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Trump Declares National Emergency as U.S. Tightens Stance on Cuba

President Donald Trump on Thursday signed an executive order declaring a national emergency in respect with Cuba. President Donald Trump has declared a national emergency related to Cuba, marking a sharp escalation in Washington’s approach toward the island nation. The declaration frames Cuba’s government as a significant threat to U.S. national security and foreign policy interests, opening the door for new economic and diplomatic measures. A key component of the order allows the United States to impose tariffs on any country that supplies oil to Cuba. The move is designed to pressure foreign governments and companies that help sustain the island’s energy sector, which has long relied on external support. The administration argues that Cuba’s close ties with adversarial governments and its alleged involvement in activities that undermine regional stability justify the emergency action. The decision signals a renewed effort to isolate Havana and reshape the geopolitical dynamics of ...
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Taxes 2024: What You Need to Know for This Year’s Filing Season

 

With tax season upon us, there are several tweaks to the filing process this year that Canadians need to be cognizant of before it’s time to submit that paperwork. Understanding this year’s changes is crucial to filing taxes properly and making sure you receive any benefits or credits you may be entitled to.

Important Dates

  • February 19, 2024: This is the first day you can start filing your 2023 tax return online. If you file on paper, you should receive your income tax package in the mail by this date.
  • April 30, 2024: This is the deadline for most Canadians to file a tax return. By filing your tax return on time, you’ll avoid delays to any refund, benefit, or credit payments you may be entitled to. If you owe money to the CRA, this is also the payment deadline.
  • June 15, 2024: If you or your spouse or common-law partner are self-employed, this is the deadline to file your tax returns. As this date falls on a Saturday, your return will be considered filed on time if the CRA receives it or it is postmarked on or before June 17, 2024. If you owe money to the CRA, you’ll still need to pay by April 30, 2024, to avoid interest.

What’s New for 2024

  1. Digital Disability Tax Credit (DTC) Application Form: The CRA has made it faster and easier for persons with disabilities and their medical practitioners to complete the DTC application form. Applicants can now complete Part A of the application form online in My Account or by phone. Once completed, the applicant will receive a reference number to give to their medical practitioner who will use it to complete Part B of the form.

  2. Changes to the T1 Notice of Assessment: The CRA has updated the T1 notice of assessment and notice of reassessment to provide more complete information that is easier to understand. If you are expecting a refund and are not signed up for direct deposit, you will receive a paper T1 notice of assessment and cheque separately.

Remember to stay informed and take advantage of these changes to ensure a smooth tax-filing experience. 

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