CRA – Advisor's Edge https://phoenix.advisor.ca The best news source for Canadian financial advisors. Investments, financial markets, insurance, practice management, tax and estate planning Thu, 05 Oct 2023 18:47:00 +0000 en-CA hourly 1 https://wordpress.org/?v=5.9.3 https://phoenix.advisor.ca/wp-content/uploads/sites/5/2018/05/cropped-advisor-ico-32x32.png CRA – Advisor's Edge https://phoenix.advisor.ca 32 32 The cost of TFSA contributions for non-residents https://phoenix.advisor.ca/tax/tax-news/the-cost-of-tfsa-contributions-for-non-residents/ Wed, 27 Sep 2023 21:27:08 +0000 https://www.advisor.ca/?p=231151 Case study explains the consequences

The post The cost of TFSA contributions for non-residents appeared first on Advisor's Edge.

]]> CRA offers no relief on stiff penalties for late-filing UHT returns https://phoenix.advisor.ca/tax/tax-news/cra-offers-no-relief-on-stiff-penalties-for-late-filing-uht-returns/ Mon, 25 Sep 2023 17:30:54 +0000 https://www.advisor.ca/?p=231094 Tax agency releases underused housing tax self-assessment tool

The post CRA offers no relief on stiff penalties for late-filing UHT returns appeared first on Advisor's Edge.

]]> Lawyers temporarily exempted from CRA’s mandatory disclosure requirements https://phoenix.advisor.ca/tax/tax-news/lawyers-temporarily-exempted-from-cras-mandatory-disclosure-requirements/ Fri, 15 Sep 2023 16:37:18 +0000 https://www.advisor.ca/?p=230801 The Federation of Law Societies of Canada argued that the new regime violates the Charter of Rights and Freedoms

The post Lawyers temporarily exempted from CRA’s mandatory disclosure requirements appeared first on Advisor's Edge.

]]> Updated tax-avoidance proposals include new penalty https://phoenix.advisor.ca/tax/tax-news/updated-tax-avoidance-proposals-include-new-penalty/ Tue, 12 Sep 2023 10:00:12 +0000 https://www.advisor.ca/?p=230595 Tax lawyers express concerns about overreach as Ottawa proposes to revamp the general anti-avoidance rule

The post Updated tax-avoidance proposals include new penalty appeared first on Advisor's Edge.

]]> CRA announces prescribed rate for Q4 https://phoenix.advisor.ca/tax/tax-news/cra-announces-prescribed-rate-for-q4/ Mon, 11 Sep 2023 14:50:37 +0000 https://www.advisor.ca/?p=230603 Interest rate Canadians must pay on overdue tax will remain 9%

The post CRA announces prescribed rate for Q4 appeared first on Advisor's Edge.

]]> CRA offers minor relief on reportable transactions https://phoenix.advisor.ca/tax/tax-news/cra-offers-minor-relief-on-reportable-transactions/ Mon, 11 Sep 2023 14:26:22 +0000 https://www.advisor.ca/?p=230577 The 90-day deadline for the first mandatory disclosures under the new law is Sept. 20

The post CRA offers minor relief on reportable transactions appeared first on Advisor's Edge.

]]> Review finds at least 120 CRA employees claimed Covid benefits while employed https://phoenix.advisor.ca/tax/tax-news/review-finds-at-least-120-cra-employees-claimed-covid-benefits-while-employed/ Fri, 01 Sep 2023 16:13:18 +0000 https://www.advisor.ca/?p=230344 The CRA said in July that it had let 20 employees go as a result of its CERB investigation

The post Review finds at least 120 CRA employees claimed Covid benefits while employed appeared first on Advisor's Edge.

]]> CRA extends deadlines for taxpayers affected by wildfires https://phoenix.advisor.ca/news/industry-news/cra-extends-deadlines-for-taxpayers-affected-by-wildfires/ Fri, 01 Sep 2023 14:00:15 +0000 https://www.advisor.ca/?p=230336 Relief of penalties and interest may also be available to affected people and businesses

The post CRA extends deadlines for taxpayers affected by wildfires appeared first on Advisor's Edge.

]]> CRA releases death-related FHSA forms https://phoenix.advisor.ca/tax/tax-news/cra-releases-death-related-fhsa-forms/ Thu, 10 Aug 2023 20:16:22 +0000 https://www.advisor.ca/?p=229603 The agency will also be releasing a consolidated T4 slip for FHSA account holders

The post CRA releases death-related FHSA forms appeared first on Advisor's Edge.

]]> Advisors should help business owners prepare for new corporate ownership registry https://phoenix.advisor.ca/tax/tax-news/advisors-should-help-business-owners-prepare-for-new-corporate-ownership-registry/ Wed, 02 Aug 2023 20:33:05 +0000 https://www.advisor.ca/?p=229291 Bill C-42 would bring public access to private corporations’ beneficial ownership info

The post Advisors should help business owners prepare for new corporate ownership registry appeared first on Advisor's Edge.

]]>