What is new for tax season 2021
- CRA announced that it recognizes e-signature for T183 (personal tax return) and T183CORP (Corporate tax return) for the 2021 tax filing season to reduce administrative burden during this difficult time.
- You will be receiving T4A slip to report your emergency or recovery benefits (CERB, CESB, CRB etc.)
- Digital news subscriptions tax credit – maximum $500 paid by individual to a qualified Canadian journalism organization which is primarily engaged in the production of original written news content.
- Canadian training credit – up to one half of eligible tuition. Eligible individual (age 25 to 65, resident of Canada, earnings greater than $10,000, and income less than the third tax bracket) will be able to accumulate $250 per year to a maximum lifetime of $5,000.
- Eligible educator school supply tax credit – maximum $1,000 for teachers to claim out of pocket teaching supplies.