The Canada Revenue Agency (CRA) provides several different online accounts for Canadian businesses which can make viewing your tax information and keeping your small business in the CRA’s good books easier. Here’s an overview of the accounts you’ll need to do your tax business with the CRA...
If you owe money to the Canada Revenue Agency, you might consider paying the tax bill using a credit card. Turns out you can use a credit card to pay a CRA tax bill as long as you pay through one of the approved payment processors. However, a credit card isn’t your cheapest option...
Corporations are certainly more expensive to administer because they must file annualincome tax returnswith the Canada Customs and Revenue Agency (CRA), the provincial Ministry of Finance (and possibly other provinces in which the corporation does business). But depending on the type of business you...
The TEB gross up to net interest income, other operating income, total revenue, and provision for income taxes are presented below: T1 TEB gross up For the year ended October 31 ($ millions) Net interest income Other operating income Total revenue and provision for income taxes 2013 $ 15 ...
more wealth than the average Canadian family." Macdonald observes. "Canada could remedy this situation with tax reforms aimed at reducing inequality Instituting a 45% estate tax on estates valued over $5 million, in line with the rest of the G7, would add $2 billion to federal revenue."...
The source of funds should also be very clear, so that the Canada Revenue Agency does not mistake the gift as income. Therefore, you should keep a copy of your bank statement to show where the money originated from, as well as copies of tax returns to prove that you had the finan...
This loss is deducted on line 135 of your T1 General Return. Ali N. February 28, 2017 at 2:02 am Hi Alan, I would be very grateful if you could explain how to fill schedule 4 to report losses. In my case I have expenses, assets and my annual revenue is zero. Your help is ...
Additional Collections, Uses and Disclosures Social Insurance Number (SIN) – If requesting products, accounts or services that may generate interest or other investment income, we will ask for your SIN for revenue reporting purposes. This is required by the Income Tax Act (Canada). If we ask ...
Provincial powers in section 92 include “direct taxation within the province in order to [raise] revenue for provincial purposes”, “the management and sale of public lands belonging to the province and the timber and wood thereon”, “local works and undertakings”, “property and civil ...