By Liz O'Dowd on September 4, 2012 
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In a recent Technical Interpretation, CRA noted that an employer-provided meal allowance will not be taxable where the following conditions are met: It must be a reasonable amount; The allowance is received to cover expenses while travelling away from the… {Read more}
By Liz O'Dowd on August 30, 2012 Leave a comment
In a recent Tax Alert titled “Abuse of Source Deductions and GST/HST Amounts Held in Trust” CRA warned that businesses must hold source deductions and GST/HST amounts in trust for the government. Penalties and interest and possibly personal liability for… {Read more}
By Liz O'Dowd on August 30, 2012 Leave a comment
The Government believes that Canada’s entrepreneurs should be able to focus on growing their business and creating jobs. By making use of the CRA’s online initiatives, businesses can access important information and services when it’s convenient for them. With input… {Read more}
By Liz O'Dowd on August 30, 2012 Leave a comment
Corporations with annual gross revenue of more than $1 million will be required to Internet file their corporation income tax returns for tax years ending after 2009. Corporations that are exempt from mandatory Internet filing are: insurance corporations non-resident corporations… {Read more}
By Liz O'Dowd on August 30, 2012 Leave a comment
[ws_table id=”8″] The rate for the tax credit first $200 of donations is the lowest personal tax rate, except for Quebec. The rate for the tax credit for donations in excess of $200 is the highest personal tax rate, except… {Read more}
By Liz O'Dowd on August 13, 2012 Leave a comment
The CRA’s online services make it faster and easier to handle your company’s tax matters. You, your employee, or your representative can file, pay, and access detailed information about your tax accounts–all online, all at your fingertips. To view all… {Read more}
By Liz O'Dowd on August 13, 2012 Leave a comment
The Pooled Registered Pension Plans Act (“the Act”), implements the federal portion of the framework for the establishment and administration of PRPPs. PRPPs will be professionally administered defined contribution pension plans targeted to employees and self-employed persons who do not… {Read more}
By Liz O'Dowd on August 13, 2012 Leave a comment
The Canada Revenue Agency (CRA) warns all Canadians to beware of telephone calls, mail, or email that claim to be from the CRA but are not. These are phishing scams that could result in identity thefts. Email scams may also… {Read more}
By Liz O'Dowd on August 9, 2012 Leave a comment
Charities play a very important role in Canadian society. As a donor, it is important to be informed and make wise decisions about your donations. Unfortunately, there are people who pretend to raise money for charity but keep the donations… {Read more}
By Liz O'Dowd on August 2, 2012 Leave a comment
During your summer vacation this year, will you be visiting any of Canada’cities, national parks, or world-class tourist destinations, or will you be enjoying the simple pleasure of lounging by the local pool? Wherever your summer vacation takes you, make… {Read more}