The CRA is Canada’s largest federal agency by headcount with vast enforcement and compliance powers under theIncome Tax ActandExcise Tax Act. The federal government has allocated billions of dollars of funding for tax compliance and enforcement each year, and the CRA alleges there is a “...
Canada: CRA changes position on grounds for taxing capital gains of non-residents.The article discusses the announcement by the Canada Revenue Agency (CRA) that it was changing its policy for determining whether shares of a corporation will be considered taxable Canadian property (TCP). According ...
The critics continue: “If you refuse to do this, then at the very least, you must direct the Canada Revenue Agency to stop collecting this tax until after an election.” Last year, the Liberals increased what is known as the capital gains inclusion rate, presenting it as a measure target...
No tax accountant needed Get your tax refund in 10 days Easy to use – help text is everywhere Filing your return takes about 30 minutes Single return is $11.99 and Family return is $17.99 Canada Revenue Agency Certified Since 2011
CanadaRevenueAgency(CRA)filingrequirementsforNon-Profit Organizations(NPO’s) T2CorporateIncomeTaxReturn “Allcorporations–includingnon-profitorganizations,…-havetofileaT2returnfor everytaxyear,evenifthereisnotaxpayable.Theonlyexceptiontothisruleisa corporationthatwasaregisteredcharitythroughouttheyear.”(Frompag...
Capital gains reporting andtracking Report, manage and optimize capital gains and losses. Claim foreignincome Report all foreign income (e.g. earned income outside of Canada) and claim the appropriate foreign tax credits on your return.
Carry forward amounts, including capital gains and losses. Benefits and credits Instalment payments and so on. You can also make payments and register disputes. Finally, you can toggle over to your My Service Canada Account to view and update your information on EI, CPP (Statement of Contributi...
It seems that when the taxpayer prepared his 2019 tax return, certain T5 slips from Royal Bank of Canada did not appear in his CRA My Account, meaning the income reflected on those T5 slips was inadvertently omitted from his 2019 return. The income on the T5s, “which was substantial,”...
CPA | Small Business Tax Pro | CRA Certified $80.00/hr Canadian CPA with 10+ years of public accounting experience providing tax services to small businesses across CANADA. I specialize in preparing small business corporate tax returns, tax plans for companies and business owners, personal tax ...
Income Tax Education Leads to Confident Filing Navigating income tax as a self-employed business owner can feel overwhelming, but the T4002 guide from the Canada Revenue Agency (CRA) provides everything you need to handle your tax return with confidence. Whether you’re reporting business income,...