By Liz O'Dowd on May 10, 2013 
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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}
By Liz O'Dowd on May 2, 2013 Leave a comment
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}
By Liz O'Dowd on May 2, 2013 Leave a comment
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}
By Liz O'Dowd on May 2, 2013 Leave a comment
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}
By Liz O'Dowd on May 2, 2013 Leave a comment
When deciding as to whether a salary should be paid to a family member, or more specifically to one’s spouse, numerous questions arise. On one side, there is the question of the risk involved that the salary may be unreasonable… {Read more}
By Liz O'Dowd on April 23, 2013 Leave a comment
Canadian residents who invest in shares which are traded on U.S. stock exchanges are not required to file a U.S. income tax return because of these investments, unless there is some other reason (e.g., U.S. citizen) for filing a U.S…. {Read more}
By Liz O'Dowd on April 23, 2013 Leave a comment
If you owe tax for 2012 and do not file your return for 2012 on time, we will charge you a late-filing penalty. The penalty is 5% of your 2012 balance owing, plus 1% of your balance owing for each… {Read more}
By Liz O'Dowd on April 23, 2013 Leave a comment
Ottawa, Ontario, April 19, 2013… The Canada Revenue Agency (CRA) would like to remind Canadians that they have until midnight on April 30, 2013, to file their 2012 income tax and benefit return and to pay any balance owing. If… {Read more}
By Liz O'Dowd on April 16, 2013 Leave a comment
Ottawa, Ontario, April 9, 2013… The Honourable Gail Shea, Minister of National Revenue, today highlighted important new initiatives introduced by the Harper Government in Economic Action Plan 2013 to strengthen the capacity of the Canada Revenue Agency (CRA) to crack… {Read more}
By Liz O'Dowd on April 16, 2013 Leave a comment
Occasionally, taxpayers may receive, either by telephone, mail, or email, a communication that claims to be from the Canada Revenue Agency (CRA) but is NOT. In all these cases, the communication requests personal information, such as a social insurance, credit… {Read more}