Tax Alerts
AB - Province issues updated IFTA registration form
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued a required form under the International Fuel Tax Agreement (IFTA). The new form, which is required in order to register for ...
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued a required form under the International Fuel Tax Agreement (IFTA). The new form, which is required in order to register for ...
AB - First quarter financial results show reduced deficit
The provincial government recently announced the province’s fiscal results for the first quarter (April 1 to June 30) of the 2018-19 fiscal year. Those results show that the 2019 economic forec...
The provincial government recently announced the province’s fiscal results for the first quarter (April 1 to June 30) of the 2018-19 fiscal year. Those results show that the 2019 economic forec...
AB - Minimum wage to increase effective October 1, 2018
As previously announced, the general minimum wage payable in Alberta will increase, effective October 1, 2018, to $15 per hour. The general hourly minimum wage applies to most employees in the provinc...
As previously announced, the general minimum wage payable in Alberta will increase, effective October 1, 2018, to $15 per hour. The general hourly minimum wage applies to most employees in the provinc...
AB - Capital Investment Tax Credit 4th intake period announced
The province provides a Capital Investment Tax Credit (CITC) to qualifying Alberta companies which make capital investments in qualifying assets, including machinery, equipment, and buildings. The no...
The province provides a Capital Investment Tax Credit (CITC) to qualifying Alberta companies which make capital investments in qualifying assets, including machinery, equipment, and buildings. The no...
AB - Consultation process on new condominium regulations ends July 31
Following an earlier consultation process, the provincial government has drafted new regulations that govern certain rights of condominium owners. Those draft regulations cover such matters as improve...
Following an earlier consultation process, the provincial government has drafted new regulations that govern certain rights of condominium owners. Those draft regulations cover such matters as improve...
AB - Interest Rates - 2018
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - Province issues updated Circular on Voluntary Disclosure Program
The Alberta Tax and Revenue Administration (TRA) administers a Voluntary Disclosure Program (VDP) under which the Minister can provide corporate taxpayers with relief from provincial interest and pena...
The Alberta Tax and Revenue Administration (TRA) administers a Voluntary Disclosure Program (VDP) under which the Minister can provide corporate taxpayers with relief from provincial interest and pena...
AB - Province extends investor tax credits to 2021-22
The province of Alberta provides two tax credits intended to encourage investment by individuals and corporations in the manufacturing and processing, tourism, and new technology sectors. The Alberta...
The province of Alberta provides two tax credits intended to encourage investment by individuals and corporations in the manufacturing and processing, tourism, and new technology sectors. The Alberta...
AB - TRA issues new notices on tax-free fuel exports
Under Alberta’s fuel and carbon tax regimes, no fuel tax or carbon tax is generally payable where fuel sales are for export from the province in bulk. The Alberta Tax and Revenue Administration...
Under Alberta’s fuel and carbon tax regimes, no fuel tax or carbon tax is generally payable where fuel sales are for export from the province in bulk. The Alberta Tax and Revenue Administration...
AB - Energy Efficiency Alberta warns of phishing scam
Energy Efficiency Alberta administers a number of programs which enable consumers who purchase energy efficient equipment and appliances to qualify for rebates. The Agency has recently posted a warni...
Energy Efficiency Alberta administers a number of programs which enable consumers who purchase energy efficient equipment and appliances to qualify for rebates. The Agency has recently posted a warni...
AB - Province announces creation of Interactive Digital Media Tax Credit
Earlier this year the provincial government announced the creation of a new Interactive Digital Media (IDM) Tax Credit. The credit is available in respect of eligible labour costs paid after April 1, ...
Earlier this year the provincial government announced the creation of a new Interactive Digital Media (IDM) Tax Credit. The credit is available in respect of eligible labour costs paid after April 1, ...
AB - Full licensing requirement for residential builders effective May 1
Last year, the Alberta government announced that residential builders in the province would be required to be licenced, effective as of December 1, 2017. Temporary licences which were obtained on tha...
Last year, the Alberta government announced that residential builders in the province would be required to be licenced, effective as of December 1, 2017. Temporary licences which were obtained on tha...
AB - Updated Tobacco Tax Information Circular issued by TRA
The Alberta Tax and Revenue Administration has updated and re-issued its Tobacco Tax Information Circular (TTA-4R6) which summarizes the licensing, reporting, and remitting requirements imposed by the...
The Alberta Tax and Revenue Administration has updated and re-issued its Tobacco Tax Information Circular (TTA-4R6) which summarizes the licensing, reporting, and remitting requirements imposed by the...
AB - TRA expands FAQ document on Carbon Levy
The Alberta Tax and Revenue Administration (TRA) has added additional topics to its FAQ document providing information with respect to a variety of issues which can arise under the province’s ca...
The Alberta Tax and Revenue Administration (TRA) has added additional topics to its FAQ document providing information with respect to a variety of issues which can arise under the province’s ca...
AB - Province issues updated corporate income tax forms
The Alberta Tax and Revenue Administration has issued updated forms for use by companies in filing their provincial corporate income tax returns. The following new forms have been posted on the TRA w...
The Alberta Tax and Revenue Administration has issued updated forms for use by companies in filing their provincial corporate income tax returns. The following new forms have been posted on the TRA w...
AB - Interest Rates - 2018
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - No tax increases in 2018-19 provincial Budget
The Alberta Minister of Finance brought down the province’s 2018-19 Budget on March 22, 2018. There were no changes to personal or corporate tax rates announced in the Budget, and no changes to ...
The Alberta Minister of Finance brought down the province’s 2018-19 Budget on March 22, 2018. There were no changes to personal or corporate tax rates announced in the Budget, and no changes to ...
AB - Province announces upgrades to online tax services
The Alberta Tax and Revenue Administration (TRA) provides online tax services to individuals and businesses through its TRACS program. TRA has announced that new online services for a number of diffe...
The Alberta Tax and Revenue Administration (TRA) provides online tax services to individuals and businesses through its TRACS program. TRA has announced that new online services for a number of diffe...
AB - TEFU registration numbers extended to 2020
The Alberta Tax and Revenue Administration (TRA) has issued a Special Notice (Vol. 1, No. 40) with respect to the expiry date of current Tax Exempt Fuel User Numbers. Current numbers are scheduled to...
The Alberta Tax and Revenue Administration (TRA) has issued a Special Notice (Vol. 1, No. 40) with respect to the expiry date of current Tax Exempt Fuel User Numbers. Current numbers are scheduled to...
AB - Third Quarter Fiscal Update includes reduced deficit projection
The 2017-18 Third Quarter Fiscal Update announced by the provincial government at the end of February indicates that the province’s projected deficit for the 2017-18 fiscal year is down signific...
The 2017-18 Third Quarter Fiscal Update announced by the provincial government at the end of February indicates that the province’s projected deficit for the 2017-18 fiscal year is down signific...
AB - Province expands energy efficiency rebate program
The province of Alberta currently provides a rebate program for businesses which make investments in energy efficiency. The provincial government recently announced that that energy efficiency rebate ...
The province of Alberta currently provides a rebate program for businesses which make investments in energy efficiency. The provincial government recently announced that that energy efficiency rebate ...
AB - Personal tax credit amounts for 2018
For the 2018 tax year, individuals resident in the province of Alberta will be able to claim the following non-refundable personal tax credit amounts: Basic personal amount ………&h...
For the 2018 tax year, individuals resident in the province of Alberta will be able to claim the following non-refundable personal tax credit amounts: Basic personal amount ………&h...
AB - Personal income tax rates and brackets for 2018
For the 2018 tax year, the province of Alberta will levy personal income tax at the following individual income tax rates and brackets: 10% on taxable income between $18,915 and $128,145; 12% on t...
For the 2018 tax year, the province of Alberta will levy personal income tax at the following individual income tax rates and brackets: 10% on taxable income between $18,915 and $128,145; 12% on t...
AB - Province launches 2018-19 Budget consultation process
The provincial government has announced the start of the consultation process leading to the release of the 2018-19 Budget. That process has several components, including an online survey, which will ...
The provincial government has announced the start of the consultation process leading to the release of the 2018-19 Budget. That process has several components, including an online survey, which will ...
AB - Warning issued on fraudulent tax refund texts
The Alberta Tax and Revenue Administration (TRA) has issued a warning to Alberta taxpayers of a tax scam which is currently operating in the province. That tax scam involves fraudulent text messages ...
The Alberta Tax and Revenue Administration (TRA) has issued a warning to Alberta taxpayers of a tax scam which is currently operating in the province. That tax scam involves fraudulent text messages ...
AB - Interest Rates - 2018
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - CRA releases 2017 T1 tax return form for Alberta residents
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Alberta at the end of that year. The T1 form package (w...
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Alberta at the end of that year. The T1 form package (w...
AB - Changes to carbon levy take effect January 1
Effective as of January 1 2018, changes have been made to Alberta’s carbon levy program. Those changes include an increase in the carbon levy, from $20 per tonne to $30 per tonne. That change w...
Effective as of January 1 2018, changes have been made to Alberta’s carbon levy program. Those changes include an increase in the carbon levy, from $20 per tonne to $30 per tonne. That change w...
AB - 2018 payroll deduction tables for provincial income tax released
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which Alberta employers will use to determine employee source deductions for federal and provincial income tax, Canada Pension P...
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which Alberta employers will use to determine employee source deductions for federal and provincial income tax, Canada Pension P...
AB - Licensing of residential home builders now required
As of December 1, 2017, residential builders in Alberta require a license to build homes and secure warranty coverage. In order to be licensed, builders must provide information about their finances, ...
As of December 1, 2017, residential builders in Alberta require a license to build homes and secure warranty coverage. In order to be licensed, builders must provide information about their finances, ...
AB - Mandatory electronic filing of provincial corporate tax returns
The Alberta Tax and Revenue Administration has issued a Special Notice advising corporations of upcoming changes to filing requirements for income tax returns. The new requirements are effective for ...
The Alberta Tax and Revenue Administration has issued a Special Notice advising corporations of upcoming changes to filing requirements for income tax returns. The new requirements are effective for ...
AB - 2018 Alberta TD1 and TD1 Worksheet released
The Canada Revenue Agency has issued the Alberta TD1 Form and Worksheet which will be used by taxpayers resident in the province, and their employers, to determine required provincial income tax sourc...
The Canada Revenue Agency has issued the Alberta TD1 Form and Worksheet which will be used by taxpayers resident in the province, and their employers, to determine required provincial income tax sourc...
AB - Province announces TRA office holiday closure dates
Alberta’s Tax and Revenue Administration has announced that its offices will be closed from Monday December 25, 2017 to Monday January 1, 2018, inclusive. Offices will reopen at 8:15 a.m. on Tue...
Alberta’s Tax and Revenue Administration has announced that its offices will be closed from Monday December 25, 2017 to Monday January 1, 2018, inclusive. Offices will reopen at 8:15 a.m. on Tue...
AB - Changes to Carbon Levy Rates for 2018
The Alberta Tax and Revenue Administration (TRA) has announced the Carbon Levy Rates which will apply as of January 1, 2018. A listing of those rates can be found at www.finance.alberta.ca/publication...
The Alberta Tax and Revenue Administration (TRA) has announced the Carbon Levy Rates which will apply as of January 1, 2018. A listing of those rates can be found at www.finance.alberta.ca/publication...
AB - Updated bulletin issued on corporate income tax interest and penalties
Alberta corporations which fail to file corporate income tax returns by the required deadline, or which fail to remit corporate income tax amounts owed on time or in full may be subject to penalties a...
Alberta corporations which fail to file corporate income tax returns by the required deadline, or which fail to remit corporate income tax amounts owed on time or in full may be subject to penalties a...
CRA issues updated guide to federal and provincial child benefits
The federal government has updated and re-issued its guide to child benefits paid by the federal and several provincial governments. The updated guide (T4114), which is available on the Canada Revenu...
The federal government has updated and re-issued its guide to child benefits paid by the federal and several provincial governments. The updated guide (T4114), which is available on the Canada Revenu...
Slight increase in unemployment rate for August
The most recent release of Statistics Canada’s Labour Force Survey shows a small increase in the unemployment rate posted for the month of August. That rate rose by 0.2%, from 5.8% to 6%. Most ...
The most recent release of Statistics Canada’s Labour Force Survey shows a small increase in the unemployment rate posted for the month of August. That rate rose by 0.2%, from 5.8% to 6%. Most ...
Relief available to taxpayers affected by wildfires
The Canada Revenue Agency (CRA) can provide interest and penalty relief to taxpayers who are unable to meet their tax filing or payment obligations due to circumstances beyond their control, including...
The Canada Revenue Agency (CRA) can provide interest and penalty relief to taxpayers who are unable to meet their tax filing or payment obligations due to circumstances beyond their control, including...
Bank of Canada leaves interest rates unchanged
In its scheduled interest rate announcement made on September 5, the Bank indicated that no change would be made to current interest rates. Accordingly, the Bank Rate remains at 1.75%. The Bank ackno...
In its scheduled interest rate announcement made on September 5, the Bank indicated that no change would be made to current interest rates. Accordingly, the Bank Rate remains at 1.75%. The Bank ackno...
CRA issues Tax Tip on benefit review process
Each year the Canada Revenue Agency (CRA) sends a letter and questionnaire to approximately 350,000 taxpayers, seeking to determine whether such taxpayers are receiving the correct tax credits and ben...
Each year the Canada Revenue Agency (CRA) sends a letter and questionnaire to approximately 350,000 taxpayers, seeking to determine whether such taxpayers are receiving the correct tax credits and ben...
Upcoming tax instalment due date for individuals
The due date for the third instalment payment of 2018 income taxes by individuals falls on September 15, 2018. As that date is a Saturday, instalment payments will be considered to be made on time if ...
The due date for the third instalment payment of 2018 income taxes by individuals falls on September 15, 2018. As that date is a Saturday, instalment payments will be considered to be made on time if ...
Amendments to be made to rules on political activities of charities
The federal government has announced that changes will be made to the administrative rules governing the extent to which charities can engage in non-partisan political activities. The intended amendm...
The federal government has announced that changes will be made to the administrative rules governing the extent to which charities can engage in non-partisan political activities. The intended amendm...
Rate of inflation at 3% for July
The most recent release of Statistics Canada’s Consumer Price Survey shows a significant increase in inflation for the month of July. That rate, as measured on a year-over-year basis, stood at 3...
The most recent release of Statistics Canada’s Consumer Price Survey shows a significant increase in inflation for the month of July. That rate, as measured on a year-over-year basis, stood at 3...
Unemployment rate down slightly for July
The most recent release of Statistics Canada’s Labour Force Survey indicates that the overall rate of unemployment was down slightly for the month of July. That rate stood at 5.8%, down by 0.2% ...
The most recent release of Statistics Canada’s Labour Force Survey indicates that the overall rate of unemployment was down slightly for the month of July. That rate stood at 5.8%, down by 0.2% ...
Finance announces lower payment card fees for small businesses
The Minister of Finance has announced that two major payment card networks have agreed to lower costs charged to small and medium-sized businesses. Both VISA and Mastercard have agreed to reduce dome...
The Minister of Finance has announced that two major payment card networks have agreed to lower costs charged to small and medium-sized businesses. Both VISA and Mastercard have agreed to reduce dome...
CRA podcasts and webinars for small businesses
The Canada Revenue Agency (CRA) prepares and posts on its website a number of podcasts and webinars covering tax and tax-related issues of particular interest to small businesses. There are currently...
The Canada Revenue Agency (CRA) prepares and posts on its website a number of podcasts and webinars covering tax and tax-related issues of particular interest to small businesses. There are currently...
Bank of Canada 2019 interest rate announcement dates
The Bank of Canada has issued a listing of the dates on which it will make announcements during the 2019 calendar year with respect to current interest rates. There are eight such interest rate annou...
The Bank of Canada has issued a listing of the dates on which it will make announcements during the 2019 calendar year with respect to current interest rates. There are eight such interest rate annou...
Upcoming changes to mortgage lending assessments for self-employed taxpayers
The Canada Mortgage and Housing Corporation (CMHC) has announced that, effective as of October 1, 2018, changes will be made to the process by which self-employed taxpayers are assessed for mortgage f...
The Canada Mortgage and Housing Corporation (CMHC) has announced that, effective as of October 1, 2018, changes will be made to the process by which self-employed taxpayers are assessed for mortgage f...
CRA issues new direct deposit form for businesses
The Canada Revenue Agency (CRA) has updated and re-issued its Form RC366, which allows businesses to have amounts owed to them deposited directly to a bank account. The updated form can be used to ei...
The Canada Revenue Agency (CRA) has updated and re-issued its Form RC366, which allows businesses to have amounts owed to them deposited directly to a bank account. The updated form can be used to ei...
CRA issues updated guide to RESPs
The Canada Revenue Agency (CRA) has updated and re-issued its publication RC4092(E) on Registered Education Savings Plans. The updated publication incorporates changes, originally announced as part o...
The Canada Revenue Agency (CRA) has updated and re-issued its publication RC4092(E) on Registered Education Savings Plans. The updated publication incorporates changes, originally announced as part o...
Inflation rate up by 2.5% in June
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of June, as measured on a year-over-year basis, stood at 2.5%. That cha...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of June, as measured on a year-over-year basis, stood at 2.5%. That cha...
Prescribed interest rates for leasing rules
The Canada Revenue Agency (CRA) has announced the prescribed interest rates for leasing rules which will apply during the months of July and August 2018. Those prescribed rates will be 3.28% for July...
The Canada Revenue Agency (CRA) has announced the prescribed interest rates for leasing rules which will apply during the months of July and August 2018. Those prescribed rates will be 3.28% for July...
CRA issues updated guide to taxation of RRIF on death
The Canada Revenue Agency has updated and re-issued its publication outlining the tax treatment of funds held in a RRIF on the death of the RRIF annuitant. The updated publication (RC4178(E)) also re...
The Canada Revenue Agency has updated and re-issued its publication outlining the tax treatment of funds held in a RRIF on the death of the RRIF annuitant. The updated publication (RC4178(E)) also re...
Slight increase in unemployment rate for June
While employment rose by 32,000 during the month of June, the unemployment rate was also up, by 0.2%, a result attributed by Statistics Canada an increase in the number of individuals seeking to enter...
While employment rose by 32,000 during the month of June, the unemployment rate was also up, by 0.2%, a result attributed by Statistics Canada an increase in the number of individuals seeking to enter...
Bank of Canada increases benchmark interest rate
In its regularly scheduled interest rate announcement made on July 11, the Bank of Canada indicated that it was increasing its benchmark interest rate by one-quarter of a percentage point. Accordingly...
In its regularly scheduled interest rate announcement made on July 11, the Bank of Canada indicated that it was increasing its benchmark interest rate by one-quarter of a percentage point. Accordingly...
CRA issues Tax Tip on return review process
Each year, the Canada Revenue Agency reviews approximately 3 million returns which have already been filed and assessed. Generally, such reviews are carried out to confirm income amounts reported, and...
Each year, the Canada Revenue Agency reviews approximately 3 million returns which have already been filed and assessed. Generally, such reviews are carried out to confirm income amounts reported, and...
Old Age Security benefits to increase by 1.2% in third quarter
Old Age Security (“OAS”) benefits received by Canadians are indexed to changes in the overall Consumer Price Index, and are adjusted each quarter to reflect increases in that Index.The fed...
Old Age Security (“OAS”) benefits received by Canadians are indexed to changes in the overall Consumer Price Index, and are adjusted each quarter to reflect increases in that Index.The fed...
No change to inflation rate for May
The most recent release of Statistics Canada’s Consumer Price Index indicates the rate of inflation for the month of May stood at 2.2%. The same rate was recorded for the month of April, and bot...
The most recent release of Statistics Canada’s Consumer Price Index indicates the rate of inflation for the month of May stood at 2.2%. The same rate was recorded for the month of April, and bot...
CRA issues updated source deductions online calculator
The Canada Revenue Agency (CRA) has re-issued the payroll deductions online calculator to be used by employers in calculating employee source deductions as of July 1, 2018. The updated version of tha...
The Canada Revenue Agency (CRA) has re-issued the payroll deductions online calculator to be used by employers in calculating employee source deductions as of July 1, 2018. The updated version of tha...
Prescribed interest rate for leasing for July
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of July. The prescribed rate for that month will be 3.28%. A cha...
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of July. The prescribed rate for that month will be 3.28%. A cha...
Prescribed interest rates for the third quarter of 2018
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the third quarter of 2018, as well as the rates that will apply for the purpo...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the third quarter of 2018, as well as the rates that will apply for the purpo...
CRA updates and re-issues Notice of Objection form
The Canada Revenue Agency has updated and re-issued its standard form for filing an objection to a Notice of Assessment or Reassessment. The 2018 T-400A E, Notice of Objection, can be found on the CRA...
The Canada Revenue Agency has updated and re-issued its standard form for filing an objection to a Notice of Assessment or Reassessment. The 2018 T-400A E, Notice of Objection, can be found on the CRA...
No change in unemployment rate for May
The most recent release of Statistics Canada’s Labour Force Survey shows little change in unemployment during the month of May. For the fourth consecutive month, that rate stood at 5.8%. There ...
The most recent release of Statistics Canada’s Labour Force Survey shows little change in unemployment during the month of May. For the fourth consecutive month, that rate stood at 5.8%. There ...
June 15 filing deadline for self-employed taxpayers
The filing deadline for individual income tax returns for the 2017 year for self-employed individuals and their spouses is midnight Friday June 15, 2018. Returns can be filed using the Canada Revenue...
The filing deadline for individual income tax returns for the 2017 year for self-employed individuals and their spouses is midnight Friday June 15, 2018. Returns can be filed using the Canada Revenue...
Individual income tax instalment payment due June 15
For Canadians who make quarterly instalment payments of personal income tax, the next due date for such payment is Friday June 15, 2018. The Canada Revenue Agency has posted a notice on its website i...
For Canadians who make quarterly instalment payments of personal income tax, the next due date for such payment is Friday June 15, 2018. The Canada Revenue Agency has posted a notice on its website i...
Taxpayer relief available for Canadians affected by spring floods
The Canada Revenue Agency (CRA) has issued a reminder to taxpayers who have been affected by this spring’s floods of the availability of administrative tax relief. Under the federal government&...
The Canada Revenue Agency (CRA) has issued a reminder to taxpayers who have been affected by this spring’s floods of the availability of administrative tax relief. Under the federal government&...
Bank of Canada maintains interest rates at current level
In its regularly scheduled interest rate announcement made on May 30, the Bank of Canada indicated that, in its view, no change was needed to current interest rates. Accordingly, the Bank Rate remains...
In its regularly scheduled interest rate announcement made on May 30, the Bank of Canada indicated that, in its view, no change was needed to current interest rates. Accordingly, the Bank Rate remains...
CRA issues updated payroll deduction formulas for July 1, 2018
The Canada Revenue Agency (CRA) has issued updated payroll deduction formulas for use by employers for payroll periods beginning after July 1, 2018. The updated formulas reflect changes in provincial ...
The Canada Revenue Agency (CRA) has issued updated payroll deduction formulas for use by employers for payroll periods beginning after July 1, 2018. The updated formulas reflect changes in provincial ...
Inflation rate for April at 2.2%
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of April stood at 2.2%, as measured on a year-over-year basis. The rate...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of April stood at 2.2%, as measured on a year-over-year basis. The rate...
Changes to distribution of GST/HST reporting/remittance forms for small businesses
The Canada Revenue Agency (CRA) will be making changes to its distribution method for GST/HST reporting and remittance forms for small businesses, with those changes generally directed toward reducing...
The Canada Revenue Agency (CRA) will be making changes to its distribution method for GST/HST reporting and remittance forms for small businesses, with those changes generally directed toward reducing...
Unemployment rate unchanged in April
The most recent release of Statistics Canada’s Labour Force Survey indicates that there was no change during the month of April to either employment figures or the overall unemployment rate. Th...
The most recent release of Statistics Canada’s Labour Force Survey indicates that there was no change during the month of April to either employment figures or the overall unemployment rate. Th...
CRA tax topic podcasts available for download
The Canada Revenue Agency prepares and posts podcasts on a number of different tax topics, both individual and corporate. Those podcasts are available for download from the CRA website. The current s...
The Canada Revenue Agency prepares and posts podcasts on a number of different tax topics, both individual and corporate. Those podcasts are available for download from the CRA website. The current s...
Prescribed interest rates for May and June
The Canada Revenue Agency has announced the prescribed interest rates for leasing rules which will be in effect during the months of May and June 2018. Those prescribed rates will be 3.22% during the...
The Canada Revenue Agency has announced the prescribed interest rates for leasing rules which will be in effect during the months of May and June 2018. Those prescribed rates will be 3.22% during the...
Getting information about your tax refund
Taxpayers who have filed their return for the 2017 tax year and are expecting to receive a refund can track the status of that refund payment through a toll-free telephone line. That line, the CRA&rsq...
Taxpayers who have filed their return for the 2017 tax year and are expecting to receive a refund can track the status of that refund payment through a toll-free telephone line. That line, the CRA&rsq...
CRA issues warning on filing season tax scams
The Canada Revenue Agency (CRA) has issued a warning to taxpayers of the need to be particularly vigilant with respect to fraudulent text, telephone, and e-mail communications, which increase during t...
The Canada Revenue Agency (CRA) has issued a warning to taxpayers of the need to be particularly vigilant with respect to fraudulent text, telephone, and e-mail communications, which increase during t...
Inflation rate for March reaches 2.3%
The most recent release of Statistics Canada’s Consumer Price Index indicates that the rate of inflation stood at 2.3% during the month of March 2018, as measured on a year-over-year basis. The ...
The most recent release of Statistics Canada’s Consumer Price Index indicates that the rate of inflation stood at 2.3% during the month of March 2018, as measured on a year-over-year basis. The ...
April 30 due date for all 2017 individual taxes owed
The Canada Revenue Agency (CRA) has issued a reminder that all individual income tax balances owed for the 2017 tax year must be paid on or before Monday April 30, 2018. April 30 is also the deadline...
The Canada Revenue Agency (CRA) has issued a reminder that all individual income tax balances owed for the 2017 tax year must be paid on or before Monday April 30, 2018. April 30 is also the deadline...
Unemployment rate unchanged in March
The most recent release of Statistics Canada’s Labour Force Survey shows that the rate of unemployment for the month of March 2018 stood at 5.8%. The same rate was recorded for February 2018. E...
The most recent release of Statistics Canada’s Labour Force Survey shows that the rate of unemployment for the month of March 2018 stood at 5.8%. The same rate was recorded for February 2018. E...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on April 18, the Bank of Canada indicated that no change was required to current interest rates. Accordingly, the Bank Rate will remain at 1....
In its regularly scheduled interest rate announcement made on April 18, the Bank of Canada indicated that no change was required to current interest rates. Accordingly, the Bank Rate will remain at 1....
ReFILE service for changing individual income tax returns
It is not uncommon for taxpayers to discover an error or omission in an already-filed return, and the usual means by which such error can be corrected is the filing of a T1-Adjustment form. While a co...
It is not uncommon for taxpayers to discover an error or omission in an already-filed return, and the usual means by which such error can be corrected is the filing of a T1-Adjustment form. While a co...
CRA issues reminder of taxability of income from “sharing economy”
The Canada Revenue Agency (CRA) has issued a reminder to taxpayers who receive income from the “sharing economy” that such income is taxable and must be reported on the annual tax return. ...
The Canada Revenue Agency (CRA) has issued a reminder to taxpayers who receive income from the “sharing economy” that such income is taxable and must be reported on the annual tax return. ...
Bank of Canada interest rate announcement dates for 2018
The Bank of Canada’s regularly scheduled interest rate announcement dates for the remainder of calendar year 2018 are as follows: April 18, 2018; May 30, 2018; July 11, 2018; S...
The Bank of Canada’s regularly scheduled interest rate announcement dates for the remainder of calendar year 2018 are as follows: April 18, 2018; May 30, 2018; July 11, 2018; S...
CRA issues update on home sale reporting requirements
Proceeds received from the sale of one’s principal residence are, in most circumstances, not taxable, as such sales are eligible for the principal residence exemption. However, as of the 2016 ta...
Proceeds received from the sale of one’s principal residence are, in most circumstances, not taxable, as such sales are eligible for the principal residence exemption. However, as of the 2016 ta...
Significant increase in inflation rate for February
The most recent release of Statistics Canada’s Consumer Price Index shows a sharp increase in inflation for the month of February. That rate stood at 2.2%, while the rate for January 2018 was 1....
The most recent release of Statistics Canada’s Consumer Price Index shows a sharp increase in inflation for the month of February. That rate stood at 2.2%, while the rate for January 2018 was 1....
Prescribed interest rates for second quarter of 2018
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the second quarter of 2018, as well as the rates that will apply for the purpose...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the second quarter of 2018, as well as the rates that will apply for the purpose...
CRA issues warning on tax scams
While taxpayers fall victim to tax scams year-round, such scams are more prevalent during and just following tax filing season. During that time, taxpayers expect to hear from the tax authoritie...
While taxpayers fall victim to tax scams year-round, such scams are more prevalent during and just following tax filing season. During that time, taxpayers expect to hear from the tax authoritie...
CRA publication on changes to Voluntary Disclosure Program available online
In December 2017, the Canada Revenue Agency (CRA) announced that substantive changes would be made to the Agency’s Voluntary Disclosure Program (VDP). That program enables taxpayers who are in d...
In December 2017, the Canada Revenue Agency (CRA) announced that substantive changes would be made to the Agency’s Voluntary Disclosure Program (VDP). That program enables taxpayers who are in d...
CRA issues e-filers manual for 2017 returns
The Canada Revenue Agency has issued its Guide RC4018, Electronic Filers Manual for 2017 Income Tax and Benefit Returns. That guide is for use by certified e-filers in filing individual income tax ret...
The Canada Revenue Agency has issued its Guide RC4018, Electronic Filers Manual for 2017 Income Tax and Benefit Returns. That guide is for use by certified e-filers in filing individual income tax ret...
Unemployment rate down slightly in February
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline in the overall unemployment rate for the month of February 2018. That rate declined from 5.9% in the mont...
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline in the overall unemployment rate for the month of February 2018. That rate declined from 5.9% in the mont...
Increase in Consumer Price Index for January
The most recent release of Statistics Canada’s Consumer Price Index indicates that the rate of inflation for the month of January 2018 stood at 1.7%. The rate for the previous month was 1.9%. I...
The most recent release of Statistics Canada’s Consumer Price Index indicates that the rate of inflation for the month of January 2018 stood at 1.7%. The rate for the previous month was 1.9%. I...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on March 7, the Bank of Canada indicated that no change would be made to current interest rates. Accordingly, the bank rate remains at 1.5%. ...
In its regularly scheduled interest rate announcement made on March 7, the Bank of Canada indicated that no change would be made to current interest rates. Accordingly, the bank rate remains at 1.5%. ...
Budget 2018 - Personal tax credits
Budget 2018: No personal tax credits have been repealed, and there are no new personal tax rate changes....
Budget 2018: No personal tax credits have been repealed, and there are no new personal tax rate changes....
Budget 2018 - Foreign-born Status Indians
Budget 2018: Foreign-born Status Indians may now be eligible for child benefits, retroactive to 2005....
Budget 2018: Foreign-born Status Indians may now be eligible for child benefits, retroactive to 2005....
Budget 2018 - Service animals
Budget 2018: Eligibility of specially trained service animals will be expanded for the purposes of the medical expense tax credit....
Budget 2018: Eligibility of specially trained service animals will be expanded for the purposes of the medical expense tax credit....
Budget 2018 - Canada Workers Benefit
Budget 2018: Taxpayers will no longer need to apply when filing their return in order to receive the Canada Workers Benefit....
Budget 2018: Taxpayers will no longer need to apply when filing their return in order to receive the Canada Workers Benefit....
Budget 2018 - Working Income Tax Benefit amounts
Budget 2018: The Working Income Tax Benefit amounts are enhanced as of 2019, and the credit is renamed the Canada Workers Benefit...
Budget 2018: The Working Income Tax Benefit amounts are enhanced as of 2019, and the credit is renamed the Canada Workers Benefit...
Budget 2018 - Non-resident surplus stripping rules
Budget 2018: The non-resident surplus stripping rules are tightened to address the use of partnerships and trusts....
Budget 2018: The non-resident surplus stripping rules are tightened to address the use of partnerships and trusts....
Budget 2018 - CRA compliance orders
Budget 2018: Where a CRA compliance order or information requirement is contested, a new rule will “stop the clock” to prevent the tax year from being statute barred....
Budget 2018: Where a CRA compliance order or information requirement is contested, a new rule will “stop the clock” to prevent the tax year from being statute barred....
Budget 2018 - RDTOH
Budget 2018: A corporation will have two RDTOH accounts going forward: eligible and non-eligible RDTOH....
Budget 2018: A corporation will have two RDTOH accounts going forward: eligible and non-eligible RDTOH....
Budget 2018 - Investment income
Budget 2018: A corporation with $100,000 of investment income will have its small business limit reduced to $250,000....
Budget 2018: A corporation with $100,000 of investment income will have its small business limit reduced to $250,000....
Budget 2018 - Corporations' small business limit
Budget 2018: A corporation’s small business limit will be reduced where the corporation earns investment income exceeding $50,000....
Budget 2018: A corporation’s small business limit will be reduced where the corporation earns investment income exceeding $50,000....
Extended hours for CRA telephone help line
The Canada Revenue Agency (CRA) provides a 1-800 telephone service to provide tax information to Canadian taxpayers. Such information can be general in nature, or can involve the specific tax affairs ...
The Canada Revenue Agency (CRA) provides a 1-800 telephone service to provide tax information to Canadian taxpayers. Such information can be general in nature, or can involve the specific tax affairs ...
CRA issues list of approved software for NETFILING of 2017 returns
The Canada Revenue Agency’s NETFILE service for filing of individual income tax returns will be available starting Monday February 26, 2018. Taxpayers do not need to obtain an access code to fi...
The Canada Revenue Agency’s NETFILE service for filing of individual income tax returns will be available starting Monday February 26, 2018. Taxpayers do not need to obtain an access code to fi...
Unemployment rate up slightly in January
The most recent release of Statistics Canada’s Labor Force Survey shows a slight increase in the overall unemployment rate for the month of January. That rate rose by 0.1%, from 5.8% to 5.9%. T...
The most recent release of Statistics Canada’s Labor Force Survey shows a slight increase in the overall unemployment rate for the month of January. That rate rose by 0.1%, from 5.8% to 5.9%. T...
2018-19 Federal Budget date announced
The Federal Minister of Finance has announced that the 2018-19 federal Budget will be brought down on Tuesday, February 27, 2018. The Budget will be released at around 4 p.m. and the full Budget Pape...
The Federal Minister of Finance has announced that the 2018-19 federal Budget will be brought down on Tuesday, February 27, 2018. The Budget will be released at around 4 p.m. and the full Budget Pape...
Obtaining hard copy of a 2017 income tax return package
This year, the Canada Revenue Agency (CRA) will be providing taxpayers with hard copies of the 2017 Income Tax and Benefit package through a variety of means, and at various dates. Individuals who pa...
This year, the Canada Revenue Agency (CRA) will be providing taxpayers with hard copies of the 2017 Income Tax and Benefit package through a variety of means, and at various dates. Individuals who pa...
CRA announces NETFILE service availability dates for 2017 returns
The Canada Revenue Agency (CRA) has announced the date on which NETFILE service for the filing of individual income tax returns for the 2017 tax year will be available. NETFILE service will be availa...
The Canada Revenue Agency (CRA) has announced the date on which NETFILE service for the filing of individual income tax returns for the 2017 tax year will be available. NETFILE service will be availa...
CRA to mail tax return packages to selected taxpayers
While the majority of Canadians now file their individual income tax returns electronically, there is still a significant minority of tax filers who file using a printed return. The Canada Revenue Ag...
While the majority of Canadians now file their individual income tax returns electronically, there is still a significant minority of tax filers who file using a printed return. The Canada Revenue Ag...
CRA announces change to 2017 individual tax return forms
The Canada Revenue Agency (CRA) has posted a notice on its website that an “update” has been made to individual 2017 tax forms. Those forms are to be used by individual Canadians to file t...
The Canada Revenue Agency (CRA) has posted a notice on its website that an “update” has been made to individual 2017 tax forms. Those forms are to be used by individual Canadians to file t...
CRA reinstates telephone tax return filing service
For a number of years, taxpayers whose tax situation was relatively straightforward were able to file their return by telephone. That service, which was called TELEFILE, was withdrawn a few years ago....
For a number of years, taxpayers whose tax situation was relatively straightforward were able to file their return by telephone. That service, which was called TELEFILE, was withdrawn a few years ago....
Prescribed interest rates for first quarter of 2018
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2018, as well as the rates that will apply for the purpo...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2018, as well as the rates that will apply for the purpo...
Bank of Canada raises interest rates
As widely expected, the Bank of Canada indicated, in its regularly scheduled interest rate announcement made on January 17, that an increase in the bank rate was required. The Bank’s announceme...
As widely expected, the Bank of Canada indicated, in its regularly scheduled interest rate announcement made on January 17, that an increase in the bank rate was required. The Bank’s announceme...
Federal Budget 2018-19 consultations to end January 26
Finance Canada has announced that the consultation process leading to the release of the 2018-19 federal Budget will conclude on Friday January 26, 2018. Canadians can provide input by submitting the...
Finance Canada has announced that the consultation process leading to the release of the 2018-19 federal Budget will conclude on Friday January 26, 2018. Canadians can provide input by submitting the...
CRA issues individual T1 Tax Return Form and Guide for 2017
The Canada Revenue Agency has released the T1 Individual Income Tax Return and Benefit form to be used by individual Canadian taxpayers in filing their return for the 2017 tax year. The T1 form is ava...
The Canada Revenue Agency has released the T1 Individual Income Tax Return and Benefit form to be used by individual Canadian taxpayers in filing their return for the 2017 tax year. The T1 form is ava...
Unemployment rate for December 2017 down to 5.7%
The most recent release of Statistics Canada’s Labour Force Survey indicates that the unemployment rate for the month of December 2017 stood at 5.7%. The last period for which that rate was reco...
The most recent release of Statistics Canada’s Labour Force Survey indicates that the unemployment rate for the month of December 2017 stood at 5.7%. The last period for which that rate was reco...
Small business tax rate reduced effective January 1
As previously announced, the federal small business tax rate is reduced to 10.0%, effective as of January 1, 2018. There is no change in the federal small business limit, which remains at $500,000. T...
As previously announced, the federal small business tax rate is reduced to 10.0%, effective as of January 1, 2018. There is no change in the federal small business limit, which remains at $500,000. T...
Automobile deduction and benefit limits for 2018
Finance Canada has announced the limits and thresholds which will apply for purposes of determining automobile benefits and deductions during 2018. Most such deduction limits and thresholds are uncha...
Finance Canada has announced the limits and thresholds which will apply for purposes of determining automobile benefits and deductions during 2018. Most such deduction limits and thresholds are uncha...
CRA issues guidance on upcoming changes to small business tax rules
Planned changes to the federal income tax rules governing the taxation of small incorporated Canadian businesses are to take effect for 2018. One of those changes will include greater restrictions on ...
Planned changes to the federal income tax rules governing the taxation of small incorporated Canadian businesses are to take effect for 2018. One of those changes will include greater restrictions on ...
Changes to be made to Voluntary Disclosure Program
The Canada Revenue Agency (CRA) provides an administrative program under which taxpayers who have failed to file returns or pay taxes on a timely basis can bring their tax affairs into compliance, usu...
The Canada Revenue Agency (CRA) provides an administrative program under which taxpayers who have failed to file returns or pay taxes on a timely basis can bring their tax affairs into compliance, usu...
Age 71 final RRSP contribution to be made by December 31
Taxpayers who are turning age 71 during the year and who have available contribution room are entitled to make a final RRSP contribution for that year. Such contributions must be made by the end of t...
Taxpayers who are turning age 71 during the year and who have available contribution room are entitled to make a final RRSP contribution for that year. Such contributions must be made by the end of t...
NETFILE service for 2016 returns available until January 19
Taxpayers who have not yet filed their return for the 2016 tax year will have until January 19, 2018 to file that return using NETFILE. Until that date, returns for the 2013, 2014, 2015, and 2016 tax ...
Taxpayers who have not yet filed their return for the 2016 tax year will have until January 19, 2018 to file that return using NETFILE. Until that date, returns for the 2013, 2014, 2015, and 2016 tax ...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on December 6, the Bank of Canada indicated that, in its view, no change is required to current rates. Accordingly, the bank rate remains at ...
In its regularly scheduled interest rate announcement made on December 6, the Bank of Canada indicated that, in its view, no change is required to current rates. Accordingly, the bank rate remains at ...
Unemployment rate down in November
The most recent release of Statistic’s Canada’s Labour Force Survey shows a slight decline in the overall unemployment for the month of November. That rate declined by 0.4%, to 5.9%. The N...
The most recent release of Statistic’s Canada’s Labour Force Survey shows a slight decline in the overall unemployment for the month of November. That rate declined by 0.4%, to 5.9%. The N...
T4127 for 2018 payroll deduction amounts released
The Canada Revenue Agency has issued the 2018 version of its publication T4127(E), Payroll Deductions Formulas. The guide is intended for use by payroll software providers and by employers which manag...
The Canada Revenue Agency has issued the 2018 version of its publication T4127(E), Payroll Deductions Formulas. The guide is intended for use by payroll software providers and by employers which manag...
CRA issues federal TD1 Form and TD1 Worksheet for 2018
The Canada Revenue Agency has issued the federal TD1 Form and Worksheet which will be used by taxpayers and their employers to determine required federal income tax source deductions for the upcoming ...
The Canada Revenue Agency has issued the federal TD1 Form and Worksheet which will be used by taxpayers and their employers to determine required federal income tax source deductions for the upcoming ...
Inflation rate up by 1.4% in October
The most recent release of Statistics Canada’s Consumer Price Index (CPI) shows an inflation rate of 1.4% for the month of October, as measured on a year-over-year basis. The equivalent rate for...
The most recent release of Statistics Canada’s Consumer Price Index (CPI) shows an inflation rate of 1.4% for the month of October, as measured on a year-over-year basis. The equivalent rate for...
Finance launches pre-budget consultations
Finance Canada has begun the consultation process leading to the release of the 2018-19 federal Budget. As part of that budget consultation process, the Minister of Finance is holding in-person publi...
Finance Canada has begun the consultation process leading to the release of the 2018-19 federal Budget. As part of that budget consultation process, the Minister of Finance is holding in-person publi...
CRA to provide online filing for trust tax and information returns
Effective as of January 8, 2018, administrators and representatives of qualifying Canadian trusts will be able to file trust income tax and information returns online, through the Canada Revenue Agenc...
Effective as of January 8, 2018, administrators and representatives of qualifying Canadian trusts will be able to file trust income tax and information returns online, through the Canada Revenue Agenc...
Employment Insurance premium rates for 2018
The federal government has announced the premium rates and maximum insurable earnings amount which will be in place for the 2018 calendar year. The premium rate for the year for employees has been se...
The federal government has announced the premium rates and maximum insurable earnings amount which will be in place for the 2018 calendar year. The premium rate for the year for employees has been se...
CRA announces CPP contribution rates and amounts for 2018
The Canada Revenue Agency (CRA) has announced the contribution rates and amounts for both employers and employees which will apply for 2018. Maximum pensionable earnings for the year will be $55,900 ...
The Canada Revenue Agency (CRA) has announced the contribution rates and amounts for both employers and employees which will apply for 2018. Maximum pensionable earnings for the year will be $55,900 ...
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