Bill C-31: Royal Asset and New CRA Powers Could Come Soon
Changes are coming to the Income Tax Act and both you and your clients will all be affected with new tax risks including longer tax audits. Bill C-31, which passed second reading in the House of Commons on June 3 and is now at committee stage, contains elements of previous Federal Budgets that will expand the CRA’s compliance and enforcement powers. Here’s what you need to know and pass along to your clients:Featured Course: Basic Bookkeeping for Business
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Manitoba Raises PST by 1%
In a controversial budget, Manitoba raised its Provincial Sales Taxes by 1% to 8% effective July 1, 2013 over a “temporary” 10 year period, waiving the requirement to hold a referendum, citing reasons of financial urgency due to potential flooding.
Featured Speakers: Our May DAW Audit Defence Bootcamp Distinguished Speakers
Knowledge Bureau's Evelyn Jacks and Alan Rowell, and David Caron and Sean Nazarian of Thomson Reuters will be leading you in this May's Distinguished Advisor Workshop: Audit Defence Bootcamp.
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Maritime Provinces Raise Taxes in Recent Budgets
Over the last couple of weeks, the provincial governments in the Atlantic provinces brought down their 2013 provincial budgets.
International Tax Audit Powers Aided by Court Decision
Budget 2013 included some measures that would help the Canada Revenue Agency (CRA) find and prosecute international tax non-compliance, such as the Stop International Tax Evasion Program. A recent decision from the Federal Court, Soft-Moc Inc. v MNR (2013) FC 291, sets a precedent that strengthens the CRA’s ability to access information outside of the country.
