop by....we will make your life less Taxing :)

Canada Revenue Agency has given the T1 income tax package a new look. Some of the changes include the use of plain language, an increased font size and more white space. The new tax return has almost doubled in size to eight pages for 2019 While you might think that this is solely due to the ever-increasing complexity of our tax code, it’s actually because the CRA has decided to include the calculation of federal tax itself as part of the return. Page one of the return still...Continue reading

1023A Park Street, Regina, SK. Stop by....we will make your life less Taxing :)

Most Canadian income tax and benefit returns for 2018 are due on April 30, 2019. If you or your spouse or common-law partner are self-employed, you have until June 17, 2019. You can file online as early as February 18, 2019. Filing on time ensures your benefit and credit payments are not delayed or stopped, while filing early may help you get your refund quicker. If you have a spouse or common-law partner, they should also file a return early. NEW THIS YEAR:... The Medical expense tax credit has been expanded to allow expenses related to service animals who are specially trained to perform specific tasks for a patient with a severe mental impairment that help the patient cope with the impairment. Eligible expenses paid in 2018 include the cost of the animal, the care and maintenance of the animal (food and veterinary care), reasonable travel expenses paid for the patient to attend a school, institution, or other facility that trains in the handling of these animals, and reasonable board and lodging expenses paid for the patient’s full-time attendance at a school, institution, or other facility. The Climate Action Incentive (CAI) payment can be claimed by eligible individuals who are residents of Saskatchewan, Manitoba, Ontario or New Brunswick. A new Schedule 14 will be included with the T1 package for these jurisdictions; simply complete the new schedule to claim the amounts you may be entitled to based on your family composition, and indicate the amount on line 449 of your income tax and benefit return. The CAI payment will first reduce any balance owing, and may create or increase your refund.