The MyAccount Service


July 14th, 2009

Canada Revenue Agency has a wonderful service that’s worth signing up for. ¬†It’s called MyAccount, and allows you to log in online and review your tax history. ¬†It’s great for those times when you need to reprint a copy of your Notice of Assessment, or to check to see where your tax refund is. ¬†There’s no cost to sign up. ¬†And, you can request the Canada Revenue Agency to provide your accountant with access to your MyAccount, so that your accountant can also get important information without having to call.

I’ll be honest with you: ¬†it IS a little bit of work to sign up for this service. ¬†You first need to register for what’s called an ePass. ¬†Then, the government will mail you (yes, in the mail) a security code that you have to enter to activate your MyAccount. ¬†So it does take some effort on your part to register, but it’s definitely worth it.

Do it today at http://www.cra-arc.gc.ca/esrvc-srvce/tx/ndvdls/myccnt/menu-eng.html

As an added bonus, once you have an ePass you can use it on quite a few other government websites, including Service Canada (check your Employment Insurance claim!), Veteran Affairs Canada, and Agriculture and Agri-Food Canada, to name only a very few.

Filed under: Consumer Tax by David Boese No Comments »




This is getting interesting…… keep it up much longer and the government will be paying you to build!

The new NDP provincial government just announced that they are removing a portion of the sales tax on new home construction or purchases. ¬†The rebate amount is 4%, to a maximum of $7,000. ¬†But you have to complete construction or purchase of your new home by March 1, so don’t wait. ¬†Also, it’s limited to only 1,500 applicants. ¬†I wonder what will happen if there are more? ¬†Premier Dexter says details will be announced over the summer, so let’s stay tuned.

http://www.gov.ns.ca/news/details.asp?id=20090707002

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Light humour……


July 7th, 2009

The average man now lives thirty-one years longer than he did in 1850.  He has to in order to get his taxes paid.

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We’re half done 2009


July 2nd, 2009

2009 is now half over.  Summer is here.  Nobody wants to think about taxes.  But really, now is a great time to get a headstart on that year end tax planning.

Everybody by now has likely heard about the new Tax Free Savings Account (TFSA). ¬†In case you haven’t heard about it yet, or you weren’t listening, here goes: ¬†Effective January 1, 2009 any Canadian resident at least 18 years old, who has a Social Insurance Number, can put money into their TFSA.

Money that you put into a TFSA can earn income tax-free. ¬†You can put up to $5,000 per year into your TFSA. ¬†So, that $5,000 can earn interest, capital gains, dividends etc without you paying any tax on it. ¬†And then, when you withdraw it, it’s still tax-free. ¬†Not a bad deal.

The downside is that, unlike a Registered Retirement Savings Plan (RRSP) contribution, you do not get a tax deduction when you put money into the TFSA.

If you feel like reading more about it, you can go to: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/tfsa-celi/menu-eng.html

Filed under: Personal Tax by David Boese No Comments »