When You Owe the CRA Money


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


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

Income Tax Being Reviewed? Do Not Worry.


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

Cannot Pay Your Balance Owing?


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

Interest and Penalties on Your Personal Income Tax


Interest If you have a balance owing for 2017, the Canada Revenue Agency charges compound daily interest starting May 1, 2018, on any unpaid amounts owing for 2017. This includes any balance owing if we reassess your return. In addition, the CRA will charge you interest on the penalties starting the day after your return is due.

Interest and Penalties on Your Personal Income Tax2018-01-31T14:29:39+00:00

Claiming Adoption and Related Expenses


As a parent, you can claim an amount for eligible adoption expenses related to the adoption of a child who is under 18 years of age. The maximum claim for each child is $15,453. You can only claim these incurred expenses in the tax year including the end of the adoption period for the child. Eligible adoption expenses you

Claiming Adoption and Related Expenses2017-12-21T16:02:03+00:00

What Are The Best Ways To Resolve Your Tax Issues


Sometimes you might disagree with your tax assessment from the Canada Revenue Agency (CRA). It may be because you think it’s wrong, you noticed information is missing, or you were assessed by the CRA because you didn’t respond to a notice to complete a tax return. Often, the easiest way to resolve an issue

What Are The Best Ways To Resolve Your Tax Issues2017-12-14T15:42:48+00:00

Students: What You Need to Know about Your Taxes


When you’re a student, every dollar counts. So make sure you’re getting all the tax credits, deductions, and benefits you are eligible for by doing your taxes. Even if you have little or no income, you should still file your tax return because you could get money back! Here are some tips to

Students: What You Need to Know about Your Taxes2017-11-08T14:34:24+00:00

Involved in the Sharing Economy? Know Your Tax Obligations


What is the sharing economy? The sharing economy is a technologically fuelled way to consume and access property and services. In this economy, communities pool, loan, and share their resources through networks of trust. The five key sectors of the sharing economy are: accommodation sharing ride sharing music and video streaming online staffing

Involved in the Sharing Economy? Know Your Tax Obligations2017-10-04T14:58:12+00:00

Reduce Your Tax Bill by Increasing Your Tax Deducted at Source


Did you know? If you owe tax at filing time each year, you can take steps to reduce your amount owing. You can do this by having tax or more tax deducted at source from certain types of income. Important facts You can ask to have tax, or more tax, deducted at source

Reduce Your Tax Bill by Increasing Your Tax Deducted at Source2017-07-05T15:43:14+00:00