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. 

Roller Hire v The Queen (2013). A common battle in the Tax Court of Canada is one between the designation of employee or independent contractor. The case of Roller Hire is a recent example, and Judge Hogan made some interesting comments for the Court.

Recent RRSP & TFSA savings statistics show that only 26% of eligible taxfilers contributed to an RRSP in 2010, but this dropped to 24%  in 2011.

Is it true if you have a balance owing to CRA and you do not want to pay on-line you need to call CRA for a pre-printed form?

The Atlantic Investment Tax Credit provides a 10% refundable tax credits for certain investments in new buildings, machinery and equipment used in the Atlantic region and the Gaspé Peninsula, in farming, fishing, logging, manufacturing and processing, oil & gas, and mining industries.

Canada has one of the largest networks of bilateral tax treaties in the world. In Canada, the Government signs treaties with other nations, but Parliament must enact the laws to make the rules within them enforceable.

A guest column by Dr. Michael Graham, Ph.D.  whose career has spanned 50 years, leading research and investment strategy at Wood Gundy, Dominion Securities Ames/Pitfield, Merrill Lynch Canada, Midland Walwyn, and now his own investment counselling firm Michael Graham Investment Services Inc. through which he writes about Canada’s potential as an exceptional worldwide place for investment.