By Liz O'Dowd on December 8, 2015 
Leave a comment
Wills and the Executor A will specifies your instructions as to how your assets will be distributed on your death. In the will, you name an executor to act as your personal representative and to deal with all the tax,… {Read more}
By Liz O'Dowd on November 27, 2015 Leave a comment
Changing your GST/HST return is easy to do Unique access code for GST/HST As part of its ongoing efforts to reduce red tape for businesses and simplify its electronic services, starting October 19, 2015, the Canada Revenue Agency (CRA) will provide all GST/HST… {Read more}
By Liz O'Dowd on November 27, 2015 Leave a comment
My business Account With My Business Account, you can choose to make your tax payments online directly from your bank using the pre-authorized debit (PAD) service. Stop worrying about forgotten instalment deadlines and being charged for late payments. You choose… {Read more}
By Liz O'Dowd on November 27, 2015 Leave a comment
Stay connected – To receive updates when new information is added to the CRA website, you can: Follow the CRA on Twitter – @CanRevAgency Subscribe to a CRA electronic mailing list Add our RSS feeds to your feed reader You… {Read more}
By Liz O'Dowd on November 27, 2015 Leave a comment
You’ve got online mail … from the Canada Revenue Agency What’s new? CRA has online mail The Canada Revenue Agency (CRA) has created a new service that allows businesses to receive some of their correspondence from the CRA online. It’s… {Read more}
By Liz O'Dowd on November 17, 2015 Leave a comment
Loans to Adult Children Parents quite often make loans to their adult children to help them purchase a car, a home, or for other reasons. A loan is different from a gift. The parent can charge interest so that the… {Read more}
By Liz O'Dowd on November 17, 2015 Leave a comment
Lifetime Capital Gains Exemption (LCGE) On January 1st, 2015, the LCGE increased to $813,600 of capital gains realized by an individual on qualified property. The LCGE has been indexed to inflation for the years following 2014. The new limits apply… {Read more}
By Liz O'Dowd on November 17, 2015 Leave a comment
Estate Plans Estate planners often suggest that the RRSP/RRIF holder designate a beneficiary of the plan. There are many advantages of estate plans: Probate fees can be avoided because the funds transfer direct to the beneficiary. The funds are not… {Read more}
By Liz O'Dowd on November 17, 2015 Leave a comment
In a Technical Interpretation, CRA was questioned about door prizes received by all attendees at a company social function. Door Prizes at Company Functions CRA commented that their tax-free $500 gifts and awards policy would apply to all attendees including… {Read more}
By Liz O'Dowd on November 10, 2015 Leave a comment
Vacation Time and Vacation Pay This employment standard has two parts: vacation time and vacation pay. Some employees have jobs that are exempt from the vacation with pay provisions of the ESA. For more information on these job categories, please… {Read more}