October 3, 2014 – Ottawa, Ontario – Canada Revenue Agency Press Release The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, congratulates the Chartered Professional Accountants of Canada (CPA Canada) on their recent merger of all accounting… {Read more}
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Harper government progess on red tape reduction
Minister Findlay launches 2014 red tape reduction consultations with small and medium-sized businesses October 9, 2014 – Ottawa, Ontario – Canada Revenue Agency Press Release The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, was in Ottawa… {Read more}
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Fourth calendar quarter Interest rates
September 12, 2014 Ottawa, Ontario Canada Revenue Agency The Canada Revenue Agency (CRA) today announced the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts the CRA owes to individuals and… {Read more}
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Canada’s Underground Economy
Save yourself the trouble — get it in writing! Before you decide to hire a contractor to do construction, renovation, or repair work on your home, ensure they are reputable and insist on getting a written contract and receipts. Be… {Read more}
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CRA Mobile App
Remembering business-related tax deadlines just got a lot easier with the CRA’s Business Tax Reminders mobile app Did you know? While Small Business Week comes only once a year, the Canada Revenue Agency (CRA) recognizes the unique needs of small… {Read more}
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Get CRA social media savvy
Social media has always been a great way to keep in touch with family and friends, but now it’s a convenient way to get information on taxes and on government programs. Canada Revenue Agency social media channels can help you… {Read more}
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Do you have to file a tax return
A tax return must be filed if: You have to pay income taxes for the year; You have not repaid all amounts withdrawn from your RRSP under the Life Long Learning Plan; You have to pay CPP because your pensionable… {Read more}
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Business Owners How to Protect Your Assets
Owner-Managed Business-Creditor Proofing Every business owner should be concerned about creditor proofing his assets. Here are several suggestions to consider: Transfer assets out of the company: Place capital assets in a separate holding corporation so that subsequent legal claims that arise… {Read more}
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Incorporating a business?
If you own a business, you may have wondered if you should incorporate. Historically the income tax system in Canada has benefited incorporated Canadian small businesses. Although the income and deduction calculations are almost identical to an unincorporated business, the… {Read more}
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Website or Blog Advertising Income
If you have a website or a blog and you charge for advertising, links, or reviews, you must report the income on your Canadian income tax returns. Send invoices to your clients and customers. If your invoices exceed $30,000 in… {Read more}