Tax Tidbits
Some quick points to consider…

• CRA has been significantly delayed in posting several tax slips to its online portal this year. Adjustments to filed personal tax returns may be needed to report income that was missed.
• Individuals reporting capital gains have until June 2, 2025 to file their income tax returns and make associated payments without being subject to penalties or interest.
• An individual may claim a charitable donation tax credit for their spouse or common-law partner’s gift made within the past five years, even if the donation predates their spousal relationship.
• A parking space may be a component of a condominium unit for principal residence exemption purposes, even if it was purchased separately from the unit.
• On April 1, 2025, the HST rate in Nova Scotia dropped to 14% (from 15%). Ensure to update the HST charged for sales in or to this jurisdiction.