Get ready for online mail for business Starting in spring 2025, the Canada Revenue Agency (CRA) will transition to online mail as the default method of delivering most business correspondence, reflecting the CRA’s ongoing commitment to enhancing service delivery. This means your business clients will stop receiving paper mail and will start receiving most of…
Category: Corporate income tax news
Update on the Canada Revenue Agency's administration of the proposed capital gains taxation changes
January 31, 2025 Ottawa, Ontario Canada Revenue Agency The Department of Finance announced today that it will introduce legislation in Parliament in due course, related to the capital gains inclusion rate change with a new effective date of January 1, 2026. The announcement confirms the government’s intention that, effective for dispositions that occur on or after January 1, 2026, the inclusion rate will…
Government in full damage control mode
https://www.thestar.com/news/canada/2017/10/16/feds-to-cut-small-business-tax.html Thus, the Trudeau government is in full damage control mode… Reducing the small business rate as per election promise, which they flipped on, and now flopped on, before ‘fixing’ the so called small business ‘tax loopholes’, which they previously placed as a condition. They altogether dropped the so called ‘converting income into capital gains’…
Save yourself the trouble — get it in writing!
Before you decide to hire a contractor to do construction, renovation, or repair work on your home, ensure they are reputable and insist on getting a written contract and receipts. Be sure to ask a lot of questions, and ask for proof of workers’ compensation or equivalent private liability insurance to cover injury and any…
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…
Deadlines
Today, January 31, 2013 is the deadline for corporations with October year ends to pay their corporate taxes, and July year ends to file their corporate tax returns. Also, those companies with October year ends and December quarter ends have GST returns due, as well as all monthly GST filers. February deadlines: February 10 –…
Taxpayer relief deadline is December 31, 2012
Ottawa, Ontario, November 30, 2012… The Canada Revenue Agency (CRA) reminds taxpayers and all tax registrants that they have until December 31, 2012, to file requests under the taxpayer relief provisions for the 2002 tax year and any reporting period that ended during the 2002 calendar year.
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.