With the rising cost of transportation, meals, clothing, and other work-related expenses, many Canadians are questioning whether the Canada Employment Credit, set at $1,501 for 2026, still reflects the real cost of earning employment income. Tax professionals, employers, and taxpayers continue to debate whether the credit should be increased, restructured, or replaced altogether. When our poll asked if the Canada Employment Credit should be increased, 87% said yes. Below are perspectives shared by tax and financial professionals across the country.
Act now! Today is the deadline for early-bird tuition savings. You don’t want to miss this opportunity to join Canada's most prominent tax educators, best-selling authors and technical experts for a comprehensive budget, retirement & estate planning update on May 18, 2022.
On occasion, a business will be selected for a review of their books and records by the CRA. This is called a payroll examination, and the goal is to ensure compliance with respect to deductions and remittances, for your payroll account.
At year-end, the T4 summary is completed and sent to the CRA. The T4 forms are generated and sent to the employees before the end of February in the year following the payroll year. If the employer is late in completing the T slip summary and remitting to the CRA, depending upon the number of slips to be completed, an employer could see a penalty of anywhere from $10 to $7,500.
The Federal Budget of April 7, 2022 represents a much brighter economic outlook for Canada and contains a sprinkling of tax provisions that most importantly did not raise any tax rates or impose new capital gains taxes. However, there is a warning that this could be on the horizon as early as this fall.
Privacy of confidential financial data is an important issue to your clients and no wonder: Statistics Canada says that about 57% of Canadians online reported experiencing a security incident in 2018. Do you know how to avoid privacy risks that may arise in your business? A new online certificate course, Privacy Principles in Business addresses many of the security issues that concern business owners these days, and now you can earn 10 compliance credits from IIROC by completing this cutting-edge course.
We are excited to see you online on May 18, 2022 for the next Virtual CE Summit on Retirement and Estate Planning. Be sure to register by April 20 for early bird tuition fees for you and your team. The CE Summits are a blended learning event. What does this mean? It’s just an outstanding comprehensive learning opportunity for you in multiple components:
Act now! Today is the deadline for early-bird tuition savings. You don’t want to miss this opportunity to join Canada's most prominent tax educators, best-selling authors and technical experts for a comprehensive budget, retirement & estate planning update on May 18, 2022.
On occasion, a business will be selected for a review of their books and records by the CRA. This is called a payroll examination, and the goal is to ensure compliance with respect to deductions and remittances, for your payroll account.
At year-end, the T4 summary is completed and sent to the CRA. The T4 forms are generated and sent to the employees before the end of February in the year following the payroll year. If the employer is late in completing the T slip summary and remitting to the CRA, depending upon the number of slips to be completed, an employer could see a penalty of anywhere from $10 to $7,500.
The Federal Budget of April 7, 2022 represents a much brighter economic outlook for Canada and contains a sprinkling of tax provisions that most importantly did not raise any tax rates or impose new capital gains taxes. However, there is a warning that this could be on the horizon as early as this fall.
Privacy of confidential financial data is an important issue to your clients and no wonder: Statistics Canada says that about 57% of Canadians online reported experiencing a security incident in 2018. Do you know how to avoid privacy risks that may arise in your business? A new online certificate course, Privacy Principles in Business addresses many of the security issues that concern business owners these days, and now you can earn 10 compliance credits from IIROC by completing this cutting-edge course.
