National Revenue Minister Gail Shea (Egmont, PE) and Ontario Minister of Finance Dwight Duncan highlighted the results of a study that estimates that Ontario businesses will save $136.7 million a year as the result of the single administration of Ontario's corporate tax. The report was prepared by PricewaterhouseCoopers LLP after it conducted a large-scale survey … Read more
National Revenue Minister Gail Shea (Egmont, PE) and Conservative MP Bernard Trottier (Etobicoke-Lakeshore, ON) visited the Toronto Board of Trade to promote a new credit introduced in the 2011 Economic Action Plan to help small businesses grow. The hiring credit for small business puts up to $1,000 back into the accounts of Canadian businesses, and … Read more
The Canada Revenue Agency announced that Christopher Paterson of Toronto pleaded guilty on March 19, 2012, in the Ontario Court of Justice in Toronto, to one count of fraud over $5,000. Paterson received an 18 month conditional sentence and 200 hours of community service. In addition, Paterson cannot prepare or file any tax returns or … 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 April 1, 2012 to June 30, 2012. Call … Read more
The Canada Revenue Agency announced that on March 12, 2012, Thomas Silverman of Vaughan was sentenced to three and a half years in prison and fined $500,000 after being found guilty in the Ontario Court of Justice in Newmarket for one count of fraud over $5,000. Silverman, a former chartered accountant, committed GST tax fraud … Read more
The Canada Revenue Agency issued a statement regarding ways Canadians can reduce the amount of tax owed. On the Canada Revenue Agency's website Canadians can learn more about the various credits and deductions that they may be entitled to and ways to save money when Canadians file their 2011 income tax and benefit return. The … Read more
The Canada Revenue Agency announced that March is Fraud Prevention Month across Canada and around the world, and the agency is reminding Canadians to protect themselves against fraud. Fraud Prevention Month also offers an opportunity for the agency to remind Canadians that some individuals are selling tax scams that have serious legal consequences. The full … Read more
The Canada Revenue Agency announced that on Feb. 24, 2012, Saturday J. Oton, was sentenced to six months jail, and one year probation. Oton was found guilty by a jury in the Ontario Court of Justice in Toronto, ON, on Dec.12, 2011, on one count of fraud over $5,000. The full release is available online. … Read more
The Canada Revenue Agency is reminding Canadians to file online and on time. The agency is taking steps to make it easier for Canadians to meet their tax obligations by including new online features and providing information on new tax credits. The agency offers a number of electronic services, including Quick Access, NETFILE, direct deposit, … Read more
The Canada Revenue Agency issued a statement reminding Canadians of the deadline to make RRSP contribution for 2011. Feb. 29, 2012, is the last day Canadians can contribute to an RRSP for the 2011 tax year. The amount Canadians can contribute to RRSPs each year without tax implications is determined by their RRSP deduction limit, … Read more
