Did you know? If you owe tax at filing time each year, you can take steps to reduce your amount owing. You can do this by having tax or more tax deducted at source from certain types of income.td1-14e Important… {Read more}
Tag: small business
Why you want to file a tax return
Even if none of these requirements apply, you can file a return if any of the following situations apply: You want to claim a refund. You want to claim the WITB for 2013 You want to apply for the GST/HST… {Read more}
Reducing Red Tape
Press Release from the Canada Revenue Agency Toronto, Ontario, October 25, 2013 The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, today met with business community leaders at a roundtable event in Toronto to highlight many of… {Read more}
Improved online services & reduces red tape to save time during tax season
Press release from Government of Canada March 20, 2014 – Winnipeg (Manitoba) – Canada Revenue Agency The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, accompanied by Joyce Bateman, Member of Parliament, Winnipeg South Centre, today met… {Read more}
Are you 65 or older? Claim your benefits and credits
Important information for seniors Age amount – You can claim this amount if you were 65 years of age or older on December 31, 2013, and your net income is less than $80,256. The maximum amount you can claim is… {Read more}
Claiming false GST/HST refunds is a crime
The Canada Revenue Agency (CRA) is taking action to stop various schemes used by people to claim unwarranted goods and services tax/harmonized sales tax (GST/HST) refunds. If you are thinking about participating in such a scheme, you should know that… {Read more}
RESP Canada Learning Bond
The Canada Learning Bond (CLB) is part of the Canadian RESP program. Actually the CLB is a grant. The big difference between this grant and the regular RESP grants is that no contribution is required. Once you qualify, you apply,… {Read more}
Employer-Paid Disability Premiums
If you think that paying for your employee’s disability premiums is always a good thing, think again. If you provide your employees disability as a nontaxable fringe benefit, payments they receive upon their disability will be, in most cases, FULLY… {Read more}
When is a T4 Slip Required?
Employment income paid to an individual by an employer is reported based on the date it is paid, not earned. As an example, if a pay cheque dated in January covers income earned in the last days of December, that… {Read more}
Filing Extension due to Heartbleed Bug
Published by the CRA, Thursday April 10 at 3pm EST: The CRA continues to work on resolving the issue. In keeping with industry practice, we are currently implementing a solution, or “patch”, for the bug, and are vigorously testing all… {Read more}