Dealing with the Canada Revenue Agency (CRA) and staying abreast of policies from the Department of Finance are critical components of financial management and compliance for individuals and businesses. At Shajani CPA, a firm with 40 years of experience, legal…
Dealing with the tax obligations of a loved one who has passed away can feel overwhelming, but it’s a crucial step in settling their affairs. Filing the final tax return for a deceased person ensures that their financial obligations are…
Enhancing Tax Literacy for Teachers and Parents – Join the Movement https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2024/teachers-parents-join-movement-enhance-tax-literacy.html What the CRA Said On September 5, 2024, the Canada Revenue Agency (CRA) launched a new initiative to promote tax literacy among students, teachers, and parents. Tax literacy…
As Saskatchewan gears up for its next provincial election on October 26, 2024, tax policy has emerged as a central issue in the campaign. Both the governing Saskatchewan Party, led by Premier Scott Moe, and the opposition, represented by the…
Imagine finding out that a simple oversight in your business’s tax planning could lead to hefty penalties, a surprise audit by the Canada Revenue Agency (CRA), or even fines reaching up to $100,000. For many family-owned enterprises in Canada, this…
Tax Obligations for Ridesharing and Delivery Service Drivers in Canada Revised – Tax obligations for commercial ridesharing and delivery service The Canada Revenue Agency (CRA) has released a revised guide on tax obligations for individuals involved in commercial ridesharing and…
Small businesses are the backbone of our economy, yet they are being crushed under the weight of rising costs. Restaurants Canada, alongside other national business associations, is urging the federal government to act on a pivotal report titled "On the…
Supporting Affordable Housing: Apply Now for the GST/HST Rebate for Purpose-Built Rentals Supporting affordable housing: apply now for the GST/HST rebate for purpose-built rentals The Canada Revenue Agency (CRA) has announced a new initiative to support affordable housing across Canada…
Receiving a tax audit notice from the Canada Revenue Agency (CRA) can be a stressful experience, especially for families with family-owned enterprises. However, with the right approach and professional guidance, you can navigate this process smoothly and favorably. Here’s a…
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…