Canada Revenue Agency: 2 One-Time Changes to Your 2020 Taxable Income

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Corporate Income Tax Ottawa ON

The year 2020 was different as there were many one-offs. The world went into lockdown for the first time. A significant portion of the world population started working from home for the first time. Canada witnessed its highest-ever unemployment rate of 13.7% in May 2020. The Canada Revenue Agency (CRA) announced many cash and tax benefits for the first time. These many firsts will reflect in your 2020 taxable income.

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Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Puja Tayal 

Original Article Posted on:  February 4, 2021

Link to Original Article:  https://www.fool.ca/2021/02/04/canada-revenue-agency-2-one-time-changes-to-your-2020-taxable-income/

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