Late Filing Penalties: Talk About It!
While most T1 returns are in the hands of the Canada Revenue Agency (CRA) by April 30, we know many are not. In fact, millions of returns were still outstanding as of mid-May. Late-filing clients they need to know about the consequences, especially if they owe. Here’s a rundown to be aware of:Prepare Consistently Accurate T1 Tax Preparation Services to Your Clients
Achieve double-digit returns in your plans for Real Wealth Management™ with your clients with our T1 Professional Tax Preparation – Basic course. Learn to prepare returns using 3 popular tax software programs, too! Enrol by September 25 and save $200 on tuition rates.
Canada Pension Plan – Sooner or Later?
Gone are the days when you had to quit work to start receiving your Canada Pension Plan retirement pension. These days you can start receiving you CPP retirement pension at any age from 60 to 70. There is a catch however.
EI Rate Freeze Not a Premium Freeze
On September 9, the Honourable Jim Flaherty, Minister of Finance, announced that the Employment Insurance (EI) premium rate for employees will be frozen at the 2013 level of $1.88 per $100 of insurable earnings for the years 2014-2016.
Canada’s Financial Institutions Remain the World’s Best
On September 6, the Honourable Jim Flaherty, Minister of Finance, announced that the World Economic Forum’s Global Competitiveness Report for 2013-2014 ranked Canada’s financial system as the strongest in the world for the sixth consecutive year.
Reportable Transactions: Due Diligence Defence Possible Under Section 237.3
The CRA has new teeth: new Section 237.3, Reportable Transactions, may in fact, give the Canada Revenue Agency (“CRA”) a real advantage if transactions that seek to avoid taxation fall foul of pre-disclosure rules.
New Online Notice of Assessment Service for Small Businesses
CRA continues to help Canadians use more electronic services.
