cra

When You Owe the CRA Money

2018-07-25T15:11:56+00:00

Debts the Canada Revenue Agency collects The Canada Revenue Agency (CRA) collects amounts owing such as: individual income tax payroll deductions GST/HST remittances corporation income tax customs, excise, and other levies benefit overpayments including: Canada child benefit GST/HST credit The CRA also collects the following amounts owed for other government

When You Owe the CRA Money2018-07-25T15:11:56+00:00

Tips to Avoid CRA Adjustments

2018-07-18T15:28:21+00:00

Here are some tips from the Canada Revenue Agency’s review programs. Following these tips should help reduce the number of adjustments the CRA needs to make to returns each year. No reply received If you do not provide the information requested within the timeframe indicated on the letter, the CRA

Tips to Avoid CRA Adjustments2018-07-18T15:28:21+00:00

Why Have Your Benefit and Credit Payments Changed?

2018-07-04T15:10:30+00:00

Each summer, following the tax filing season, the Canada Revenue Agency (CRA) uses information from an individual’s income tax and benefit return, along with the return of their spouse or common-law partner, to calculate benefit and credit payments for the upcoming year. Starting in July, eligible benefit and credit recipients

Why Have Your Benefit and Credit Payments Changed?2018-07-04T15:10:30+00:00

Income Tax Being Reviewed? Do Not Worry.

2018-06-28T12:04:45+00:00

An income tax review is easier than you think!  Since Canada's tax system is based on self-assessment, these reviews help confirm that income amounts, deductions, and credits are reported correctly, and can be properly supported. It is OK. If you receive a letter from the Canada Revenue Agency (CRA) telling you that your income tax return

Income Tax Being Reviewed? Do Not Worry.2018-06-28T12:04:45+00:00

Medical Expense Tax Credit – Service Animals

2018-06-13T15:20:58+00:00

The Medical Expense Tax Credit – Service Animals (METC) provides tax relief in respect of certain expenses related to an animal specially trained to assist a patient in coping with the following impairments: blindness, profound deafness, severe autism, severe diabetes, severe epilepsy or a severe and prolonged impairment that markedly restricts the use

Medical Expense Tax Credit – Service Animals2018-06-13T15:20:58+00:00

Property Flipping? Know Your Tax Obligations!

2018-05-16T14:53:14+00:00

What is property flipping? Property flipping is when individuals, including real estate agents, buy and resell homes in a short period of time for a profit. This also includes buying and selling a property before its official sale or construction—a process called an “assignment sale” but sometimes also referred to as

Property Flipping? Know Your Tax Obligations!2018-05-16T14:53:14+00:00

Do Not be Scammed by Spoofed Phone Numbers

2018-05-09T15:54:39+00:00

The tax deadline has come and gone, however, scammers continue to pray on Canadian taxpayers.  You may get a phone call from a person aggressively telling you to pay the taxes you owe.  In order to trick Canadians into thinking they are indeed calling from the Canada Revenue Agency (CRA), scammers may change

Do Not be Scammed by Spoofed Phone Numbers2018-05-09T15:54:39+00:00

When Can You Expect Your 2017 Refund?

2018-05-02T15:19:26+00:00

It is the Canada Revenue’s goal to issue a notice of assessment, including any applicable refund, within: two weeks of receiving your electronically filed return; or eight weeks of receiving your paper filed return. These timelines are ONLY valid for returns received on or before their filing due dates. The CRA may take

When Can You Expect Your 2017 Refund?2018-05-02T15:19:26+00:00

Cannot Pay Your Balance Owing?

2018-04-11T16:11:15+00:00

What you can do if you cannot pay your balance owing? Even if you cannot pay all of your balance owing right away, file your return by the filing due date. So you can avoid a late-filing penalty. If you cannot pay your balance owing on or before April 30, 2018, we may accept a payment

Cannot Pay Your Balance Owing?2018-04-11T16:11:15+00:00

The Special Tax on RESP Accumulated Income Payments

2018-03-28T16:13:27+00:00

An accumulated income payment (AIP) is a payment from your registered education savings plan (RESP) that is not: an educational assistance payment a payment to a designated educational institution in Canada a refund of contributions to the subscriber or to the beneficiary a transfer to another RESP repayments under a Canada Education Savings Program or

The Special Tax on RESP Accumulated Income Payments2018-03-28T16:13:27+00:00