If your employees use their personal vehicles for work-related purposes and you reimburse them for these expenses, your company can claim a write-off on the taxes. However, there are some rules that need to be followed to qualify for a mileage tax deduction. Paying a reasonable...
The CRA has stated that, in its view, uncollected taxes are due in large part to the domestic underground economy, aggressive international tax planning, and payment non-compliance. The CRA selects files for audit based on risk assessment, which may involve factors including industry risk,...
500, plus non-deductible arrears interest, compounded daily, charged at the prescribed rate for overdue taxes, which iscurrently sitting at nine per cent. If you are more than 100 days late in filing the form for a particular tax year, you’re hit with an automatic late-filing pena...
The CRA actually defines a 'range' of taxes and not a single number as the tax due. The reason they define a range is because they have more than one method to calculate taxes that is accepted. They use a simpler method that is the same for each period in their calculator, and ...
More information on tax scams and fraud can be found atcanada.ca/taxes-fraud-prevention. To report scams To report scams, go toantifraudcentre.caor call 1-888-495-8501. If you think you may be the victim of fraud or you unknowingly provided personal or financial information, contact your...
Flair Airlines says it is current with its plan to repay more than C$67 million ($50 million) owed to the Canada Revenue Agency (CRA), an amount its CEO confirms originated from taxes and duties around aircraft imports. "We've brought in nearly 20 aircraft over the years," CEO Stephen...
California is famous for its cannabis culture driven by the state’s early adoption of medical cannabis and expertise in cultivation. But California fails to keep up with one city for the world title of cannabis culture: Amsterdam. In the Netherlands, Amsterdam’s cannabis cafes thrive as a par...
e ludes of local withholding taxes in a given year. While not a perfect measure of returns,3 the ratio of e to investment gives a useful approximation of the annual profitability of U.S. manufacturin erseas investments. Returns for the 38 countries were ranked 1 to 38 from low to high...