On January 3, 2025, the Canada Revenue Agency (CRA) will distribute the first Goods and Services Tax (GST) and Harmonized Sales Tax (HST) credit payments of the year. These quarterly, non-taxable benefits aim to help low- and modest-income Canadians offset the GST/HST they pay on goods and services. Eligibility Criteria: Payment Amounts for July 2024…
Canada Revenue Agency and the Digital World As the Globe and Mail reported recently, the Canada Revenue Agency (CRA) has started monitoring social media influencers and video-game streamers to ensure that such activities as paid endorsements and sponsorships align with annual income tax documents. At this point, the CRA is only monitoring influencers and gamers…
June 15 filing deadline approaches for self-employed individuals Self employed individuals and their spouses/common law partners have until midnight on Tuesday, June 15 to file their income tax returns. Any outstanding balances for 2009 had to be paid on or before April 30/2010. Click here to read more: http://www.cra-arc.gc.ca/
CRA announces electronic filing requirements for GST and HST Beginning July 1, 2010, all gst/hst registrants with annual taxable supplies over $1.5 million (in addition to some other less common situations contained within the release) will be required to filing electronically. Although these changes are only in effect for those mentioned above, the Government encourages…
CRA Announces Interest Rates For The First Quarter CRA has announced their interest rates for the first quarter of 2010. The rates include both the penalty rates for overdue balances as well as the prescribed rates for employee and shareholder loans: The interest rate charged on overdue taxes, Canada Pension Plan contributions, and Employment Insurance…
CRA’s New Mandatory E-Filing Requirements For Corporations The CRA has announced that for year-ends ending after January 2009 all corporations with revenues in excess of $1 million will be required to file their corporate T2 returns electronically. They will however only be assessing penalties to those T2 returns with tax years ending after 2010…
CRA Is Now Offering Online Payment Services It’s been a long time coming, but The Canada Revenue Agency is now offering electronic payments for individuals and businesses. Their new MyPayment system allows individuals to pay personal tax installments and balances as well as allowing businesses to pay the following accounts: