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Please tell anyone who is currently still employed, to do a new TD1 for federal tax and a new TD1NT or TD1AB (there is one for every province) and give it to their employer to have their employer reduce the tax they take off their paycheque as much as possible in order for their employees to take home as much money as they can to help out with costs now.
Some can’t defer their mortgage payment or vehicle payment and Trudeau can’t get money into their hands NOW but employers can if the employee fills out new TD1 forms. These forms can be found at: CRA.gc.ca/forms and then search for TD1. Fill it out and give it to your employer ASAP.
Keep in mind that next March at tax time you will likely not get a refund, but right now if you need the money fill out the TD1 forms.
Call me if you’d like to go over this.
News release: Minister Lebouthillier launches the CRA’s People First approach for Tax Filing Season 2020
Today, the Honourable Diane Lebouthillier, Minister of National Revenue, launched the 2020 tax filing season.
Read the full article on Canada.ca:
CRA’s People First approach for Tax Filing Season 2020