Canadians are becoming more philanthropic – giving more every year to causes that are important to them. This calculator helps in determining the tax savings (and therefore the after-tax cost) of charitable donations.
CRA’s push to get Canadians to file their tax returns electronically has been extremely successful this year, driving a million more tax filers to use EFILING services with a professional and a million more to use NETFILING.
On May 1, the Canada Revenue Agency (CRA) announced that two corporations and the director of one plead guilty to tax evasion charges in the Provincial Court of Manitoba. The fines totaled a hefty $731,986.
Comedian Ray Romano once said, "Having children is a lot like living in a frat house – nobody sleeps, everything’s broken, and there’s a lot of throwing up.” But aside from being highly amusing calamities at times, families are also powerful economic unions which are subject to fairly complicated tax rules.