All items tagged with: Canada Revenue Agency

Canada “Celebrates” 100 Years of Income Tax

Posted: September 19, 2017
Posted in: Strategic Thinking, Current Issue , CRA, tax court, knowledge bureau, Canada Revenue Agency, income tax act, Evelyn Jacks, income tax, tax courses, tax preparer, Canadian income tax, history of income tax, tax history, Income War Tax Act, income tax appellant process, notice of assessment, Tax Review Board, Superior Court of Record, Income Tax Appeal Board, Canada celebrations, important dates in Canada, Canadian history

National income tax is such a given in western economies that we lump it in with death as being unavoidable and portray the “Taxman” as some kind of grim reaper. But, in reality, federal income tax is a fairly recent invention — in Canada, we’ve just now reached the 100-year anniversary of the practice.

7 Factors for Classifying Your Side-Gig Income with the CRA

Posted: September 01, 2017 By: Evelyn Jacks
Posted in: Strategic Thinking , Tax Planning, CRA, Financial Advisor, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, income tax, tax advisor, tax deductions, tax preparation for proprietorships, tax education, tax preparer, entrepreneur, self-employment, side gig, taxpayer, proprietorships, sole proprietor, self-employed income, business ownership, extra income

About 32 per cent of workers are starting their own businesses on the side for a variety of reasons — including 25 per cent of those who earn more than $75,000 and 19 per cent of those with income over $100,000. For tax purposes, it’s critical to know the difference between someone who is employed and someone who is considered self-employed.

CRA: Plan for Efficiencies Include Decreasing Auditors

Posted: January 09, 2014
Posted in: Breaking News, Tax Planning , Canada Revenue Agency, tax auditors

The Canada Revenue Agency (CRA) may be stymied by the billions in unreported income flourishing in the underground economy, yet over 3000 full time staff members will soon be cut, according to information obtained by Postmedia News under access to information legislation.

Evelyn Jacks: A Slippery Slope – Should We Mess with Canadians’ High Voluntary Tax Compliance Rate?

Posted: April 15, 2013
Posted in: Breaking News, Tax Planning , Canada Revenue Agency, tax filing

In Canada, we have a tax system based on self-assessment and voluntary compliance. It works extremely well, considering how complex the topic is, with the overwhelming majority of individuals and corporations meeting their obligations on time.