Figtree Financial Services

  • Mission Statement

    The goal of our business is to provide our clients with comprehensive, quality Tax and Accounting services in an understandable language, at a fair cost, as soon as possible.

    It is our desire to treat our clients with respect, giving them the best possible service at the best possible fee.

    All Tax Returns will be prepared honestly, in accordance with the Tax Law of Canada. At the same time we’ll utilize every legal option to have our clients pay the lowest possible tax.

    Donna McGennis

WHAT’S NEW 2023 TAX YEAR

February 9th, 2012

First Home Savings Account (FHSA)

A first home savings account (FHSA) is a registered plan allowing you, as a prospective first-time home buyer, to save for your first home tax-free (up to certain limits).

If you opened an FHSA in 2023, you can claim up to $8,000 in FHSA contributions you made by December 31, 2023, as an FHSA deduction on your 2023 income tax and benefit return.

 

Multigenerational Home Renovation Tax Credit

Budget 2022 introduced the new refundable MHRTC for qualifying expenditures for a qualifying renovation. A qualifying renovation is one that creates a secondary unit within the dwelling that will be occupied by the qualifying individual or a qualifying relation. The value of the credit is 15% of the lesser of qualifying expenditures and %50,000.

 

There are NO WORK FROM HOME DAYS for 2023

If your Employer requires you to work from home, you must have a T2200 signed and filled out by your Employer.

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