Tax News
What to do if the Canada Revenue Agency reviews your tax return
If the Canada Revenue Agency (CRA) tells you it’s reviewing one or more of your tax returns, don’t panic! In most cases, it’s simply a routine check. What is a review of your tax return? The first thing you should … Read more
The most common income tax errors business make
Most common errors • Unreported or underreported income • Over claimed motor vehicle expenses • Over claimed business-use-of-home expenses • Over claimed utilities expenses • Over claimed meals and entertainment expenses • Capital Cost Allowance (CCA) • GST/HST included in … Read more
Change of Address
CHANGE OF ADDRESS If you want to change the physical or mailing address of your business (sole proprietorship, partnership, or corporation), you or your representative have to notify the Canada Revenue Agency (CRA) as soon as possible. Why is … Read more
Objection and Appeal to Canada Revenue Agency How to register a formal dispute
If you disagree with an assessment, determination, or decision, you have the right to register a formal dispute.The following topics will help you get started with your dispute, including time limits for filing an objection or appeal. If you think … Read more
Change of operating name
Your operating name is the name you use in your day-to-day activities and to advertise your business. You only need to provide your operating name if it is different from your legal name Example 1 You are a sole proprietor … Read more
New Canada Child benefit replace Canada child tax benefit
The budget 2016 gives Canadian family more money to help with the high cost of raising their children, by replacing the current child benefit system with the new Canada Child Benefit. You will see changes to your child benefits starting … Read more
Top things families should know about taxes
There are many benefits, credits, and deductions to help your family with expenses throughout the year and reduce the amount you owe or increase your refund at tax time. The following tips may help you or your family: Canada child … Read more
Pay online to Canada Revenue Agency
My Payment is an electronic payment service offered by the CRA that uses interac to allow individuals and businesses to make payments directly to the CRA from their online banking account. Use this service to make payments to one or … Read more
Employment expenses: Work space used in your home
You can deduct expenses you paid in 2014 for the employment use of a work space in Your home, as long as you had to pay for them under your contract of employment. These expenses must be used directly in … Read more
Common Tax Mistakes
Where Canada Revenue Agency auditors find the most common tax problems or mistakes that people make, and for which tax assessments or reassessments may be issued. Meals and entertainment: If you are deducting expenses, whether for a corporation or for … Read more
