A death benefit is an amount paid to a deceased individual for his/her employment service. Taxes are generally not required to be paid on the first $10,000 of the benefit amount received. Any amount in excess of the $10,000 has to be reported for tax purposes. A letter must be attached with the return in … Continue reading What is a death benefit?
The disability tax credit (DTC) is offered in order to lessen the tax burden for individuals who are physically or mentally impaired. The DTC can be applied for by completing Form T2201, Disability Tax Credit Certificate. If a taxpayer does not claim all or part of the disability amount on his or her tax return … Continue reading Can I claim my dependent’s disability amount?
No, although interest on loan borrowed to invest through non-registered accounts are tax deductible (normally up to the amount of investment income), interest on loans borrowed to invest through such registered savings plans are not tax deductible.
If you’ve lost/misplaced/or never got your tax slips such as a T4, T4A, T5, T4RSP, etc, you can call the CRA and have them mailed/faxed over to you. You can call the CRA at 1-800-959-8281 to submit a request with a representative.