On July 1, 2014, the Foreign Account Tax Compliance Act (FATCA) came into force. The goal: prevent millions of U.S. taxpayers, and the global financial institutions that serve them, from evading U.S. tax on income and assets held outside U.S.
Six years after TFSAs were introduced, many clients still don’t understand how they work, finds a survey by Mackenzie Investments.
CRA just made life easier for executors administering estates that include unexercised stock options.
The Senate expense scandal currently sweeping through Parliament Hill is a master class in how not to mix business and personal expenses.
The tampon tax may be gone, but the tampon tariff lives on, and its existence illustrates the red tape all importers face.
This year’s tax filing deadline for self-employed clients is Monday, June 15.
Alberta NDP Premier Rachel Notley’s tax plan, which would make new personal tax brackets and raise corporate rates, won’t be enough to balance the budget.
CRA has tested its employees’ ability to spot phishing emails, and the results are less than impressive, reports the Globe and Mail.
How to report support payments
A new federal law allows CRA to share taxpayer information with 13 more government agencies than previously. Under the old rules, CRA could only share this information with the RCMP, CSIS and FINTRAC, and under limited circumstances.