All items tagged with: CRA
Posted in: Breaking News , Tax Planning, CRA
Electronic filing is all the rage in Canada, as close to 750,000 more people chose to file their returns electronically in the 2016 tax filing season, for the 2015 T1 returns. One compelling reason: the average tax refund of $1678 hits your bank account sooner when professionals use EFILE or individuals use NETFILE. Close to 10 million people had those cheques electronically deposited.
Posted in: Breaking News, Bookkeeping and Accounting, Tax Planning , Personal Tax, CRA
'Tis the season and Canada Revenue Agency will once again send out an estimated 33,000 letters to Canadian taxpayers asking them to “reconsider” their prior year’s personal tax return.
Posted in: Breaking News , CRA, T1 preparation
The new T1 return includes a space to send the taxpayer’s email address to CRA.
Posted in: Breaking News, Economic News, Strategic Thinking, Tax Planning , CRA breach, privacy, rights
Canada has a taxation system that is based on self-assessment. We are required to accurately assess income, deductions and credits, filing our tax returns on time, or face penalties, interest and/or jail in serious instances.
Posted in: Breaking News, Tax Planning , CRA, represent a client portal
On October 20, 2014 CRA launched the long anticipated electronic mail system for professional tax specialists registered under the Represent a Client portal.
Posted in: Breaking News, Tax Planning , CRA direct deposit
In a move towards eliminating paper cheques, businesses in Canada are now being asked to complete two functions through the Represent a Client portal. Businesses will now have the option of both pre-authorized debit and direct deposit for their dealings with CRA.