Tax Alerts
AB - Interest Rates - 2018
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - No tax increases in 2018-19 provincial Budget
The Alberta Minister of Finance brought down the province’s 2018-19 Budget on March 22, 2018. There were no changes to personal or corporate tax rates announced in the Budget, and no changes to ...
The Alberta Minister of Finance brought down the province’s 2018-19 Budget on March 22, 2018. There were no changes to personal or corporate tax rates announced in the Budget, and no changes to ...
AB - Province announces upgrades to online tax services
The Alberta Tax and Revenue Administration (TRA) provides online tax services to individuals and businesses through its TRACS program. TRA has announced that new online services for a number of diffe...
The Alberta Tax and Revenue Administration (TRA) provides online tax services to individuals and businesses through its TRACS program. TRA has announced that new online services for a number of diffe...
AB - TEFU registration numbers extended to 2020
The Alberta Tax and Revenue Administration (TRA) has issued a Special Notice (Vol. 1, No. 40) with respect to the expiry date of current Tax Exempt Fuel User Numbers. Current numbers are scheduled to...
The Alberta Tax and Revenue Administration (TRA) has issued a Special Notice (Vol. 1, No. 40) with respect to the expiry date of current Tax Exempt Fuel User Numbers. Current numbers are scheduled to...
AB - Third Quarter Fiscal Update includes reduced deficit projection
The 2017-18 Third Quarter Fiscal Update announced by the provincial government at the end of February indicates that the province’s projected deficit for the 2017-18 fiscal year is down signific...
The 2017-18 Third Quarter Fiscal Update announced by the provincial government at the end of February indicates that the province’s projected deficit for the 2017-18 fiscal year is down signific...
AB - Province expands energy efficiency rebate program
The province of Alberta currently provides a rebate program for businesses which make investments in energy efficiency. The provincial government recently announced that that energy efficiency rebate ...
The province of Alberta currently provides a rebate program for businesses which make investments in energy efficiency. The provincial government recently announced that that energy efficiency rebate ...
AB - Personal tax credit amounts for 2018
For the 2018 tax year, individuals resident in the province of Alberta will be able to claim the following non-refundable personal tax credit amounts: Basic personal amount ………&h...
For the 2018 tax year, individuals resident in the province of Alberta will be able to claim the following non-refundable personal tax credit amounts: Basic personal amount ………&h...
AB - Personal income tax rates and brackets for 2018
For the 2018 tax year, the province of Alberta will levy personal income tax at the following individual income tax rates and brackets: 10% on taxable income between $18,915 and $128,145; 12% on t...
For the 2018 tax year, the province of Alberta will levy personal income tax at the following individual income tax rates and brackets: 10% on taxable income between $18,915 and $128,145; 12% on t...
AB - Province launches 2018-19 Budget consultation process
The provincial government has announced the start of the consultation process leading to the release of the 2018-19 Budget. That process has several components, including an online survey, which will ...
The provincial government has announced the start of the consultation process leading to the release of the 2018-19 Budget. That process has several components, including an online survey, which will ...
AB - Warning issued on fraudulent tax refund texts
The Alberta Tax and Revenue Administration (TRA) has issued a warning to Alberta taxpayers of a tax scam which is currently operating in the province. That tax scam involves fraudulent text messages ...
The Alberta Tax and Revenue Administration (TRA) has issued a warning to Alberta taxpayers of a tax scam which is currently operating in the province. That tax scam involves fraudulent text messages ...
AB - Interest Rates - 2018
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - CRA releases 2017 T1 tax return form for Alberta residents
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Alberta at the end of that year. The T1 form package (w...
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Alberta at the end of that year. The T1 form package (w...
AB - Changes to carbon levy take effect January 1
Effective as of January 1 2018, changes have been made to Alberta’s carbon levy program. Those changes include an increase in the carbon levy, from $20 per tonne to $30 per tonne. That change w...
Effective as of January 1 2018, changes have been made to Alberta’s carbon levy program. Those changes include an increase in the carbon levy, from $20 per tonne to $30 per tonne. That change w...
AB - 2018 payroll deduction tables for provincial income tax released
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which Alberta employers will use to determine employee source deductions for federal and provincial income tax, Canada Pension P...
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which Alberta employers will use to determine employee source deductions for federal and provincial income tax, Canada Pension P...
AB - Licensing of residential home builders now required
As of December 1, 2017, residential builders in Alberta require a license to build homes and secure warranty coverage. In order to be licensed, builders must provide information about their finances, ...
As of December 1, 2017, residential builders in Alberta require a license to build homes and secure warranty coverage. In order to be licensed, builders must provide information about their finances, ...
AB - Mandatory electronic filing of provincial corporate tax returns
The Alberta Tax and Revenue Administration has issued a Special Notice advising corporations of upcoming changes to filing requirements for income tax returns. The new requirements are effective for ...
The Alberta Tax and Revenue Administration has issued a Special Notice advising corporations of upcoming changes to filing requirements for income tax returns. The new requirements are effective for ...
AB - 2018 Alberta TD1 and TD1 Worksheet released
The Canada Revenue Agency has issued the Alberta TD1 Form and Worksheet which will be used by taxpayers resident in the province, and their employers, to determine required provincial income tax sourc...
The Canada Revenue Agency has issued the Alberta TD1 Form and Worksheet which will be used by taxpayers resident in the province, and their employers, to determine required provincial income tax sourc...
AB - Province announces TRA office holiday closure dates
Alberta’s Tax and Revenue Administration has announced that its offices will be closed from Monday December 25, 2017 to Monday January 1, 2018, inclusive. Offices will reopen at 8:15 a.m. on Tue...
Alberta’s Tax and Revenue Administration has announced that its offices will be closed from Monday December 25, 2017 to Monday January 1, 2018, inclusive. Offices will reopen at 8:15 a.m. on Tue...
AB - Changes to Carbon Levy Rates for 2018
The Alberta Tax and Revenue Administration (TRA) has announced the Carbon Levy Rates which will apply as of January 1, 2018. A listing of those rates can be found at www.finance.alberta.ca/publication...
The Alberta Tax and Revenue Administration (TRA) has announced the Carbon Levy Rates which will apply as of January 1, 2018. A listing of those rates can be found at www.finance.alberta.ca/publication...
AB - Updated bulletin issued on corporate income tax interest and penalties
Alberta corporations which fail to file corporate income tax returns by the required deadline, or which fail to remit corporate income tax amounts owed on time or in full may be subject to penalties a...
Alberta corporations which fail to file corporate income tax returns by the required deadline, or which fail to remit corporate income tax amounts owed on time or in full may be subject to penalties a...
AB - Province issues updated corporate income tax bulletin
The province of Alberta administers its own corporate income tax regime, and corporations which have a permanent establishment in the province are taxable in Alberta. The Alberta Tax and Revenue Admi...
The province of Alberta administers its own corporate income tax regime, and corporations which have a permanent establishment in the province are taxable in Alberta. The Alberta Tax and Revenue Admi...
AB - New consumer protection rules for condominium purchasers
The provincial government has announced that new rules to protect condo purchasers in the province will take effect in 2018. The new or revised rules generally seek to provide such purchasers with gr...
The provincial government has announced that new rules to protect condo purchasers in the province will take effect in 2018. The new or revised rules generally seek to provide such purchasers with gr...
AB - Provincial film and television grant program expanded
The government of Alberta has announced changes to its incentive programs for Alberta-based film and television productions, to adapt to changes in that industry. The new Screen-Based Production Gran...
The government of Alberta has announced changes to its incentive programs for Alberta-based film and television productions, to adapt to changes in that industry. The new Screen-Based Production Gran...
AB - Province announces new energy efficiency rebate program
Alberta residents will be able, until October 29, 2017, to take advantage of a new energy efficiency rebate program announced by the province. That program will provide rebates on purchases of a wide...
Alberta residents will be able, until October 29, 2017, to take advantage of a new energy efficiency rebate program announced by the province. That program will provide rebates on purchases of a wide...
AB - Minimum wage increase effective October 1
Effective as of October 1, 2017, the Alberta general minimum wage increased from $12.20 to $13.60 per hour. The next scheduled increase, to take effect on October 1, 2018, will raise that rate to $15....
Effective as of October 1, 2017, the Alberta general minimum wage increased from $12.20 to $13.60 per hour. The next scheduled increase, to take effect on October 1, 2018, will raise that rate to $15....
AB - IFTA Fuel Tax Rate Chart issued for third quarter of 2017
The Alberta Tax and Revenue Administration has released the International Fuel Tax Agreement (IFTA) Rates which will apply for the third quarter (July to September) of 2017. Those rates are used in th...
The Alberta Tax and Revenue Administration has released the International Fuel Tax Agreement (IFTA) Rates which will apply for the third quarter (July to September) of 2017. Those rates are used in th...
AB - Provincial government issues Carbon Tax Levy FAQ document
The Alberta Tax and Revenue Administration has issued a lengthy and detailed FAQ document addressing a number of issues related to the administration of the province’s Carbon Tax Levy. That FAQ...
The Alberta Tax and Revenue Administration has issued a lengthy and detailed FAQ document addressing a number of issues related to the administration of the province’s Carbon Tax Levy. That FAQ...
AB - Province seeking input on consumer protection laws
The provincial government is undertaking a review of Alberta’s consumer protection legislation in a number of areas, and is seeking input from the public. As part of the consultation process, s...
The provincial government is undertaking a review of Alberta’s consumer protection legislation in a number of areas, and is seeking input from the public. As part of the consultation process, s...
AB - Province releases first quarter fiscal statement
Alberta Finance has released the fiscal figures from the first quarter of the province’s 2017-18 fiscal year. Those figures show that while Alberta has recorded gains in jobs, housing, and expor...
Alberta Finance has released the fiscal figures from the first quarter of the province’s 2017-18 fiscal year. Those figures show that while Alberta has recorded gains in jobs, housing, and expor...
AB - Minimum wage increase takes effect October 1, 2017
The general minimum wage payable in the province will increase, effective as of October 1, 2017, from $12.20 per hour to $13.60 per hour. At the same time, the minimum wage payable to salespersons wi...
The general minimum wage payable in the province will increase, effective as of October 1, 2017, from $12.20 per hour to $13.60 per hour. At the same time, the minimum wage payable to salespersons wi...
AB - Using TRACS for corporate income tax refund deposits
The province of Alberta provides an online service – the TRACS service – through which individual and corporate taxpayers in the province can manage their provincial tax responsibilities. ...
The province of Alberta provides an online service – the TRACS service – through which individual and corporate taxpayers in the province can manage their provincial tax responsibilities. ...
AB - Province to review consumer protection legislation
The provincial government has announced that it will be undertaking a review of Alberta’s consumer protection legislation and that such review will include a public consultation process. That p...
The provincial government has announced that it will be undertaking a review of Alberta’s consumer protection legislation and that such review will include a public consultation process. That p...
AB - Changes to condominium consumer protection rules
The province is undertaking a review of legislation relating to condominium purchases and governance. That review process includes both open houses and an online survey, which will be launched once th...
The province is undertaking a review of legislation relating to condominium purchases and governance. That review process includes both open houses and an online survey, which will be launched once th...
AB - Province extends new tax credit application period
Earlier this year, the provincial government introduced the Capital Investment Tax Credit (CITC), which provides corporations in the province with a non-refundable tax credit equal to 10% of a corpora...
Earlier this year, the provincial government introduced the Capital Investment Tax Credit (CITC), which provides corporations in the province with a non-refundable tax credit equal to 10% of a corpora...
AB - Special Notice issued on new corporate income tax credits
Alberta Tax and Revenue administration has issued a Special Notice (Vol. 5, No. 46) providing details of two new corporate tax credits. The new credits – the Alberta Investor Tax Credit and the...
Alberta Tax and Revenue administration has issued a Special Notice (Vol. 5, No. 46) providing details of two new corporate tax credits. The new credits – the Alberta Investor Tax Credit and the...
AB - Provincial solar panel rebate program launched
Earlier this year, the provincial government announced that it would be providing a rebate program for homeowners, businesses, and non-profit organizations which install solar energy panels. That two...
Earlier this year, the provincial government announced that it would be providing a rebate program for homeowners, businesses, and non-profit organizations which install solar energy panels. That two...
AB - Interest Rates - 2017
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - June 30 filing deadline for calendar year companies
Corporations carrying on business in the province of Alberta must file a provincial corporate income tax return, in addition to the federal return. All such companies that have a calendar year end (i...
Corporations carrying on business in the province of Alberta must file a provincial corporate income tax return, in addition to the federal return. All such companies that have a calendar year end (i...
AB - Benefit year for Alberta Child Benefit starts July 1
July 1, 2017 is the start of the 2017-18 benefit year for recipients of the Alberta Child Benefit. As of that date, benefits receivable will increase to the following amounts: $1,114 ($92.83 per mo...
July 1, 2017 is the start of the 2017-18 benefit year for recipients of the Alberta Child Benefit. As of that date, benefits receivable will increase to the following amounts: $1,114 ($92.83 per mo...
AB - Changes to be made to provincial employment standards laws
The provincial government has announced that amendments will be made to Alberta’s employment standards legislation. The changes will extend the length of existing leaves (such as maternity and ...
The provincial government has announced that amendments will be made to Alberta’s employment standards legislation. The changes will extend the length of existing leaves (such as maternity and ...
AB - Changes to be made to recovery of tax credit payments
The provincial government has announced that changes will be made to the rules governing receipts of provincial tax credit payments following the death of a family member. The changes will be effectiv...
The provincial government has announced that changes will be made to the rules governing receipts of provincial tax credit payments following the death of a family member. The changes will be effectiv...
AB - Education property tax rates frozen for 2017-18
As announced in this year’s Budget, the province has frozen its education property tax rates for 2017-18. As a result, the residential/ farmland rate will remain at $2.48 per $1,000 of equalized...
As announced in this year’s Budget, the province has frozen its education property tax rates for 2017-18. As a result, the residential/ farmland rate will remain at $2.48 per $1,000 of equalized...
AB - Provincial online rebate program now available
The provincial government has announced that the third component of its Energy Efficiency Alberta program is available as of April 28, 2017. That component, the Residential Retail Products Program, al...
The provincial government has announced that the third component of its Energy Efficiency Alberta program is available as of April 28, 2017. That component, the Residential Retail Products Program, al...
AB - Province announces new energy efficiency rebate program
Effective as of April 28, 2017, Alberta residents who incur costs for qualifying energy efficient home improvement products will be able to claim a rebate from the province to help offset those costs....
Effective as of April 28, 2017, Alberta residents who incur costs for qualifying energy efficient home improvement products will be able to claim a rebate from the province to help offset those costs....
AB - Updated notice issued on carbon tax filing and remittance deadlines
Alberta Tax and Revenue Administration (TRA) has issued an updated notice listing the return filing and remittance due dates under the province’s new carbon levy program.The list of due dates in...
Alberta Tax and Revenue Administration (TRA) has issued an updated notice listing the return filing and remittance due dates under the province’s new carbon levy program.The list of due dates in...
AB - Changes made to political contributions tax credit
The province provides a tax credit for Albertans who make contributions to political parties, constituency associations, or candidates. The credit is calculated as 75% of the first $200 in donations, ...
The province provides a tax credit for Albertans who make contributions to political parties, constituency associations, or candidates. The credit is calculated as 75% of the first $200 in donations, ...
AB - Interest Rates - 2017
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - No major tax changes in 2017-18 Budget
There were no major tax changes and no new taxes announced in the 2017-18 Alberta Budget, which was brought down on March 16, 2017. The Budget papers, which are available at https://www.alberta.ca/bud...
There were no major tax changes and no new taxes announced in the 2017-18 Alberta Budget, which was brought down on March 16, 2017. The Budget papers, which are available at https://www.alberta.ca/bud...
AB - 2017-18 Budget date announced
Alberta’s President of the Treasury Board and Minister of Finance has announced that the province’s 2017-18 Budget will be tabled on Thursday, March 16, 2017. The press release announcing ...
Alberta’s President of the Treasury Board and Minister of Finance has announced that the province’s 2017-18 Budget will be tabled on Thursday, March 16, 2017. The press release announcing ...
AB - Province releases Third Quarter Fiscal Update
The Third Quarter Fiscal Update and Economic Statement which was released on February 23 indicated that the Alberta economy is expected to grow by 2.4% during 2017. The update, which is available on ...
The Third Quarter Fiscal Update and Economic Statement which was released on February 23 indicated that the Alberta economy is expected to grow by 2.4% during 2017. The update, which is available on ...
AB - Province issues updated carbon levy rates for 2017 and 2018
The province’s new carbon levy came into effect as of January 1, 2017, and the Alberta Tax and Revenue Administration (TRA) has published the Carbon Levy Rates which will apply during 2017 and b...
The province’s new carbon levy came into effect as of January 1, 2017, and the Alberta Tax and Revenue Administration (TRA) has published the Carbon Levy Rates which will apply during 2017 and b...
AB - Gaining access to locked-in pension funds
Alberta residents who have not yet retired but are holding pension plan funds in a locked-in retirement account (LIRA) or a Life Income Fund (LIF) can apply once per year to gain access to the funds i...
Alberta residents who have not yet retired but are holding pension plan funds in a locked-in retirement account (LIRA) or a Life Income Fund (LIF) can apply once per year to gain access to the funds i...
AB - Carbon tax return forms available for online filing
The province of Alberta imposed a carbon tax effective January 1, 2017, and a dedicated webpage providing information, publications, and forms related to that new tax has been created on the Alberta F...
The province of Alberta imposed a carbon tax effective January 1, 2017, and a dedicated webpage providing information, publications, and forms related to that new tax has been created on the Alberta F...
AB - Personal tax credit amounts for 2017
Alberta will provide the following personal tax credit amounts for the 2017 tax year. Basic personal amount …………………… $18,690 Age amount &helli...
Alberta will provide the following personal tax credit amounts for the 2017 tax year. Basic personal amount …………………… $18,690 Age amount &helli...
AB - Applications available for seniors’ home repair and renovation loans
The province of Alberta provides eligible seniors with low-interest loans for the purpose of making home repairs or doing renovations which increase the safety or accessibility of a home. To qualify ...
The province of Alberta provides eligible seniors with low-interest loans for the purpose of making home repairs or doing renovations which increase the safety or accessibility of a home. To qualify ...
AB - Individual Income Tax Rates and Brackets - 2017
The personal income tax rates and brackets which will apply for the 2017 tax year in the province of Alberta are as follows: 10% on taxable income between $18,690 and $126,625; 12% on taxable inco...
The personal income tax rates and brackets which will apply for the 2017 tax year in the province of Alberta are as follows: 10% on taxable income between $18,690 and $126,625; 12% on taxable inco...
AB - Interest Rates - 2017
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - Interest Rates - 2017
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - Change in provincial small business tax rate effective January 1
As announced in the province’s 2016-17 Budget, the Alberta small business corporate income tax rate will be reduced, effective as of January 1, 2017, from 3% to 2%. The small business rate is le...
As announced in the province’s 2016-17 Budget, the Alberta small business corporate income tax rate will be reduced, effective as of January 1, 2017, from 3% to 2%. The small business rate is le...
AB - Province implements new payday loan regulations
The province of Alberta has put in place new regulations with respect to the payday loan industry. The new regulations require payday lenders to provide all loans with installment plans, with no pena...
The province of Alberta has put in place new regulations with respect to the payday loan industry. The new regulations require payday lenders to provide all loans with installment plans, with no pena...
AB - Implementation of provincial carbon tax levy January 1, 2017
Alberta will be implementing a carbon levy, effective January 1, 2017, and the province has created a dedicated webpage to provide information about the levy and the transitional rules which will appl...
Alberta will be implementing a carbon levy, effective January 1, 2017, and the province has created a dedicated webpage to provide information about the levy and the transitional rules which will appl...
AB - Second Quarter Fiscal Update for 2016-17 released
The Second Quarter Fiscal Update and Economic Statement released recently by the provincial government shows a slight decrease in the anticipated deficit for the current fiscal year. The 2016-17 defi...
The Second Quarter Fiscal Update and Economic Statement released recently by the provincial government shows a slight decrease in the anticipated deficit for the current fiscal year. The 2016-17 defi...
AB - Holiday closure information for Tax and Revenue Administration offices
The Tax and Revenue Administration (TRA) of Alberta Finance has announced the dates on which its offices will be closed during the upcoming holiday season. All TRA offices will be closed from Monday ...
The Tax and Revenue Administration (TRA) of Alberta Finance has announced the dates on which its offices will be closed during the upcoming holiday season. All TRA offices will be closed from Monday ...
AB - Upcoming change to Alberta small business tax rate
As previously announced, the provincial government will be reducing the Alberta small business rate, effective January 1, 2017. As of that date, the small business income tax rate will be reduced from...
As previously announced, the provincial government will be reducing the Alberta small business rate, effective January 1, 2017. As of that date, the small business income tax rate will be reduced from...
AB - Tax and Revenue Administration provides online subscription service
The Alberta Tax and Revenue Administration provides an online subscription service which will notify subscribers of the release of new or updated provincial tax publications in a number of areas. The...
The Alberta Tax and Revenue Administration provides an online subscription service which will notify subscribers of the release of new or updated provincial tax publications in a number of areas. The...
AB - Province extends post-secondary tuition freeze
The provincial government has announced that the freeze on the cost of post-secondary tuition which is already in place will be extended to apply throughout the 2017-18 academic year. During that tim...
The provincial government has announced that the freeze on the cost of post-secondary tuition which is already in place will be extended to apply throughout the 2017-18 academic year. During that tim...
AB - Provincial carbon levy to be implemented January 1, 2017
Effective January 1, 2017, the province of Alberta will be implementing a carbon levy, and Alberta Tax and Revenue Administration has released an information package providing details of the implement...
Effective January 1, 2017, the province of Alberta will be implementing a carbon levy, and Alberta Tax and Revenue Administration has released an information package providing details of the implement...
AB - New investor tax credit provided for small business
As announced earlier this year, the province will be implementing a new Alberta Investor Tax Credit (AITC), and the provincial government has announced that enabling legislation for the credit will be...
As announced earlier this year, the province will be implementing a new Alberta Investor Tax Credit (AITC), and the provincial government has announced that enabling legislation for the credit will be...
AB - Interest Rates - 2016
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - Carbon levy rebate payments to begin in January 2017
The Alberta government has issued a notice reminding residents of the province that payments under the Carbon Levy Rebate program will begin in January 2017. The notice, which can be found at www.albe...
The Alberta government has issued a notice reminding residents of the province that payments under the Carbon Levy Rebate program will begin in January 2017. The notice, which can be found at www.albe...
AB - Change in tax payment methods effective September 1, 2016
As announced earlier this year, the Alberta Tax and Revenue Administration (TRA) ceased to accept cash payments of taxes, levies, and fees owed, effective as of September 1, 2016. As of that date, th...
As announced earlier this year, the Alberta Tax and Revenue Administration (TRA) ceased to accept cash payments of taxes, levies, and fees owed, effective as of September 1, 2016. As of that date, th...
AB - Province ends temporary exemption for marked fuel sales
The rules governing Alberta’s fuel tax regime provide that marked fuel vendors are required to ensure that marked fuel (which provides a partial fuel tax exemption of $0.09 per litre) is being s...
The rules governing Alberta’s fuel tax regime provide that marked fuel vendors are required to ensure that marked fuel (which provides a partial fuel tax exemption of $0.09 per litre) is being s...
AB - Province announces fiscal results for first quarter of 2016-17
The province has released its First Quarter report for the 2016-17 fiscal year, updating the revenue and expenditure projections which were originally announced in the Budget. Those updated projection...
The province has released its First Quarter report for the 2016-17 fiscal year, updating the revenue and expenditure projections which were originally announced in the Budget. Those updated projection...
AB - Upcoming changes to provincial minimum wage
Effective October 1, 2016, two changes will be made to Alberta’s minimum wage structure. As of that date, the current minimum wage of $11.20 per hour will be increased to $12.20 per hour. At the...
Effective October 1, 2016, two changes will be made to Alberta’s minimum wage structure. As of that date, the current minimum wage of $11.20 per hour will be increased to $12.20 per hour. At the...
AB - Province sets new rules for payday loan industry
The provincial government has announced that legislative changes which are effective as of August 1, 2016 will give Alberta the lowest payday loan rate of all the provinces. As of that date, the maxi...
The provincial government has announced that legislative changes which are effective as of August 1, 2016 will give Alberta the lowest payday loan rate of all the provinces. As of that date, the maxi...
AB - New Alberta Child Benefit program now in place
The new Alberta Child Benefit (ACB) program, which provides direct financial assistance to families with children under the age of 18 that have a family net income of less than $41,220 per year, is be...
The new Alberta Child Benefit (ACB) program, which provides direct financial assistance to families with children under the age of 18 that have a family net income of less than $41,220 per year, is be...
AB - Two new royalty programs to be implemented in 2017
The provincial government has announced that two new royalty programs – the Enhanced Hydrocarbon Recovery Program (EHRP) and the Emerging Resources Program (ERP) – will be made available b...
The provincial government has announced that two new royalty programs – the Enhanced Hydrocarbon Recovery Program (EHRP) and the Emerging Resources Program (ERP) – will be made available b...
AB - Changes to Alberta Employment Tax Credit effective July 1
As previously announced, changes will be made to the province’s Family Employment Tax Credit, effective as of July 1, 2016. Those changes will expand the number of families in the province eligi...
As previously announced, changes will be made to the province’s Family Employment Tax Credit, effective as of July 1, 2016. Those changes will expand the number of families in the province eligi...
AB - Interest and penalty waiver available to fire-affected businesses
The provincial government has announced that Alberta businesses and corporations which were affected by the May wildfire and mandatory evacuation are eligible to have penalties and interest charges as...
The provincial government has announced that Alberta businesses and corporations which were affected by the May wildfire and mandatory evacuation are eligible to have penalties and interest charges as...
AB - Fiscal update for third quarter of 2015-16 released
The fiscal update for the third quarter of 2015-16 which was recently released by the province indicates that the province will run a deficit of $6.3 billion for 2015-16. Total revenue for that fisca...
The fiscal update for the third quarter of 2015-16 which was recently released by the province indicates that the province will run a deficit of $6.3 billion for 2015-16. Total revenue for that fisca...
AB - 2016 Personal Tax Credit Amounts
For the 2016 tax year, the province will provide the following non-refundable tax credit amounts. Basic personal amount ………………………&hellip...
For the 2016 tax year, the province will provide the following non-refundable tax credit amounts. Basic personal amount ………………………&hellip...
AB - 2016 Individual Tax Rates and Brackets
The tax rates and brackets which will apply to individual taxpayers in Alberta for the 2016 tax year are as follows. $0 to $125,000 – 10% $125,001 to $150,000 – 12% &n...
The tax rates and brackets which will apply to individual taxpayers in Alberta for the 2016 tax year are as follows. $0 to $125,000 – 10% $125,001 to $150,000 – 12% &n...
ReFILE service for changing individual income tax returns
It is not uncommon for taxpayers to discover an error or omission in an already-filed return, and the usual means by which such error can be corrected is the filing of a T1-Adjustment form. While a co...
It is not uncommon for taxpayers to discover an error or omission in an already-filed return, and the usual means by which such error can be corrected is the filing of a T1-Adjustment form. While a co...
CRA issues reminder of taxability of income from “sharing economy”
The Canada Revenue Agency (CRA) has issued a reminder to taxpayers who receive income from the “sharing economy” that such income is taxable and must be reported on the annual tax return. ...
The Canada Revenue Agency (CRA) has issued a reminder to taxpayers who receive income from the “sharing economy” that such income is taxable and must be reported on the annual tax return. ...
Bank of Canada interest rate announcement dates for 2018
The Bank of Canada’s regularly scheduled interest rate announcement dates for the remainder of calendar year 2018 are as follows: April 18, 2018; May 30, 2018; July 11, 2018; S...
The Bank of Canada’s regularly scheduled interest rate announcement dates for the remainder of calendar year 2018 are as follows: April 18, 2018; May 30, 2018; July 11, 2018; S...
CRA issues update on home sale reporting requirements
Proceeds received from the sale of one’s principal residence are, in most circumstances, not taxable, as such sales are eligible for the principal residence exemption. However, as of the 2016 ta...
Proceeds received from the sale of one’s principal residence are, in most circumstances, not taxable, as such sales are eligible for the principal residence exemption. However, as of the 2016 ta...
Significant increase in inflation rate for February
The most recent release of Statistics Canada’s Consumer Price Index shows a sharp increase in inflation for the month of February. That rate stood at 2.2%, while the rate for January 2018 was 1....
The most recent release of Statistics Canada’s Consumer Price Index shows a sharp increase in inflation for the month of February. That rate stood at 2.2%, while the rate for January 2018 was 1....
Prescribed interest rates for second quarter of 2018
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the second quarter of 2018, as well as the rates that will apply for the purpose...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the second quarter of 2018, as well as the rates that will apply for the purpose...
CRA issues warning on tax scams
While taxpayers fall victim to tax scams year-round, such scams are more prevalent during and just following tax filing season. During that time, taxpayers expect to hear from the tax authoritie...
While taxpayers fall victim to tax scams year-round, such scams are more prevalent during and just following tax filing season. During that time, taxpayers expect to hear from the tax authoritie...
CRA publication on changes to Voluntary Disclosure Program available online
In December 2017, the Canada Revenue Agency (CRA) announced that substantive changes would be made to the Agency’s Voluntary Disclosure Program (VDP). That program enables taxpayers who are in d...
In December 2017, the Canada Revenue Agency (CRA) announced that substantive changes would be made to the Agency’s Voluntary Disclosure Program (VDP). That program enables taxpayers who are in d...
CRA issues e-filers manual for 2017 returns
The Canada Revenue Agency has issued its Guide RC4018, Electronic Filers Manual for 2017 Income Tax and Benefit Returns. That guide is for use by certified e-filers in filing individual income tax ret...
The Canada Revenue Agency has issued its Guide RC4018, Electronic Filers Manual for 2017 Income Tax and Benefit Returns. That guide is for use by certified e-filers in filing individual income tax ret...
Unemployment rate down slightly in February
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline in the overall unemployment rate for the month of February 2018. That rate declined from 5.9% in the mont...
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline in the overall unemployment rate for the month of February 2018. That rate declined from 5.9% in the mont...
Increase in Consumer Price Index for January
The most recent release of Statistics Canada’s Consumer Price Index indicates that the rate of inflation for the month of January 2018 stood at 1.7%. The rate for the previous month was 1.9%. I...
The most recent release of Statistics Canada’s Consumer Price Index indicates that the rate of inflation for the month of January 2018 stood at 1.7%. The rate for the previous month was 1.9%. I...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on March 7, the Bank of Canada indicated that no change would be made to current interest rates. Accordingly, the bank rate remains at 1.5%. ...
In its regularly scheduled interest rate announcement made on March 7, the Bank of Canada indicated that no change would be made to current interest rates. Accordingly, the bank rate remains at 1.5%. ...
Budget 2018 - Personal tax credits
Budget 2018: No personal tax credits have been repealed, and there are no new personal tax rate changes....
Budget 2018: No personal tax credits have been repealed, and there are no new personal tax rate changes....
Budget 2018 - Foreign-born Status Indians
Budget 2018: Foreign-born Status Indians may now be eligible for child benefits, retroactive to 2005....
Budget 2018: Foreign-born Status Indians may now be eligible for child benefits, retroactive to 2005....
Budget 2018 - Service animals
Budget 2018: Eligibility of specially trained service animals will be expanded for the purposes of the medical expense tax credit....
Budget 2018: Eligibility of specially trained service animals will be expanded for the purposes of the medical expense tax credit....
Budget 2018 - Canada Workers Benefit
Budget 2018: Taxpayers will no longer need to apply when filing their return in order to receive the Canada Workers Benefit....
Budget 2018: Taxpayers will no longer need to apply when filing their return in order to receive the Canada Workers Benefit....
Budget 2018 - Working Income Tax Benefit amounts
Budget 2018: The Working Income Tax Benefit amounts are enhanced as of 2019, and the credit is renamed the Canada Workers Benefit...
Budget 2018: The Working Income Tax Benefit amounts are enhanced as of 2019, and the credit is renamed the Canada Workers Benefit...
Budget 2018 - Non-resident surplus stripping rules
Budget 2018: The non-resident surplus stripping rules are tightened to address the use of partnerships and trusts....
Budget 2018: The non-resident surplus stripping rules are tightened to address the use of partnerships and trusts....
Budget 2018 - CRA compliance orders
Budget 2018: Where a CRA compliance order or information requirement is contested, a new rule will “stop the clock” to prevent the tax year from being statute barred....
Budget 2018: Where a CRA compliance order or information requirement is contested, a new rule will “stop the clock” to prevent the tax year from being statute barred....
Budget 2018 - RDTOH
Budget 2018: A corporation will have two RDTOH accounts going forward: eligible and non-eligible RDTOH....
Budget 2018: A corporation will have two RDTOH accounts going forward: eligible and non-eligible RDTOH....
Budget 2018 - Investment income
Budget 2018: A corporation with $100,000 of investment income will have its small business limit reduced to $250,000....
Budget 2018: A corporation with $100,000 of investment income will have its small business limit reduced to $250,000....
Budget 2018 - Corporations' small business limit
Budget 2018: A corporation’s small business limit will be reduced where the corporation earns investment income exceeding $50,000....
Budget 2018: A corporation’s small business limit will be reduced where the corporation earns investment income exceeding $50,000....
Extended hours for CRA telephone help line
The Canada Revenue Agency (CRA) provides a 1-800 telephone service to provide tax information to Canadian taxpayers. Such information can be general in nature, or can involve the specific tax affairs ...
The Canada Revenue Agency (CRA) provides a 1-800 telephone service to provide tax information to Canadian taxpayers. Such information can be general in nature, or can involve the specific tax affairs ...
CRA issues list of approved software for NETFILING of 2017 returns
The Canada Revenue Agency’s NETFILE service for filing of individual income tax returns will be available starting Monday February 26, 2018. Taxpayers do not need to obtain an access code to fi...
The Canada Revenue Agency’s NETFILE service for filing of individual income tax returns will be available starting Monday February 26, 2018. Taxpayers do not need to obtain an access code to fi...
Unemployment rate up slightly in January
The most recent release of Statistics Canada’s Labor Force Survey shows a slight increase in the overall unemployment rate for the month of January. That rate rose by 0.1%, from 5.8% to 5.9%. T...
The most recent release of Statistics Canada’s Labor Force Survey shows a slight increase in the overall unemployment rate for the month of January. That rate rose by 0.1%, from 5.8% to 5.9%. T...
2018-19 Federal Budget date announced
The Federal Minister of Finance has announced that the 2018-19 federal Budget will be brought down on Tuesday, February 27, 2018. The Budget will be released at around 4 p.m. and the full Budget Pape...
The Federal Minister of Finance has announced that the 2018-19 federal Budget will be brought down on Tuesday, February 27, 2018. The Budget will be released at around 4 p.m. and the full Budget Pape...
Obtaining hard copy of a 2017 income tax return package
This year, the Canada Revenue Agency (CRA) will be providing taxpayers with hard copies of the 2017 Income Tax and Benefit package through a variety of means, and at various dates. Individuals who pa...
This year, the Canada Revenue Agency (CRA) will be providing taxpayers with hard copies of the 2017 Income Tax and Benefit package through a variety of means, and at various dates. Individuals who pa...
CRA announces NETFILE service availability dates for 2017 returns
The Canada Revenue Agency (CRA) has announced the date on which NETFILE service for the filing of individual income tax returns for the 2017 tax year will be available. NETFILE service will be availa...
The Canada Revenue Agency (CRA) has announced the date on which NETFILE service for the filing of individual income tax returns for the 2017 tax year will be available. NETFILE service will be availa...
CRA to mail tax return packages to selected taxpayers
While the majority of Canadians now file their individual income tax returns electronically, there is still a significant minority of tax filers who file using a printed return. The Canada Revenue Ag...
While the majority of Canadians now file their individual income tax returns electronically, there is still a significant minority of tax filers who file using a printed return. The Canada Revenue Ag...
CRA announces change to 2017 individual tax return forms
The Canada Revenue Agency (CRA) has posted a notice on its website that an “update” has been made to individual 2017 tax forms. Those forms are to be used by individual Canadians to file t...
The Canada Revenue Agency (CRA) has posted a notice on its website that an “update” has been made to individual 2017 tax forms. Those forms are to be used by individual Canadians to file t...
CRA reinstates telephone tax return filing service
For a number of years, taxpayers whose tax situation was relatively straightforward were able to file their return by telephone. That service, which was called TELEFILE, was withdrawn a few years ago....
For a number of years, taxpayers whose tax situation was relatively straightforward were able to file their return by telephone. That service, which was called TELEFILE, was withdrawn a few years ago....
Prescribed interest rates for first quarter of 2018
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2018, as well as the rates that will apply for the purpo...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2018, as well as the rates that will apply for the purpo...
Bank of Canada raises interest rates
As widely expected, the Bank of Canada indicated, in its regularly scheduled interest rate announcement made on January 17, that an increase in the bank rate was required. The Bank’s announceme...
As widely expected, the Bank of Canada indicated, in its regularly scheduled interest rate announcement made on January 17, that an increase in the bank rate was required. The Bank’s announceme...
Federal Budget 2018-19 consultations to end January 26
Finance Canada has announced that the consultation process leading to the release of the 2018-19 federal Budget will conclude on Friday January 26, 2018. Canadians can provide input by submitting the...
Finance Canada has announced that the consultation process leading to the release of the 2018-19 federal Budget will conclude on Friday January 26, 2018. Canadians can provide input by submitting the...
CRA issues individual T1 Tax Return Form and Guide for 2017
The Canada Revenue Agency has released the T1 Individual Income Tax Return and Benefit form to be used by individual Canadian taxpayers in filing their return for the 2017 tax year. The T1 form is ava...
The Canada Revenue Agency has released the T1 Individual Income Tax Return and Benefit form to be used by individual Canadian taxpayers in filing their return for the 2017 tax year. The T1 form is ava...
Unemployment rate for December 2017 down to 5.7%
The most recent release of Statistics Canada’s Labour Force Survey indicates that the unemployment rate for the month of December 2017 stood at 5.7%. The last period for which that rate was reco...
The most recent release of Statistics Canada’s Labour Force Survey indicates that the unemployment rate for the month of December 2017 stood at 5.7%. The last period for which that rate was reco...
Small business tax rate reduced effective January 1
As previously announced, the federal small business tax rate is reduced to 10.0%, effective as of January 1, 2018. There is no change in the federal small business limit, which remains at $500,000. T...
As previously announced, the federal small business tax rate is reduced to 10.0%, effective as of January 1, 2018. There is no change in the federal small business limit, which remains at $500,000. T...
Automobile deduction and benefit limits for 2018
Finance Canada has announced the limits and thresholds which will apply for purposes of determining automobile benefits and deductions during 2018. Most such deduction limits and thresholds are uncha...
Finance Canada has announced the limits and thresholds which will apply for purposes of determining automobile benefits and deductions during 2018. Most such deduction limits and thresholds are uncha...
CRA issues guidance on upcoming changes to small business tax rules
Planned changes to the federal income tax rules governing the taxation of small incorporated Canadian businesses are to take effect for 2018. One of those changes will include greater restrictions on ...
Planned changes to the federal income tax rules governing the taxation of small incorporated Canadian businesses are to take effect for 2018. One of those changes will include greater restrictions on ...
Changes to be made to Voluntary Disclosure Program
The Canada Revenue Agency (CRA) provides an administrative program under which taxpayers who have failed to file returns or pay taxes on a timely basis can bring their tax affairs into compliance, usu...
The Canada Revenue Agency (CRA) provides an administrative program under which taxpayers who have failed to file returns or pay taxes on a timely basis can bring their tax affairs into compliance, usu...
Age 71 final RRSP contribution to be made by December 31
Taxpayers who are turning age 71 during the year and who have available contribution room are entitled to make a final RRSP contribution for that year. Such contributions must be made by the end of t...
Taxpayers who are turning age 71 during the year and who have available contribution room are entitled to make a final RRSP contribution for that year. Such contributions must be made by the end of t...
NETFILE service for 2016 returns available until January 19
Taxpayers who have not yet filed their return for the 2016 tax year will have until January 19, 2018 to file that return using NETFILE. Until that date, returns for the 2013, 2014, 2015, and 2016 tax ...
Taxpayers who have not yet filed their return for the 2016 tax year will have until January 19, 2018 to file that return using NETFILE. Until that date, returns for the 2013, 2014, 2015, and 2016 tax ...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on December 6, the Bank of Canada indicated that, in its view, no change is required to current rates. Accordingly, the bank rate remains at ...
In its regularly scheduled interest rate announcement made on December 6, the Bank of Canada indicated that, in its view, no change is required to current rates. Accordingly, the bank rate remains at ...
Unemployment rate down in November
The most recent release of Statistic’s Canada’s Labour Force Survey shows a slight decline in the overall unemployment for the month of November. That rate declined by 0.4%, to 5.9%. The N...
The most recent release of Statistic’s Canada’s Labour Force Survey shows a slight decline in the overall unemployment for the month of November. That rate declined by 0.4%, to 5.9%. The N...
T4127 for 2018 payroll deduction amounts released
The Canada Revenue Agency has issued the 2018 version of its publication T4127(E), Payroll Deductions Formulas. The guide is intended for use by payroll software providers and by employers which manag...
The Canada Revenue Agency has issued the 2018 version of its publication T4127(E), Payroll Deductions Formulas. The guide is intended for use by payroll software providers and by employers which manag...
CRA issues federal TD1 Form and TD1 Worksheet for 2018
The Canada Revenue Agency has issued the federal TD1 Form and Worksheet which will be used by taxpayers and their employers to determine required federal income tax source deductions for the upcoming ...
The Canada Revenue Agency has issued the federal TD1 Form and Worksheet which will be used by taxpayers and their employers to determine required federal income tax source deductions for the upcoming ...
Inflation rate up by 1.4% in October
The most recent release of Statistics Canada’s Consumer Price Index (CPI) shows an inflation rate of 1.4% for the month of October, as measured on a year-over-year basis. The equivalent rate for...
The most recent release of Statistics Canada’s Consumer Price Index (CPI) shows an inflation rate of 1.4% for the month of October, as measured on a year-over-year basis. The equivalent rate for...
Finance launches pre-budget consultations
Finance Canada has begun the consultation process leading to the release of the 2018-19 federal Budget. As part of that budget consultation process, the Minister of Finance is holding in-person publi...
Finance Canada has begun the consultation process leading to the release of the 2018-19 federal Budget. As part of that budget consultation process, the Minister of Finance is holding in-person publi...
CRA to provide online filing for trust tax and information returns
Effective as of January 8, 2018, administrators and representatives of qualifying Canadian trusts will be able to file trust income tax and information returns online, through the Canada Revenue Agenc...
Effective as of January 8, 2018, administrators and representatives of qualifying Canadian trusts will be able to file trust income tax and information returns online, through the Canada Revenue Agenc...
Employment Insurance premium rates for 2018
The federal government has announced the premium rates and maximum insurable earnings amount which will be in place for the 2018 calendar year. The premium rate for the year for employees has been se...
The federal government has announced the premium rates and maximum insurable earnings amount which will be in place for the 2018 calendar year. The premium rate for the year for employees has been se...
CRA announces CPP contribution rates and amounts for 2018
The Canada Revenue Agency (CRA) has announced the contribution rates and amounts for both employers and employees which will apply for 2018. Maximum pensionable earnings for the year will be $55,900 ...
The Canada Revenue Agency (CRA) has announced the contribution rates and amounts for both employers and employees which will apply for 2018. Maximum pensionable earnings for the year will be $55,900 ...
Slight increase in unemployment rate for October
The most recent release of Statistics Canada’s Labour Force Survey shows a very small increase in the overall unemployment rate for the month of October. That rate was up by 0.1 percentage point...
The most recent release of Statistics Canada’s Labour Force Survey shows a very small increase in the overall unemployment rate for the month of October. That rate was up by 0.1 percentage point...
Working income tax benefit advance payment application released
The federal government provides lower-income working Canadians with a Working income tax benefit, with the amount of that benefit dependent on the taxpayer’s income for the year from all sources...
The federal government provides lower-income working Canadians with a Working income tax benefit, with the amount of that benefit dependent on the taxpayer’s income for the year from all sources...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on October 25, the Bank of Canada determined that no change was needed to current rates. Accordingly, the bank rate remains at 1.25%. In the...
In its regularly scheduled interest rate announcement made on October 25, the Bank of Canada determined that no change was needed to current rates. Accordingly, the bank rate remains at 1.25%. In the...
Inflation rate up slightly in September
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of September, as measured on a year-over-year basis, stood at 1.6%. The...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of September, as measured on a year-over-year basis, stood at 1.6%. The...
Finance releases 2017-18 Economic and Fiscal Update
Figures announced by the Minister of Finance in this week’s 2017 Economic and Fiscal Update show an improvement in the federal government’s financial outlook for the current and upcoming f...
Figures announced by the Minister of Finance in this week’s 2017 Economic and Fiscal Update show an improvement in the federal government’s financial outlook for the current and upcoming f...
Changes announced to proposed new rules on small business taxation
Several months ago, the federal government proposed new rules which would significantly affect the taxation of private corporations. Those proposed rules generally sought to limit the ability of owner...
Several months ago, the federal government proposed new rules which would significantly affect the taxation of private corporations. Those proposed rules generally sought to limit the ability of owner...
Small business tax rate to be reduced
Finance Canada has announced that the federal small business tax rate, which is currently set at 10.5%, will be reduced in two stages. The first reduction will be effective as of January 1, 2018, whe...
Finance Canada has announced that the federal small business tax rate, which is currently set at 10.5%, will be reduced in two stages. The first reduction will be effective as of January 1, 2018, whe...
CRA policy on taxation of employee discounts
Employees who work in the retail sector frequently receive a discount when purchasing goods sold by their employer. Recent press reports have indicated that the Canada Revenue Agency (CRA) had or woul...
Employees who work in the retail sector frequently receive a discount when purchasing goods sold by their employer. Recent press reports have indicated that the Canada Revenue Agency (CRA) had or woul...
No change in unemployment rate for September
The most recent release of Statistics Canada’s Labor Force Survey indicates that, for the month of September, employment across Canada was substantially unchanged. For that month, the unemploym...
The most recent release of Statistics Canada’s Labor Force Survey indicates that, for the month of September, employment across Canada was substantially unchanged. For that month, the unemploym...
Obtaining a proof of income statement
Individual Canadians are sometimes required to provide proof of their income, often as part of an application for a mortgage or other form of credit. Such proof of income can be obtained from the Cana...
Individual Canadians are sometimes required to provide proof of their income, often as part of an application for a mortgage or other form of credit. Such proof of income can be obtained from the Cana...
Prescribed interest rates for 2017
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for 2017, as well as the rates that will apply for the purpose of calculating emp...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for 2017, as well as the rates that will apply for the purpose of calculating emp...
Increased inflation rate in August
The most recent release of Statistics Canada’s Consumer Price Index shows an increase in the overall rate of inflation for the month of August. The inflation rate for that month stood at 1.4%, a...
The most recent release of Statistics Canada’s Consumer Price Index shows an increase in the overall rate of inflation for the month of August. The inflation rate for that month stood at 1.4%, a...
Change announced in Employment Insurance premiums for 2018
The Minister of Finance has announced that a change will be made to the amount of Employment Insurance premiums to be paid, starting January 1, 2018. The Minister’s announcement, which can be f...
The Minister of Finance has announced that a change will be made to the amount of Employment Insurance premiums to be paid, starting January 1, 2018. The Minister’s announcement, which can be f...
October 2 deadline for submissions on small business tax change consultation
In its 2017-18 Budget, the federal government announced that it would be examining changes to the tax rules governing private corporations. More specifically, those changes would eliminate some of the...
In its 2017-18 Budget, the federal government announced that it would be examining changes to the tax rules governing private corporations. More specifically, those changes would eliminate some of the...
CRA issues new forms for reduction of source deductions
Taxpayers who are receiving employment income and/or Old Age Security payments are entitled to request that tax deductions being made from those payments be reduced. Such requests are made using form...
Taxpayers who are receiving employment income and/or Old Age Security payments are entitled to request that tax deductions being made from those payments be reduced. Such requests are made using form...
Small decline in unemployment rate for August
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline in the overall unemployment rate for the month of August. That rate declined by 0.1%, to 6.2%, which is t...
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline in the overall unemployment rate for the month of August. That rate declined by 0.1%, to 6.2%, which is t...
Updated publication issued on Taxpayer Relief Program
The Minister of National Revenue is authorized to provide relief to taxpayers from the imposition of penalties or interest in relation to tax amounts owed, under the Taxpayer Relief Program. Such rel...
The Minister of National Revenue is authorized to provide relief to taxpayers from the imposition of penalties or interest in relation to tax amounts owed, under the Taxpayer Relief Program. Such rel...
Bank of Canada announces interest rate increase
In its regularly scheduled interest rate announcement made on September 6, the Bank of Canada announced that it was increasing its target for the overnight rate, and that the Bank Rate now stands at 1...
In its regularly scheduled interest rate announcement made on September 6, the Bank of Canada announced that it was increasing its target for the overnight rate, and that the Bank Rate now stands at 1...
Input sought for financial sector consultation process
Finance Canada has announced that it has completed the first stage of its consultation with respect to the regulation of the federal financial sector. A consultation paper incorporating the comments ...
Finance Canada has announced that it has completed the first stage of its consultation with respect to the regulation of the federal financial sector. A consultation paper incorporating the comments ...
Upcoming due date for individual income tax instalment payment
The third individual instalment payment of income taxes for 2017 is due and payable on Friday, September 15. Taxpayers who are subject to the instalment requirement will have received an Instalment Re...
The third individual instalment payment of income taxes for 2017 is due and payable on Friday, September 15. Taxpayers who are subject to the instalment requirement will have received an Instalment Re...
Change in address for Canada Revenue Agency website
Individual and corporate taxpayers can deal with the Canada Revenue Agency (CRA) and carry out most of their tax obligations online, through the CRA’s website. The Agency also provides a great d...
Individual and corporate taxpayers can deal with the Canada Revenue Agency (CRA) and carry out most of their tax obligations online, through the CRA’s website. The Agency also provides a great d...
Increased inflation rate for July
The most recent release of Statistics Canada’s Consumer Price Index indicates that the overall inflation rate for the month of July stood at 1.2%, as measured on a year-over-year basis. The comp...
The most recent release of Statistics Canada’s Consumer Price Index indicates that the overall inflation rate for the month of July stood at 1.2%, as measured on a year-over-year basis. The comp...
First tax instalment reminders issued this month
During the month of August, the Canada Revenue Agency (CRA) will be issuing 2017 Tax Instalment Reminders, and many taxpayers will be receiving such Reminders for the first time. Individuals who need...
During the month of August, the Canada Revenue Agency (CRA) will be issuing 2017 Tax Instalment Reminders, and many taxpayers will be receiving such Reminders for the first time. Individuals who need...
NETFILE still available for filing of 2016 tax returns
Individuals who have not yet filed their tax return for the 2016 tax year can still file that return using the Canada Revenue Agency’s (CRA’s) online filing service NETFILE. The NETFILE se...
Individuals who have not yet filed their tax return for the 2016 tax year can still file that return using the Canada Revenue Agency’s (CRA’s) online filing service NETFILE. The NETFILE se...
CRA launches annual tax return processing review
The Canada Revenue Agency (CRA) has begun its annual tax return processing review, which seeks to confirm or verify that amounts reported by taxpayers on their 2016 income tax return were accurate and...
The Canada Revenue Agency (CRA) has begun its annual tax return processing review, which seeks to confirm or verify that amounts reported by taxpayers on their 2016 income tax return were accurate and...
Unemployment rate down slightly in July
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline of 0.2% in the overall unemployment rate for the month of July. That rate stood at 6.3% which was, as not...
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline of 0.2% in the overall unemployment rate for the month of July. That rate stood at 6.3% which was, as not...
Consultation process on tax planning using private corporations
As announced in this year’s Budget, the federal government has undertaken a consultation process with respect to tax planning strategies involving private corporations. As part of that consulta...
As announced in this year’s Budget, the federal government has undertaken a consultation process with respect to tax planning strategies involving private corporations. As part of that consulta...
Interest rate announcement dates for 2018
The Bank of Canada makes eight regularly scheduled interest rate announcements each year, and the Bank recently announced the dates on which those announcements will be made during 2018. Those dates a...
The Bank of Canada makes eight regularly scheduled interest rate announcements each year, and the Bank recently announced the dates on which those announcements will be made during 2018. Those dates a...
2017-18 federal and provincial benefit year commencing in July
The federal government and many of the provinces provide child and family benefits through a number of programs, most of which are administered by the Canada Revenue Agency (CRA). For many programs, ...
The federal government and many of the provinces provide child and family benefits through a number of programs, most of which are administered by the Canada Revenue Agency (CRA). For many programs, ...
Inflation rate down slightly in June
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of June was 1%, while the rate posted for May stood at 1.3%. Both rates...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of June was 1%, while the rate posted for May stood at 1.3%. Both rates...
Registering for online mail from the Canada Revenue Agency
Owing to security concerns, the Canada Revenue Agency does not transmit personal tax information by e-mail, and most CRA correspondence is therefore sent and received by regular mail.The CRA does, how...
Owing to security concerns, the Canada Revenue Agency does not transmit personal tax information by e-mail, and most CRA correspondence is therefore sent and received by regular mail.The CRA does, how...
Federal government consultation on tax planning strategies
Finance Canada has announced that it will be holding public consultations with respect to planned changes to the tax rules governing private corporations.The planned changes will eliminate tax plannin...
Finance Canada has announced that it will be holding public consultations with respect to planned changes to the tax rules governing private corporations.The planned changes will eliminate tax plannin...
Unemployment rate down slightly in June
The most recent release of Statistics Canada’s Labour Force Survey shows a slight decline in the overall unemployment rate for the month of June. That rate stood at 6.5%, down by 0.1% from the p...
The most recent release of Statistics Canada’s Labour Force Survey shows a slight decline in the overall unemployment rate for the month of June. That rate stood at 6.5%, down by 0.1% from the p...
Bank of Canada increases benchmark interest rate
As expected, in its regularly scheduled interest rate announcement made on July 12, the Bank of Canada increased the bank rate from 0.75% to 1.0%. In the announcement of the rate increase, which can ...
As expected, in its regularly scheduled interest rate announcement made on July 12, the Bank of Canada increased the bank rate from 0.75% to 1.0%. In the announcement of the rate increase, which can ...
Inflation rate down slightly for May
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation slowed slightly during the month of May. The year-over-year rate for that month stood...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation slowed slightly during the month of May. The year-over-year rate for that month stood...
CRA to provide new small business services
The Canada Revenue Agency (CRA) has announced that, following its consultation with respect to services provided by the Agency to small businesses, a number of new services will be provided. Those new...
The Canada Revenue Agency (CRA) has announced that, following its consultation with respect to services provided by the Agency to small businesses, a number of new services will be provided. Those new...
Tax changes effective July 1 for ride-sharing services
As announced in this year’s federal Budget, effective July 1, 2017 self-employed commercial ride-sharing drivers who provide taxable supplies of ride-sharing services will be required ...
As announced in this year’s federal Budget, effective July 1, 2017 self-employed commercial ride-sharing drivers who provide taxable supplies of ride-sharing services will be required ...
New return adjustment feature added to EFILE
The Canada Revenue Agency has introduced a new feature to its existing EFILE service, which will allow EFILE service providers to submit adjustment requests using certified software. Currently, the ne...
The Canada Revenue Agency has introduced a new feature to its existing EFILE service, which will allow EFILE service providers to submit adjustment requests using certified software. Currently, the ne...
Public transit tax credit eliminated after June 2017
As announced in the 2017 federal Budget, the federal tax credit for public transit costs is eliminated after June 2017. Taxpayers should note that the cancellation of the credit is effective for cost...
As announced in the 2017 federal Budget, the federal tax credit for public transit costs is eliminated after June 2017. Taxpayers should note that the cancellation of the credit is effective for cost...
Prescribed interest rates for first three quarters of 2017
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first three quarters of 2017, as well as the rates that will apply for th...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first three quarters of 2017, as well as the rates that will apply for th...
CRA holding public consultation on changes to Voluntary Disclosure Program
Canadian taxpayers who are in default of their filing and/or tax payment obligations can voluntarily disclose that default and have any associated penalties or interest charges waived under the federa...
Canadian taxpayers who are in default of their filing and/or tax payment obligations can voluntarily disclose that default and have any associated penalties or interest charges waived under the federa...
Unemployment rate up slightly in May
The most recent release of Statistics Canada’s Labour Force Survey shows that, while employment rose by 55,000 during the month of May, the overall unemployment rate increased by 0.1%. That resu...
The most recent release of Statistics Canada’s Labour Force Survey shows that, while employment rose by 55,000 during the month of May, the overall unemployment rate increased by 0.1%. That resu...
CRA to host webinar on determining employee status
Determining whether a particular individual is an employee or a self-employed independent contractor can be difficult, and an employer’s responsibilities with respect to each are quite different...
Determining whether a particular individual is an employee or a self-employed independent contractor can be difficult, and an employer’s responsibilities with respect to each are quite different...
Upcoming income tax instalment due date
The second instalment payment of individual income taxes for the 2017 tax year is due on or before Thursday June 15, 2017. Individual taxpayers who pay taxes by instalment will have received an instal...
The second instalment payment of individual income taxes for the 2017 tax year is due on or before Thursday June 15, 2017. Individual taxpayers who pay taxes by instalment will have received an instal...
Upcoming filing deadline for self-employed taxpayers
The Canada Revenue Agency (CRA) has issued a reminder to all self-employed taxpayers and their spouses that their individual income tax returns for the 2016 tax year are due on or before Thursday June...
The Canada Revenue Agency (CRA) has issued a reminder to all self-employed taxpayers and their spouses that their individual income tax returns for the 2016 tax year are due on or before Thursday June...
Federal government to match famine relief donations
The federal government has announced the creation of a Famine Relief Fund in response to the famine and resulting humanitarian crisis which is occurring in Nigeria, Somalia, South Sudan, and Yemen. A...
The federal government has announced the creation of a Famine Relief Fund in response to the famine and resulting humanitarian crisis which is occurring in Nigeria, Somalia, South Sudan, and Yemen. A...
Bank of Canada maintains interest rates at current levels
In its regularly scheduled interest rate announcement made on May 24, the Bank of Canada indicated that, in its view, no change is need to current interest rates. Accordingly, the bank rate remains at...
In its regularly scheduled interest rate announcement made on May 24, the Bank of Canada indicated that, in its view, no change is need to current interest rates. Accordingly, the bank rate remains at...
Inflation rate for April unchanged
The most recent release of Statistics Canada’s Consumer Price Survey shows that there was no change in the overall inflation rate during the month of April 2017. That rate stood at 1.6%, as meas...
The most recent release of Statistics Canada’s Consumer Price Survey shows that there was no change in the overall inflation rate during the month of April 2017. That rate stood at 1.6%, as meas...
Changes made to procedures for online access by business representatives
Businesses can appoint someone else, often a tax professional, to deal with the Canada Revenue Agency (CRA) on their behalf. In order to have online access to tax information about the business, the r...
Businesses can appoint someone else, often a tax professional, to deal with the Canada Revenue Agency (CRA) on their behalf. In order to have online access to tax information about the business, the r...
Upcoming webinar on employee taxable benefits
The Canada Revenue Agency (CRA) will be holding a webinar for employers on the subject of employee taxable benefits. The webinar will be held on Wednesday May 24, 2017. The webinar is free of charge,...
The Canada Revenue Agency (CRA) will be holding a webinar for employers on the subject of employee taxable benefits. The webinar will be held on Wednesday May 24, 2017. The webinar is free of charge,...
Tax relief available for taxpayers affected by flood disaster
The Canada Revenue Agency (CRA) has issued a notice reminding Canadian taxpayers who have been affected by this spring’s floods of the availability of relief in relation to their tax filing and ...
The Canada Revenue Agency (CRA) has issued a notice reminding Canadian taxpayers who have been affected by this spring’s floods of the availability of relief in relation to their tax filing and ...
Slight decrease in unemployment rate for April
The most recent release of Statistics Canada’s Labour Force Survey shows a slight decrease in the overall unemployment rate for the month of April 2017, which dropped from 6.7% to 6.5%. The 6.5%...
The most recent release of Statistics Canada’s Labour Force Survey shows a slight decrease in the overall unemployment rate for the month of April 2017, which dropped from 6.7% to 6.5%. The 6.5%...
Interest charges on unpaid taxes begin May 2, 2017
Taxpayers who have unpaid tax balances for 2016 are subject to interest charges on those unpaid balances as of May 2, 2017. The current (until June 30, 2017) rate imposed on unpaid tax amounts by the...
Taxpayers who have unpaid tax balances for 2016 are subject to interest charges on those unpaid balances as of May 2, 2017. The current (until June 30, 2017) rate imposed on unpaid tax amounts by the...
Changing source deductions for 2017
This year’s federal Budget repealed and replaced several federal tax credits affecting caregivers of infirm and non-infirm family members. Those changes can in many cases affect the tax payable ...
This year’s federal Budget repealed and replaced several federal tax credits affecting caregivers of infirm and non-infirm family members. Those changes can in many cases affect the tax payable ...
Decrease in inflation rate for March 2017
The most recent release of Statistics Canada’s Consumer Price Index shows a drop in the overall inflation rate for the month of March 2017. The rate for that month stood at 1.6%, as measured on ...
The most recent release of Statistics Canada’s Consumer Price Index shows a drop in the overall inflation rate for the month of March 2017. The rate for that month stood at 1.6%, as measured on ...
Individual tax payment deadline May 1, 2017
For all individual Canadian taxpayers, the deadline for payment of tax amounts owed for the 2016 taxation year is midnight on Monday May 1, 2017. Payments which are not made in full by that deadline ...
For all individual Canadian taxpayers, the deadline for payment of tax amounts owed for the 2016 taxation year is midnight on Monday May 1, 2017. Payments which are not made in full by that deadline ...
Prescribed interest rates applicable for leasing rules purposes in April and May
The Canada Revenue Agency (CRA) has announced the prescribed interest rates which will apply for purposes of the leasing rules during the months of April and May 2017. They are as follows. April &hel...
The Canada Revenue Agency (CRA) has announced the prescribed interest rates which will apply for purposes of the leasing rules during the months of April and May 2017. They are as follows. April &hel...
Payment deadline and options for 2016 tax balances owed
The Canada Revenue Agency (CRA) has issued a reminder to taxpayers that all tax amounts owed by individuals for the 2016 tax year are due by the end of April 2017. Since April 30 falls on a Sunday thi...
The Canada Revenue Agency (CRA) has issued a reminder to taxpayers that all tax amounts owed by individuals for the 2016 tax year are due by the end of April 2017. Since April 30 falls on a Sunday thi...
Bank of Canada maintains current interest rates
In its regularly scheduled interest rate announcement made on April 12, 2017, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the bank rate remains ...
In its regularly scheduled interest rate announcement made on April 12, 2017, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the bank rate remains ...
Unemployment rate up slightly for March 2017
The most recent release of Statistics Canada’s Labour Force Survey shows a small increase in the unemployment rate for the month of March 2017. That rate rose by 0.1%, to 6.7%. Among demographi...
The most recent release of Statistics Canada’s Labour Force Survey shows a small increase in the unemployment rate for the month of March 2017. That rate rose by 0.1%, to 6.7%. Among demographi...
Applying for advance payment of Working Income Tax Benefit
The federal government provides a Working Income Tax Benefit for lower-income Canadians who earn a minimum amount of income from employment or self-employment. The WITB is claimed on the annual tax r...
The federal government provides a Working Income Tax Benefit for lower-income Canadians who earn a minimum amount of income from employment or self-employment. The WITB is claimed on the annual tax r...
Extended hours provided for CRA’s individual tax help line
The Canada Revenue Agency (CRA) provides an Individual Income Tax Enquiries Line (reachable at 1-800-959 8281) for taxpayers who need general information about taxes, or have specific questions about ...
The Canada Revenue Agency (CRA) provides an Individual Income Tax Enquiries Line (reachable at 1-800-959 8281) for taxpayers who need general information about taxes, or have specific questions about ...
Slight decrease in inflation rate for February
The most recent release of Statistics Canada’s Consumer Price Index indicates that the inflation rate for the month of February stood at 2%, as measured on a year-over-year basis. The comparable...
The most recent release of Statistics Canada’s Consumer Price Index indicates that the inflation rate for the month of February stood at 2%, as measured on a year-over-year basis. The comparable...
Federal Budget projects $28.5 billion deficit for 2017-18
The federal Budget brought down on March 22, 2017 by Minister of Finance Bill Morneau included projections of a $28.5 billion deficit for the federal government for the current (2017-18) fiscal year. ...
The federal Budget brought down on March 22, 2017 by Minister of Finance Bill Morneau included projections of a $28.5 billion deficit for the federal government for the current (2017-18) fiscal year. ...
Budget 2017 - Review of Tax Planning Using Private Corporations
The Budget 2017 documents revealed that the government has been undergoing further reviews of various planning strategies relating to the use of private corporations that reduce personal income taxes ...
The Budget 2017 documents revealed that the government has been undergoing further reviews of various planning strategies relating to the use of private corporations that reduce personal income taxes ...
Budget 2017 - Taxi and Ride-Sharing Services
Effective July 1, 2017, Budget 2017 proposes to extend the GST/HST on taxi operators to ride-sharing services. Taxi operators are required to collect and remit GST/HST on their fares with no dollar ex...
Effective July 1, 2017, Budget 2017 proposes to extend the GST/HST on taxi operators to ride-sharing services. Taxi operators are required to collect and remit GST/HST on their fares with no dollar ex...
Budget 2017 - Billed-Basis Accounting
Generally, taxpayers are required to include the value of their work in progress (“WIP”) in their income whether or not they have actually received payment for performing the work. H...
Generally, taxpayers are required to include the value of their work in progress (“WIP”) in their income whether or not they have actually received payment for performing the work. H...
Budget 2017 - Home Relocation Loans Deduction
If a taxpayer receives a loan by virtue of their employment with an interest rate below a prescribed rate, he or she is deemed to have received a taxable benefit. However, taxpayers can claim an offse...
If a taxpayer receives a loan by virtue of their employment with an interest rate below a prescribed rate, he or she is deemed to have received a taxable benefit. However, taxpayers can claim an offse...
Budget 2017 - Medical Expense Tax Credit
Budget 2017 proposes to expand the medical tax credit to include costs paid for the purpose of conceiving a child regardless of whether the medical procedures involved are not medically indicated due ...
Budget 2017 proposes to expand the medical tax credit to include costs paid for the purpose of conceiving a child regardless of whether the medical procedures involved are not medically indicated due ...
Budget 2017 - Public Transit Tax Credit
Budget 2017 announced that the public transit tax credit will be repealed as of July 1, 2017. The non-refundable credit provided a 15% tax reduction with respect to eligible public transit passes such...
Budget 2017 announced that the public transit tax credit will be repealed as of July 1, 2017. The non-refundable credit provided a 15% tax reduction with respect to eligible public transit passes such...
Budget 2017 - Disability Tax Credit
Budget 2017 proposes to amend the eligibility criteria for the disability tax credit. One of the conditions required for the credit is that a medical practitioner certifies on CRA Form T2201 that the ...
Budget 2017 proposes to amend the eligibility criteria for the disability tax credit. One of the conditions required for the credit is that a medical practitioner certifies on CRA Form T2201 that the ...
CRA and Service Canada online services now linked
The Canada Revenue Agency (CRA) has announced that a link is now available between its website and that of Service Canada, for users of online services at both sites. Canadian taxpayers can carry out...
The Canada Revenue Agency (CRA) has announced that a link is now available between its website and that of Service Canada, for users of online services at both sites. Canadian taxpayers can carry out...
Update on CRA online service interruption
The Canada Revenue Agency (CRA) has issued a notice indicating that its online services have been restored, and that taxpayers are once again able to file their 2016 tax returns online, make payments,...
The Canada Revenue Agency (CRA) has issued a notice indicating that its online services have been restored, and that taxpayers are once again able to file their 2016 tax returns online, make payments,...
Mineral exploration tax credit extended to 2018
Individual investors in flow-through shares can claim a 15% federal Mineral Exploration Tax Credit. That federal tax credit was scheduled to expire as of March 31, 2017, but Finance Canada has announc...
Individual investors in flow-through shares can claim a 15% federal Mineral Exploration Tax Credit. That federal tax credit was scheduled to expire as of March 31, 2017, but Finance Canada has announc...
2017-18 federal Budget date announced
The Minister of Finance has announced that the 2017-18 federal Budget will be brought down on Wednesday, March 22, 2017. The announcement of the Budget date can be found on the Finance Canada website ...
The Minister of Finance has announced that the 2017-18 federal Budget will be brought down on Wednesday, March 22, 2017. The announcement of the Budget date can be found on the Finance Canada website ...
Bank of Canada maintains interest rates at current levels
In its regularly scheduled interest rate announcement made on March 1, the Bank of Canada indicated that, in its view, no change was needed to current interest rates. Accordingly, the bank rate remain...
In its regularly scheduled interest rate announcement made on March 1, the Bank of Canada indicated that, in its view, no change was needed to current interest rates. Accordingly, the bank rate remain...
Significant increase in inflation rate for January
The most recent release of Statistics Canada’s Consumer Price Index shows a sharp increase in the rate of inflation during the month of January. That rate stood at 2.1%, as measured on a year ov...
The most recent release of Statistics Canada’s Consumer Price Index shows a sharp increase in the rate of inflation during the month of January. That rate stood at 2.1%, as measured on a year ov...
CRA provides new T1 Adjustment service
The Canada Revenue Agency (CRA) has announced that, effective as of February 20, 2017, EFILE service providers will be able to submit T1 adjustments for clients online, using their EFILE software. Th...
The Canada Revenue Agency (CRA) has announced that, effective as of February 20, 2017, EFILE service providers will be able to submit T1 adjustments for clients online, using their EFILE software. Th...
NETFILE service for 2016 returns now available
The Canada Revenue Agency (CRA) has announced that its online NETFILE service for the filing of individual income tax returns is now available. NETFILE can be used to file individual tax returns for ...
The Canada Revenue Agency (CRA) has announced that its online NETFILE service for the filing of individual income tax returns is now available. NETFILE can be used to file individual tax returns for ...
Obtaining the 2016 income tax return form
The Canada Revenue Agency (CRA) formerly mailed hard copies of the individual income tax return form and guide to Canadian taxpayers, but that service is no longer provided. Taxpayers can, however, ob...
The Canada Revenue Agency (CRA) formerly mailed hard copies of the individual income tax return form and guide to Canadian taxpayers, but that service is no longer provided. Taxpayers can, however, ob...
Unemployment rate down slightly in January
The most recent release of Statistics Canada’s Labour Force Survey indicates that the overall unemployment rate fell slightly during the month of January 2017. That rate fell by 0.1%, from 6.9% ...
The most recent release of Statistics Canada’s Labour Force Survey indicates that the overall unemployment rate fell slightly during the month of January 2017. That rate fell by 0.1%, from 6.9% ...
NETFILE service for 2016 tax returns available February 20
The Canada Revenue Agency (CRA) has announced that its NETFILE service for the filing of individual income tax returns for the 2016 tax year will be available for use beginning on Monday, February 20,...
The Canada Revenue Agency (CRA) has announced that its NETFILE service for the filing of individual income tax returns for the 2016 tax year will be available for use beginning on Monday, February 20,...
CRA launches info line in response to data privacy breach
Recently, the Canada Revenue Agency (CRA) announced that encrypted data containing 2014 income tax information for 28,000 residents of the Yukon had been lost in transit. There is currently, according...
Recently, the Canada Revenue Agency (CRA) announced that encrypted data containing 2014 income tax information for 28,000 residents of the Yukon had been lost in transit. There is currently, according...
CRA issues 2016 Corporation Income Tax Return form
The Canada Revenue Agency (CRA) has released the T2 Corporation Income Tax Return Form to be used by corporations for the 2016 tax year. The federal T2 is used by all federal, provincial, and territo...
The Canada Revenue Agency (CRA) has released the T2 Corporation Income Tax Return Form to be used by corporations for the 2016 tax year. The federal T2 is used by all federal, provincial, and territo...
Prescribed leasing interest rates for first quarter of 2017
The Canada Revenue Agency (CRA) has announced the prescribed interest rates for leasing rules which will apply for the first quarter of 2017. Those rates are as follows: January ……&hell...
The Canada Revenue Agency (CRA) has announced the prescribed interest rates for leasing rules which will apply for the first quarter of 2017. Those rates are as follows: January ……&hell...
Individual income tax rates and brackets for 2017
The Canada Revenue Agency has indicated that an indexing factor of 1.4% will apply to federal individual income tax brackets for the 2017 tax year. The personal income tax brackets and rates which wil...
The Canada Revenue Agency has indicated that an indexing factor of 1.4% will apply to federal individual income tax brackets for the 2017 tax year. The personal income tax brackets and rates which wil...
Inflation up by 1.5% for December 2016
The most recent release of Statistics Canada’s Consumer Price Index (CPI) indicates that the rate of inflation for December 2016 stood at 1.5%, as measured on a year-over-year basis. Inflationa...
The most recent release of Statistics Canada’s Consumer Price Index (CPI) indicates that the rate of inflation for December 2016 stood at 1.5%, as measured on a year-over-year basis. Inflationa...
CRA announces meal and vehicle expense rates for 2016
Qualifying taxpayers can claim, on their annual returns, the cost of deductible vehicle and meal expenses incurred during the year. Taxpayers have the option of claiming either actual expenses incurre...
Qualifying taxpayers can claim, on their annual returns, the cost of deductible vehicle and meal expenses incurred during the year. Taxpayers have the option of claiming either actual expenses incurre...
Bank of Canada leaves interest rates unchanged
In its scheduled interest rate decision made on January 16, the Bank of Canada (BOC) announced that, in its view, no change was needed to current rates. Accordingly, the bank rate remains at 0.75%. &...
In its scheduled interest rate decision made on January 16, the Bank of Canada (BOC) announced that, in its view, no change was needed to current rates. Accordingly, the bank rate remains at 0.75%. &...
Upcoming final deadline for NETFILING of 2015 tax returns
The Canada Revenue Agency’s (CRA) NETFILE service will be available for NETFILING of individual income tax returns for the 2013, 2014, and 2015 taxation years until January 20, 2017. After that...
The Canada Revenue Agency’s (CRA) NETFILE service will be available for NETFILING of individual income tax returns for the 2013, 2014, and 2015 taxation years until January 20, 2017. After that...
Unemployment rate up slightly in December
The most recent release of Statistics Canada’s Labour Force Survey indicates that employment rose by 54,000 jobs during the month of December 2016, as the result of gains in full-time work. Des...
The most recent release of Statistics Canada’s Labour Force Survey indicates that employment rose by 54,000 jobs during the month of December 2016, as the result of gains in full-time work. Des...
Upcoming CRA webinars on employer source deductions
The Canada Revenue Agency will be holding a three-part webinar series on the source deduction obligations of employers. The webinars are free of charge, but pre-registration is required.The dates and ...
The Canada Revenue Agency will be holding a three-part webinar series on the source deduction obligations of employers. The webinars are free of charge, but pre-registration is required.The dates and ...
2016 individual tax and benefit package available online
The Canada Revenue Agency has announced that 2016 General Income Tax and Benefit package for the 2016 taxation year will be available on its website as of Thursday, January 5.The package, once availab...
The Canada Revenue Agency has announced that 2016 General Income Tax and Benefit package for the 2016 taxation year will be available on its website as of Thursday, January 5.The package, once availab...
Changes for tax preparers and professionals for 2017 filing season
The Canada Revenue Agency (CRA) has issued a listing of the administrative improvements and changes which will be in place for the upcoming 2017 filing season.Some of the changes include the following...
The Canada Revenue Agency (CRA) has issued a listing of the administrative improvements and changes which will be in place for the upcoming 2017 filing season.Some of the changes include the following...
Prescribed interest rates for first quarter of 2017
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2017, as well as the rates that will apply for the purpo...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2017, as well as the rates that will apply for the purpo...
CRA issues individual tax instalment calculation forms for 2017
Many Canadians who do not have income tax deducted from their paycheques at source pay such tax by quarterly instalments, on the 15th day of March, June, September, and December. Individuals who make...
Many Canadians who do not have income tax deducted from their paycheques at source pay such tax by quarterly instalments, on the 15th day of March, June, September, and December. Individuals who make...
CRA launches GST/HST compliance letter campaign
The Canada Revenue Agency (CRA) has announced that it will be conducting a GST/HST compliance letter campaign pilot project over the next 9 months. As part of that project, the Agency will send 250 l...
The Canada Revenue Agency (CRA) has announced that it will be conducting a GST/HST compliance letter campaign pilot project over the next 9 months. As part of that project, the Agency will send 250 l...
Bank of Canada leaves interest rates unchanged
As expected, the Bank of Canada made no change to current interest rates in its announcement made on December 7. Consequently, the bank rate remains at 0.75%. In its announcement, which can be found ...
As expected, the Bank of Canada made no change to current interest rates in its announcement made on December 7. Consequently, the bank rate remains at 0.75%. In its announcement, which can be found ...
Unemployment rate down slightly in November
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate declined slightly during November, dropping from 7% to 6.8%. During November, employm...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate declined slightly during November, dropping from 7% to 6.8%. During November, employm...
CRA webinar on payroll deductions for businesses
The Canada Revenue Agency (CRA) regularly holds webinars for businesses on how to fulfill their payroll reporting and remittance obligations. The last in the current series of such webinars, which wi...
The Canada Revenue Agency (CRA) regularly holds webinars for businesses on how to fulfill their payroll reporting and remittance obligations. The last in the current series of such webinars, which wi...
Upcoming deadline for submissions to consultation process on charities
The Canada Revenue Agency (CRA) has been conducting an online consultation process with respect to the rules governing the political activities of charities. Those rules impose limits on the kinds of ...
The Canada Revenue Agency (CRA) has been conducting an online consultation process with respect to the rules governing the political activities of charities. Those rules impose limits on the kinds of ...
Small increase in inflation rate for October
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation stood at 1.5% for the month of October, as measured on a year-over-year basis. The year-over-...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation stood at 1.5% for the month of October, as measured on a year-over-year basis. The year-over-...
Payroll deductions formulas for 2017 released
The Canada Revenue Agency (CRA) has issued the 2017 version of its publication T4127, which outlines and summarizes the payroll deductions formulas for computer programs which will be used beginning J...
The Canada Revenue Agency (CRA) has issued the 2017 version of its publication T4127, which outlines and summarizes the payroll deductions formulas for computer programs which will be used beginning J...
Changes made to business tax assessment notices
As of October 2016, changes were made to standard correspondence sent to business owners by the Canada Revenue Agency (CRA). Specifically, the CRA will be providing businesses with two new, simplified...
As of October 2016, changes were made to standard correspondence sent to business owners by the Canada Revenue Agency (CRA). Specifically, the CRA will be providing businesses with two new, simplified...
Employment Insurance premium rates for 2017
The federal government has announced the Employment Insurance premium rates which will apply for the 2017 calendar year. Total insurable earnings for the year have been set at $51,300. Employee premi...
The federal government has announced the Employment Insurance premium rates which will apply for the 2017 calendar year. Total insurable earnings for the year have been set at $51,300. Employee premi...
Canada Pension Plan contribution rates for 2017 announced
The Canada Revenue Agency (CRA) has announced the contribution rates and amounts which will apply for the 2017 calendar year. Maximum pensionable earnings for that year have been set at $55,300, and t...
The Canada Revenue Agency (CRA) has announced the contribution rates and amounts which will apply for the 2017 calendar year. Maximum pensionable earnings for that year have been set at $55,300, and t...
No change in unemployment rate in October
The most recent release of Statistics Canada’s Labour Force Survey shows that, while employment during the month of October increased by 44,000 jobs, the unemployment rate was unchanged at 7%. ...
The most recent release of Statistics Canada’s Labour Force Survey shows that, while employment during the month of October increased by 44,000 jobs, the unemployment rate was unchanged at 7%. ...
Revised deficit figure for 2016-17 announced
In his Fall Economic Statement, the Minister of Finance announced that the federal government will post a deficit of $25.1 billion for the 2016-17 fiscal year. The full Fall Economic Statement can be...
In his Fall Economic Statement, the Minister of Finance announced that the federal government will post a deficit of $25.1 billion for the 2016-17 fiscal year. The full Fall Economic Statement can be...
Bank of Canada leaves interest rates unchanged
In its most recent announcement, the Bank of Canada indicated that in its view, no change was required to current interest rates. Accordingly, the bank rate remains at 0.75%. In the press release ann...
In its most recent announcement, the Bank of Canada indicated that in its view, no change was required to current interest rates. Accordingly, the bank rate remains at 0.75%. In the press release ann...
Inflation rate of 1.3% recorded for September
The most recent release of Statistics Canada’s Consumer Price Index shows an inflation rate of 1.3% for the month of September, as measured on a year-over-year basis. Prices for the month were ...
The most recent release of Statistics Canada’s Consumer Price Index shows an inflation rate of 1.3% for the month of September, as measured on a year-over-year basis. Prices for the month were ...
Date announced for Fall Economic and Fiscal Update
The federal Minister of Finance has announced that the 2016 Fall Economic and Fiscal Update will be released on Tuesday November 1, 2016. The Fiscal Update papers will be posted on the Finance Canada...
The federal Minister of Finance has announced that the 2016 Fall Economic and Fiscal Update will be released on Tuesday November 1, 2016. The Fiscal Update papers will be posted on the Finance Canada...
CRA to hold consultations on political activities of charities
The Canada Revenue Agency (CRA) has announced the launch of public consultations on the rules regarding the involvement of registered charities in political activities. To that end, a consultation pan...
The Canada Revenue Agency (CRA) has announced the launch of public consultations on the rules regarding the involvement of registered charities in political activities. To that end, a consultation pan...
CRA launches consultations with small and medium sized businesses
The Canada Revenue Agency (CRA) has announced that it will be holding consultations with small and medium sized businesses, starting this fall, on the delivery of services by the CRA. Those consultati...
The Canada Revenue Agency (CRA) has announced that it will be holding consultations with small and medium sized businesses, starting this fall, on the delivery of services by the CRA. Those consultati...
Federal budgetary deficit of $1 billion for 2015-16
Final revenue and expenditure figures for the 2015-16 fiscal year have been released by the Department of Finance. Those figures show that the federal government posted a budgetary deficit of $1 billi...
Final revenue and expenditure figures for the 2015-16 fiscal year have been released by the Department of Finance. Those figures show that the federal government posted a budgetary deficit of $1 billi...
CRA launches mobile app for individual tax benefits
The Canada Revenue Agency (CRA) has launched a new mobile app — My Benefits CRA — which will enable Canadians to view personalized benefit and credit information on mobile devices. With t...
The Canada Revenue Agency (CRA) has launched a new mobile app — My Benefits CRA — which will enable Canadians to view personalized benefit and credit information on mobile devices. With t...
Finance Minister begins consultation process for 2017-18 federal Budget
The Minister of Finance has announced the start of the consultation process for the 2017-18 federal Budget. Interested stakeholders can take part in that consultation process in a number of ways, inc...
The Minister of Finance has announced the start of the consultation process for the 2017-18 federal Budget. Interested stakeholders can take part in that consultation process in a number of ways, inc...
Prescribed interest rates for 2016
The Canada Revenue Agency (CRA) has announced the interest rates that will apply to amounts owed to and by the federal government for 2016, as well as the rates that will apply for the ...
The Canada Revenue Agency (CRA) has announced the interest rates that will apply to amounts owed to and by the federal government for 2016, as well as the rates that will apply for the ...
Responding to a CRA benefits entitlement information request
The Canada Revenue Agency (CRA) has issued a reminder to Canadians that those who are receiving benefits and credits (like the Canada Child Benefit or the Harmonized Sales Tax Credit) may be asked by ...
The Canada Revenue Agency (CRA) has issued a reminder to Canadians that those who are receiving benefits and credits (like the Canada Child Benefit or the Harmonized Sales Tax Credit) may be asked by ...
Employment insurance premiums to be reduced in 2017
The federal government has announced that employment insurance premiums paid by employers and employees will be reduced for 2017. The change in premiums follows a report by the Office of the Superinte...
The federal government has announced that employment insurance premiums paid by employers and employees will be reduced for 2017. The change in premiums follows a report by the Office of the Superinte...
New school supply tax credit claimable by educators
Beginning in 2016, teachers and early childhood educators who purchase school supplies for use in their classrooms will be able to claim a 15% refundable federal tax credit on up to $1,000 worth of su...
Beginning in 2016, teachers and early childhood educators who purchase school supplies for use in their classrooms will be able to claim a 15% refundable federal tax credit on up to $1,000 worth of su...
Federal government launches financial sector consultation process
The federal Department of Finance has announced the launch of the first stage of a consultation process to be carried out with respect to the governance of the federal financial sector. Individuals o...
The federal Department of Finance has announced the launch of the first stage of a consultation process to be carried out with respect to the governance of the federal financial sector. Individuals o...
Finance posts first quarter fiscal results
The Department of Finance has issued the August release of The Fiscal Monitor, which outlines the revenue and expense figures for the federal government for the first quarter of fiscal 2016-17. Durin...
The Department of Finance has issued the August release of The Fiscal Monitor, which outlines the revenue and expense figures for the federal government for the first quarter of fiscal 2016-17. Durin...
Obtaining a proof of income statement from the Canada Revenue Agency
Canadian taxpayers who are required to provide proof of their income can obtain a proof of income statement from the Canada Revenue Agency (CRA), either online or by telephone. Taxpayers who have reg...
Canadian taxpayers who are required to provide proof of their income can obtain a proof of income statement from the Canada Revenue Agency (CRA), either online or by telephone. Taxpayers who have reg...
Applying for the Canada Child Benefit
As of July 2016, the former Universal Child Care Benefit (UCCB) and the Child Tax Benefit (CTB) were replaced by the new Canada Child Benefit (CCB), a non-taxable, means-tested benefit paid to Canadia...
As of July 2016, the former Universal Child Care Benefit (UCCB) and the Child Tax Benefit (CTB) were replaced by the new Canada Child Benefit (CCB), a non-taxable, means-tested benefit paid to Canadia...
NETFILE still available for filing of returns for 2015
The benefit year for many federal and provincial tax credit and benefit programs (including the new Canada Child Benefit and the harmonized sales tax/goods and services tax credit) runs from July 2016...
The benefit year for many federal and provincial tax credit and benefit programs (including the new Canada Child Benefit and the harmonized sales tax/goods and services tax credit) runs from July 2016...
Changeover to Canada Child Benefit effective July 20
Canadian families that have children under the age of 18 will notice a difference in their federal government child benefit starting in July. As of this month, the existing Canada Child Tax Benefit (C...
Canadian families that have children under the age of 18 will notice a difference in their federal government child benefit starting in July. As of this month, the existing Canada Child Tax Benefit (C...
CRA issues source deduction formulas to take effect July 1, 2016
A number of tax rate and credit changes, both federal and provincial, will take effect on July 1, 2016. As well, tax changes which were announced this year to take effect as from January 1, 2016 will ...
A number of tax rate and credit changes, both federal and provincial, will take effect on July 1, 2016. As well, tax changes which were announced this year to take effect as from January 1, 2016 will ...
Bank of Canada maintains interest rates at current levels
In its regularly scheduled interest rate announcement made on January 20, the Bank of Canada indicated that no change would be made to current interest rates. Consequently, the bank rate remains at 0....
In its regularly scheduled interest rate announcement made on January 20, the Bank of Canada indicated that no change would be made to current interest rates. Consequently, the bank rate remains at 0....
Federal individual tax credits for 2016
Dollar amounts on which individual non-refundable federal tax credits for 2016 are based, and the actual tax credit claimable, will be as follows. &n...
Dollar amounts on which individual non-refundable federal tax credits for 2016 are based, and the actual tax credit claimable, will be as follows. &n...
Employment insurance premium rates for 2016
Effective January 1, 2016, maximum insurable earnings for purposes of the Employment Insurance program will increase from $49,500 to $50,800. This means that an insured worker will pay EI premiums in ...
Effective January 1, 2016, maximum insurable earnings for purposes of the Employment Insurance program will increase from $49,500 to $50,800. This means that an insured worker will pay EI premiums in ...
Johanson-Witt Professional Corporation is a family owned and operated business that has been providing financial services, personal, and corporate tax preparation in Canada for over 30 years! We have a proud tradition of personalizing our service to meet the specific needs of our clients which has resulted in lasting business relationships - in some cases the clients today are the same ones as 30 years ago!
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