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5 hours ago · There’s a tax credit for small businesses starting new employee plans. The credit is up to 100% of the startup costs for adopting and maintaining a new 401 (k) plan, capped at $5,000. There’s also a tax credit based on employer contribution, up to $1,000 annually per employee, over the plan’s first five years.
5 hours ago · Previously, the deadline was February 15, 2024. The August 7, 2024, deadline will now apply to: Individual income tax returns and payments normally due on April 15, 2024. Anyone who needs an additional tax-filing extension, beyond June 17, for their 2023 federal income tax return should request it electronically by April 15.
5 hours ago · The Canada Income Company (CRA) introduced Thursday that it'll not require "naked belief" reporting from Canadians that it launched for the 2024 tax season, simply 4 days earlier than the April 2 deadline. The brand new reporting required relevant trusts to file a T3 return, naming beneficiaries and trustees on the file. "In recognition that
17 hours ago · Around The Web. Income Tax Saving Plan: The current financial year is ending on 31 March 2024. You have the last chance to save tax before the end of the financial year. If you want to save income tax then you have till 31st March to invest. Let us tell you that in the old regime of income tax, tax exemption is available in different sections.