Small businesses are clearly underwhelmed by CRA. The Canadian Federation of Independent Business (CFIB) gives the agency a C-grade in its latest report card. The grade hasn’t improved since the federation’s last report card in 2015. Read: CRA’s 2018 maximum pensionable earnings and other numbers “In recent years, the CRA has made efforts to improve […]
CRA has expanded its liaison officer service for small businesses. Read: Small business sentiment improves in November Specifically, CRA now accepts requests from unincorporated small businesses for visits from liaison officers to answer tax questions. Previously, visits to businesses were initiated by CRA. Small business groups or associations may also request in-person seminars from CRA […]
Court case illustrates client challenges
While CRA’s budget is relatively small, to clients it’s mighty
A new option for 2017 and later tax years
Statistics Canada data released in September 2017 shows that clients are embracing retirement savings accounts. According to the data, nearly two-thirds of Canada’s 14 million households made some form of retirement contribution in 2015. About 40% of households contributed to a TFSA, 35% to an RRSP and 30% to a registered pension plan. Almost 10% […]
The tax bite is the worst for lower-income Canadians and small business owners.
Consultations extend into 2018
In a release, CRA says former Calgary resident has also been fined $550,892
The results will surprise you: it’s not the usual suspects.