The CRA supports the five recommendations set out in the recent letter from the Offshore Compliance Advisory Committee (OCAC).
CRA has executed three search warrants in a criminal investigation of offshore tax evasion. Read: Remind clients to report offshore investments The search warrants took place on Feb. 14, 2018, during an investigation related to the data leak from the Panamanian law firm and corporate service provider Mossack Fonseca, says CRA in a release. About […]
It may seem early to start thinking about filing taxes, but this year’s return could be particularly time-consuming for Canadians who have flocked to bitcoin and other cryptocurrencies, especially those who don’t realize they owe the government money. No need to worry if you’ve purchased bitcoin but haven’t touched it since. But once that cryptocurrency […]
For 2017 tax filing, here are changes you can share with clients, courtesy of the CRA
New this year for trust administrators and their reps: a simple T3 trust income tax and information return (T3RET) can be filed online using CRA’s internet file transfer service. A simple return means the trust’s taxable income, total taxes payable and refund or balance owing are $0, says CRA’s website. Online filing for simple trust […]
Why people living with Type 1 diabetes have been refused the Disability Tax Credit
CRA reminds taxpayers that they have until Dec. 31, 2017, to make taxpayer relief requests related to 2007. The deadline applies to relief requests for: the 2007 tax year, any reporting period that ended during the 2007 calendar year and any interest and penalties that accrued during the 2007 calendar year for any tax year […]
Where that tax payment goes
Following a June consultation, CRA is tweaking the VDP
A B.C. resident pleaded guilty Friday to tax evasion under the Excise Tax Act after a CRA investigation found she had forged a Residential Tenancy Agreement (RTA). Harpreet Kaur Sidhu of Burnaby, B.C., was sentenced to 12 months probation and fined $42,950—the amount of GST/HST she tried to evade, CRA said in a release. Sidhu […]