Tax reminders for clients who bought, renovated or sold homes in 2021

Author: External Author | Apr 13, 2022 | Categories: Accountant , Accounting Services , Bookkeeping Firm , Bookkeeping Services , Canada Revenue Agency , Cost Accounting , Financial Reporting , HST Remittance , Management Accountant , Payroll Filing , Tax Accountant , Tax Returns , Tax Services

CRA outlined credits, rebates and reporting requirements. Clients who bought, renovated or sold homes in 2021 will want to make sure they take advantage of credits and rebates, as well as stay onside of their tax reporting obligations. The Canada Revenue Agency (CRA) provided highlights of what taxpayers need to know in a release on Thursday.

For those who bought a qualifying home last year, the home buyers’ amount is a non-refundable tax credit of up to $750.

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Original Article Source Credits: Advisor's Edge, https://www.advisor.ca

Article Written By: Staff

Original Article Posted on: March 24, 2022

Link to Original Article: https://www.advisor.ca/tax/tax-news/tax-reminders-for-clients-who-bought-renovated-or-sold-homes-in-2021