Red Ink on the Prairies
A day after Quebec’s Finance Minister Eric Girard brought down a Budget featuring a $6.3 Billion deficit, Saskatchewan’s Finance Minister Jim Reiter tabled his government’s budget on March 19. Next up was Finance Minister Adrian Salas, who tabled the Manitoba Budget on March 24. The common thread: there’s lots of red ink on the Prairies. But that’s where the budget documents differ between Manitoba and Saskatchewan. Here’s the latest tax news and why it matters to the advice you give your clients.Fourth Quarter Prescribed Interest Rate Set: It’s 2%
CRA announced on September 23 that the prescribed annual interest rates will indeed go up by 1% on amounts owed to and by the CRA by individuals and corporations.
CRA Cracks Down on Electronic Sales Suppression Software
CRA is cracking down on the use of electronic suppression of sales (ESS) software.
Small Business the Key to Future Growth: Poloz
New Governor of the Bank of Canada (the Bank), Stephen S. Poloz, told a Vancouver board of Trade audience last week that the key to economic growth in Canada lies in the creation of new businesses which in turn, create new jobs, and the new income required to propel our economy forward in the near future.
Evelyn Jacks: It’s Year End Tax Planning Time
It’s my favorite time of the year: with the beauty of fall comes the opportunity to arrange your affairs within the framework of the law to pay only the correct amount of taxes in 2013—no more.
Supreme Court: The Line Between Tax Audits and Investigations
In its Backgrounder to the new Section 237.3, which defines reportable tax avoidance transactions that may be subject to the General Anti Avoidance Rules, Finance Canada has assured taxpayers that the provision, is for “administrative purposes only” and therefore it is unlikely that it will be used to incriminate a taxpayer.
Donations Sent to Terrorists: CRA Revokes Charity Registration
On September 20, the Canada Revenue Agency (CRA) announced that it would revoke the registered charitable status of the Islamic Society of North America (ISNA) Development Foundation.
