Time’s Up: CRA’s 100 Day Mandate for Improvement

After years of frustration on the part of tax professionals and taxpayers alike, the Finance Minister ordered the Canada Revenue Agency to clean up its act in 100 days. Specifically, the improvement plan was to run from September 2 through December 11. Finance Minister and Minister of National Revenue, Francoise-Phillippe Champagne instructed CRA to fix “unacceptable wait times and service delays.” Time’s up this week and CRA has released an update on progress. What gets measured, gets done. Let’s see what CRA’s metrics show. 

In the House of Commons last week, Ministers Flaherty and Menzies tabled a detailed Notice of Ways and Means Motion in order to begin the implementation of tax measures initially introduced in the March 21, 2013 Federal Budget.

In a narrow vote, 54% of Knowledge Bureau Report readers do not agree with the new budget proposal that allows CRA to pay a taxable finder’s fee for information on international tax cheats.

A decision released recently from the Tax Court of Canada will be of interest to those seeking to apply for the new housing rebate for a principal residence. Wong v. The Queen, 2013 TCC 23 featured an interesting analysis of subsection 254(2)(b) of the Income Tax Act (the Act) as well as actions from the appellants that is worthy of note.

The Bank of Canada unveiled the latest and last of the new redesigned polymer bank notes this week. The $5 and $10 polymer notes will complete the series that began with the $100 note in November 2011.

Employees who leave their jobs and receive retiring allowances should include an RRSP strategy in their planning to keep more of that money.

Tax audit season begins soon! Ensure you're prepared for any appeal with our Audit Defence Bootcamp. Coming to a city near you this month!