Brampton, Ontario, May 14, 2013… The Canada Revenue Agency (CRA) announced that on May 10, 2013 John Lassu, of Etobicoke, pleaded guilty in the Ontario Court of Justice in Brampton to two counts of failing to file GST returns. Mr…. {Read more}
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Minister Menzies Promotes Canada as a Global Economic Leader
The Honourable Ted Menzies, Minister of State (Finance), attended the annual meeting of the European Bank for Reconstruction and Development (EBRD), that took place May 10-11 in Istanbul, Turkey, and met with key political and business leaders to promote trade… {Read more}
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Focused on Jobs, Growth and Long-Term Prosperity
Jim Flaherty, Minister of Finance, on April 29, 2013 introduced the Economic Action Plan 2013 Act, No. 1. The Act proposes to legislate key elements of Economic Action Plan 2013, including tax relief for investments in new manufacturing machinery and… {Read more}
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CRA revokes the registration of Trinity Global Support Foundation
The Canada Revenue Agency (CRA) will revoke the registration of Trinity Global Support Foundation, a London-based charity. The notice of revocation will be published in the Canada Gazette with an effective date of May 4, 2013. On February 1, 2013,… {Read more}
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Self employed individuals – Choosing a year-end
You can choose a year-end after December 31, so that you can defer tax on your first fiscal year until the calendar year in which the first year-end occurs. However, you will still have to pay tax based on a… {Read more}
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Make changes to your Return
It’s easy to make a correction to your income tax and benefit return if you realize you made a mistake after filing. Changing your return You will need to wait to receive your notice of assessment from the Canada Revenue… {Read more}
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Tax Debt in Canada
The spring 2013 Auditor General’s (AG) report provides the results of a follow-up review to determine the Canada Revenue Agency’s (CRA) progress against action plan commitments made in response to a 2006 audit of its tax collection program. Overall, the… {Read more}
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Reduce your Tax bill
If you owe tax at filing time each year, you can take steps to reduce your net tax owing. You can do this by having tax — or more tax — deducted at source from certain types of income. Important… {Read more}
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Corporation Internet Filing software
The Canada Revenue Agency (CRA) certifies commercial tax preparation software packages for use with the Corporation Internet Filing service. Corporation Internet Filing has been designed to accept a specific file format (“.cor” extension), and the CRA-certified software will include instructions… {Read more}
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Canada Pension Plan (CPP) Changes January 2011 to 2016
The following changes will be phased in gradually between 2011 and 2016. The first major change occurred in January 2011 for people retiring after age 65: Your monthly CPP retirement pension amount will increase by a larger percentage if you… {Read more}