New Consultations: Modernizing Tax Rules for Charities
As the last remnants of a scrumptious Thanksgiving weekend subside, it is appropriate to take a look at the health and issues surrounding the charitable sector in Canada. Serendipitously, the federal government is seeking your views on how the tax rules for registered charities and the Canada Revenue Agency’s (CRA) administration of these rules could be modernized. A new consultation was launched on October 8 and here’s what the government wants to know, by December 3, 2026:Brief Clients About CRA Fraud And E-Mail Scams
It’s a warm summer day. You’re relaxing in the yard and wondering what could possibly make this day better. And then, out of the blue, you receive an e-mail from Canada Revenue Agency stating that they’ve discovered they owe you money! Could this be true? Or, do you need to wake up and smell the coffee . . . .? There are two scams in particular to brief your clients about: Refund and Collection Scams.
Adjusted Family Tax Cut: Was Spouse A Student?
Last week, CRA reminded families to apply for the generous new Universal Child Care Benefit (UCCB) being delivered to families this week. But there may also be more good news: enhanced Family Tax Cut dollars available for the 2014 tax filing year for families in which one spouse was a full- or part-time student... $2 to $750 more in fact.
Five Steps To Calculating 2015 TFSA Contribution Room
A new version of form RC343 has been released by the CRA to calculate TFSA contribution room for 2015, taking into account the new 2015 contribution limit of $10,000.
Two-Parent Families With Kids: $85,000 Is Median After Tax Income
The Canadian Income Survey for 2013 was released by Statistics Canada on July 8. While things are virtually unchanged from 2012, some interesting facts emerge about the income levels earned by Canadian families.
Selling the US Vacation Property
With real estate prices soaring in the US and the Canadian dollar falling in value against the greenback, Canadians who invested in a vacation property in the US may be tempted to sell their US cottage and purchase a Canadian cottage instead.
Advanced Payroll – A Great Course for Every Bookkeeper
The technical side of payroll, if done incorrectly, can cost the employer or the employee money, not to mention incurring penalties with the Canada Revenue Agency.
