The Canada Revenue Agency (CRA) is pleased to report that all of its online systems have been restored to full service as of April 13, 2014. Individuals, businesses and representatives are now able to file returns, make payments, and access all other e-services available through the CRA’s website, including all our secure portals. On April…
Category: Personal income tax news
Taxpayer Bill of Rights
You have the right to receive entitlements and to pay no more and no less than what is required by law. You have the right to service in both official languages. You have the right to privacy and confidentiality. You have the right to a formal review and a subsequent appeal. You have the right…
Employee Or Independent Contractor?
22 April 2013 Article by Earl Phillips How can you be sure the independent contractor you have retained will not be considered an employee? In a post last year we outlined the importance of the distinction, the consequences if you get it wrong, and the four tests that are typically applied. We concluded the four tests boiled down to this…
Are you self-employed?
Did you know? As a self-employed individual, you have until midnight on June 17, 2013 to file your 2012 income tax and benefit return. Don’t forget — you must pay any balance owing for 2012 on or before April 30, 2013, regardless of your filing date. Important facts If you earned self-employment income from a business you…
Are Scanned Documents Accepted as Proof in a Canadian Audit?
Can you throw away – or even better, recycle – your paper receipts once you’ve scanned them in? The answer is yes and no, I’ll explain. The CRA (Canada Revenue Agency) has guidelines about what type of records and documents are accepted for record keeping.
Change to the taxation of social security pensions received from Germany by a resident of Canada - BEGINNING 2005
While the taxation of German social security pensions is not a new issue, it is an issue that that is just now coming to the attention of many Canadian residents that are receiving German social security pension. There are issues on both the German end and the Canadian end. Please find attached links covering the…
Taxtips:
Canada Pension Plan changes for individuals aged 60 to 70: http://www.cra-arc.gc.ca/nwsrm/txtps/2011/tt111212-eng.html?utm_source=mediaroom&utm_medium=eml Right now is the time to review your stockportfolio. If you have capital gains during this or the last 3 years, identify the write-offs in your portfolio to take advantage of the capital losses for 2011, or for a loss carryback.
2012 Canada Pension Plan changes
There is a significant change in the Canada Pension plan effective January 1, 2012, where pensioners may be required to pay into the Canada Pension Plan, unless they op out. For more information, please call us or go to: http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/clcltng/cpp-rpc/cppchng-eng.html