LATEST NEWS

/LATEST NEWS

Cracking down on tax evasion and avoidance

What the CRA is doing to crack down on tax evasion & aggressive tax avoidance: •Reviewing high-value money transfers as they cross borders to and from Canada (Electronic Funds Transfers (EFTs) over $10,000) and studying [...]

By |January 11th, 2017|Categories: Uncategorized|0 Comments

Fraudulent emails and phone calls – Protect yourself!

Occasionally, taxpayers may receive, either by telephone, mail, text message or email, a fraudulent communication that claims to be from the Canada Revenue Agency (CRA). In all these cases, the communication requests personal information, such [...]

By |July 7th, 2015|Categories: Uncategorized|0 Comments

What’s new for this tax-filing season?

Important facts •Children's fitness amount - Under proposed changes, the maximum amount of eligible fees for each child has increased to $1,000. •Search and rescue volunteer amount - As a search and rescue volunteer, you [...]

2015 indexation adjustment for personal income tax, benefit amounts, and the annual dollar limit for Tax-Free Savings Accounts (TFSAs)

Each year, certain personal income tax and benefit amounts are indexed to inflation using the Consumer Price Index data as reported by Statistics Canada. Increases to tax bracket thresholds, amounts relating to non-refundable credits, and [...]

Warning: be cautious if you are thinking of participating in a gifting tax shelter scheme

Although the Canada Revenue Agency (CRA) regularly issues warnings and has reassessed thousands of participants, some taxpayers are still participating in gifting tax shelter schemes. Here’s what you need to know about such schemes: The [...]

Conservative tax breaks leave out ‘vast majority’ of households

Families with one high-income earner will see the most benefits from Harper's changes to income taxes and family support payments. Tax and benefit measures announced by Prime Minister Stephen Harper last month have been sharply [...]