Frequent trading in a TFSA could be deemed carrying on a business
The annual CRA roundtable at the Society of Trust and Estate Society Practitioners (STEP) National Conference allows attendees to hear directly from agency representatives about tax policy and administration. This year’s roundtable, held June 13, revealed that CRA had collected $75 million to date as a result of TFSA audits. The roundtable also covered dual […]
The Canada Revenue Agency is going to offer more services to rural communities
If your clients are the parents of post-secondary students, you can now reassure them that the kids benefit when they pay tuition themselves. That’s because an RBC survey finds that students who receive less than 25% of their school funding from parents feel more confident making financial decisions and are more likely to make and […]
Investigators target fraud in Old Age Security program
Advisors waiting for CRA to clarify how it will treat registered fees paid from open accounts will have to wait a little longer
Largely, there have been no changes to the prescribed interest rates since last quarter, says CRA
Ottawa’s changes to the private corporation and small business tax rules have made the new regime so complex that it’s almost unworkable, tax experts said at a conference panel Monday. Speaking at the Society of Trust and Estate Practitioners’ annual conference in Toronto, panelists said rules around associated corporations, arm’s-length individuals and various carveouts make […]
Diane Lebouthillier, minister of national revenue, has launched an online consultation to get commentary from Canadians on CRA's proposed changes to tighten its Voluntary Disclosures Program (VDP)