The Canada Revenue Agency announced that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2013 will be $51,100-up from $50,100 in 2012. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada. More information is available online. … Read more
The Canada Revenue Agency is taking steps to better inform and protect taxpayers from gifting tax shelter schemes. Starting with the 2012 tax year, the agency will put on hold the assessment of returns for individuals where a taxpayer is claiming a credit by participating in a gifting tax shelter scheme. This will avoid the … Read more
The Canada Revenue Agency (CRA) is informing tax preparers that starting Oct. 22, they can register with the CRA in order to comply with new mandatory electronic filing requirements. Starting January 2013, tax preparers who receive payment to prepare more than 10 income tax returns in a year will be required to file them electronically. … Read more
Agriculture Minister Gerry Ritz (Battlefords-Lloydminster, Sask.) and National Revenue Minister Gail Shea (Egmont, P.E.I.) highlighted ongoing efforts between the Government of Canada and the Government of Saskatchewan to cut red tape so that Canadian businesses can do what they do best – grow Canada's economy. Shea said that Canadians have a strong entrepreneurial spirit. Shea … Read more
The Canada Revenue Agency has added and improved a number of features, such as new result screens, to the Payroll Deductions Online Calculator to serve businesses better. Among other features, the new RC366 form tackles the red tape burden by letting businesses request direct deposit for GST/HST, Payroll and/or Corporation Income Tax to one or … Read more
National Revenue Minister Gail Shea (Egmont, P.E.I.) marked Small Business Week by highlighting the government's efforts through the Canada Revenue Agency to support small businesses and the important role they play in creating jobs and economic growth. The full release is available online. Call 613-995-2960.
National Revenue Minister Gail Shea (Egmont, P.E.I.) unveiled important new measures the Canada Revenue Agency (CRA) is undertaking as part of the government's plan to cut red tape. This will support businesses in creating jobs and economic growth. As part of its Red Tape Reduction efforts, the CRA has created a dedicated team that is … Read more
The Canada Revenue Agency announced that 1578398 Ontario Ltd., also known as M.A.R.S. Sales, of Toronto, Ont., was fined $8,848 after it plead guilty in the Ontario Court of Justice in Newmarket on Sept. 12, 2012, to one count of fraud under the Excise Tax Act. The fine has since been paid in full. The … Read more
The Canada Revenue Agency announced the prescribed annual interest rates that will apply to any amounts owed to the agency and to any amounts the agency owes to individuals and corporations. These rates are calculated quarterly in accordance with applicable legislation and will be in effect from Oct. 1, 2012 to Dec. 31, 2012. More … Read more
National Revenue Minister Gail Shea (Egmont, P.E.I.) met with members of the local Sudbury, Ont, business community to discuss a number of initiatives the Canada Revenue Agency has introduced to reduce the burden placed on small businesses. Shea explained that making information clear and accessible online is a promising step towards empowering and supporting small … Read more
