CRA CERB Warning

Posted by & filed under Personal Tax.

Description: The Canada Revenue Agency – the CRA – is sending warning letters to 213,000 Canadians telling them that they may have been paid overpaid by the Canada Emergency Response Benefit (CERB) program. Those who have been paid too much will not have to pay the surplus back immediately, thanks to a government moratorium on… Read more »

CRA wants to do your taxes

Posted by & filed under Personal Tax.

Description: The Canada Revenue Agency (CRA) wants to do your taxes. That might save you some time and labour, but it doesn’t please everyone. In Britain and France where such a system has been tried, it has delivered some questionable results. And given that a 2017 report by the Auditor General of Canada said that… Read more »

Now That’s a Hack

Posted by & filed under Data security, Personal Tax.

Description: Several weeks after a cyber-attack, the Canada Revenue Agency (CRA) reports that it is “working diligently to restore access to all services as quickly as possible.” Taxpayers have found some of the familiar online services are still not being offered. The CRA says that the fact that some of its employees have been working… Read more »

They Want to Pay More Tax?

Posted by & filed under Personal Tax.

Description: This seems like quite a surprise: a group of young and wealthy Canadians wants to pay more in taxes. There are approximately 200 of these Canadians in the so-called Resource Movement, and they are arguing for the government to tax them – and others in the 1% class – with higher rates or new… Read more »

On the Farm

Posted by & filed under Personal Tax, Student life.

Description: Canadian farmers are getting some help from the federal government to pay for foreign workers. Because the workers will have to be quarantined for 14 days after entering Canada, the government will provide farmers with up to $1,500 per worker to cover pay during the quarantine period. Each year about 40,000 of these agricultural… Read more »

Tax Breaks – of a Sort

Posted by & filed under Personal Tax.

Description: During this highly unusual situation with Canada dealing with COVID-19, the Canada Revenue Agency (CRA) is giving some valuable extension room to Canadians. For instance, the normal April 30 deadline for most Canadians has been extended to June 1. CRA has set up a webpage to help Canadians keep up to date with these… Read more »

Let CRA Do Your Taxes?

Posted by & filed under Fraud, Personal Tax.

Description: The Canada Revenue Agency (CRA) had said they would make income tax preparation easier for Canadians. Globe and Mail columnist Rita Trichur has noted an inconsistency in the plan though: CRA has doubled the size of the form from four to eight pages. As she says, “Folks, it’s hard to know whether to laugh… Read more »

The Cost of Promises

Posted by & filed under Personal Tax, Student life.

Description: During the recent federal election campaign, the Liberal party promised to increase the basic personal deduction on our income taxes, saying it would lift thousands of Canadians out of poverty. But, of course, somebody has to pay. And now the Parliamentary Budget Office is saying these deductions will cost the federal government $21 billion… Read more »

Raise Our Taxes Please

Posted by & filed under Personal Tax.

Description: Billionaires and mere millionaires head for Davos this time of year for the World Economic Forum. This year though, some of those members of the wealthy elites are making the rather unusual request that their taxes be raised. An American group called Patriotic Millionaires is seeking a form of global changes to help shrink… Read more »

CRA Gets a “D”

Posted by & filed under Accounting Careers, Personal Tax.

Description: The Canadian Federation of Independent Business (CFIB) doesn’t think the Canada Revenue Agency (CRA) is doing a very good job responding to inquiries from its members. The federation has given the CRA a “D” grade, observing the tax agency takes too long to respond, and, when it does, businesses often get incomplete information. The… Read more »