The CRA has admitted to a glaring mistake involving erroneous late filing penalties on trusts—an error that should never have occurred and one that will impact the trust in communications received from their office. Buried in their release on new…
Streamlining Access to CRA Services: A Look at the New Document Verification Option The CRA is making it easier to access its digital services The Canada Revenue Agency's New Identity Verification Process On April 11, 2024, the CRA announced a…
Canada Revenue Agency’s Disability Advisory Committee Submits 26 Recommendations in its fourth annual report While the Canada Revenue Agency (CRA) casts its Disability Tax Credit (DTC) efforts in a favorable light in its latest press release, the 2023 annual report…
The recent rollout of new tax-filing requirements by the Canada Revenue Agency (CRA) underscores a classic case of good intentions paved with bureaucratic inefficiency. Aimed at curtailing tax evasion and money laundering, the CRA has broadened its reach, ensnaring everyday…
Canada Revenue Agency Enforces Tax Integrity: A Recent Conviction Highlights the Importance of Accurate Tax Filings In a recent enforcement action that underscores the importance of integrity within Canada's tax system, the Canada Revenue Agency (CRA) has brought to light…
Canada's 2024 Automobile Deduction Limits and Expense Benefit Rates for Businesses Announced Government of Canada Announces 2024 Automobile Deduction Limits and Expense Benefit Rates for Businesses 2023-12-18 15:15 The Department of Finance Canada has released the updated automobile income tax…
Canada Revenue Agency Extends Deadline for Underused Housing Tax Returns The Canada Revenue Agency (CRA) has announced a significant extension for homeowners to file their Underused Housing Tax (UHT) returns. In a recent news release dated October 31, 2023, the…
Canada’s economic plan is helping Canadians save for a first home and building more co-op homes, faster 2023-12-05 06:12 Roundup: Canada’s economic plan is delivering for Canadians from coast to coast to coast 2023-12-01 15:00 Deputy Prime Minister highlights…
Lower-income renters in Canada can now apply for a one-time $500 top-up to the Canada Housing Benefit Canadians must meet all the following conditions to be eligible for the new benefit: have filed a 2021 tax return; be at least…
Recent legislative proposals have introduced significant changes to the GST/HST Joint Venture Election rules under the Excise Tax Act. These amendments have crucial implications for family-owned enterprises involved in joint ventures. Summary of the Key Amendments: Definitions and Qualifications: The…