"This year’s book provides up-to-date information on recent tax rules that may significantly affect individuals, including private company owners and their families. In addition to updated federal and provincial tax rates and tax credit amounts, this year’s book also offers new information on: Changes to the small business deduction to make it accessible for more businesses; A new tax deduction to help tradespeople with expenses for travel and temporary relocation; The latest changes to help Canadians purchase their first home, including the new tax-free First Home Savings Account and an increase to the First-Time Home Buyers’ Tax Credit; New tax relief that may apply when transferring your family business to the next generation; Tax incentives for home renovations, including the increased Home Accessibility tax credit and the new Multigenerational Home Renovation Tax Credit; New punitive rule to tax the “flipping” of residential property; Recent changes to restrict the amount of stock options that may benefit from preferential tax treatment; Eligible home office expenses, including certain expenses incurred because of the need to work from home due to the pandemic; Your tax obligations on taxable subsidies or benefits received from the government as part of its COVID-19 emergency measures; The latest HST and provincial sales tax rates in effect across Canada."-- Publisher.