Canadian Tax News. Learn how to stay tax compliant.
Cawston and Associates discuss Canadian tax laws related to director’s liability, trust debts such as GST and payroll tax, and more.
The Canada Revenue Agency recently declared that Canada’s underground economy has transactions of about $68 billion a year? Since Alberta is 11% of Canada’s population, its portion creates an undergrounds economy of about $7.8 billion. In turn, Calgary’s underground economy could be $2.4 billion or even higher. As Calgary tax consultants, we review how …
Despite knowing how important it is to pay taxes, some people find it challenging to pay them. There are a few psychological reasons for this. It’s that time of year again. The deadline for filing taxes is fast approaching, yet somehow, you find yourself putting it off. You’re not alone. According to a recent poll …
Tax Stress and Anxiety The Psychology of Tax Debt to the CRA Read More »
Beware the CRA is Back Collecting. The Covid Honeymoon is Over. The CRA is back collecting with a vengeance. We are getting many frantic people having their bank accounts frozen and all the funds taken by the CRA. Their pay cheques or accounts receivables garnished. Your rent, mortgage or payroll is due. What should you …
Beware the CRA is Back Collecting. The Covid Honeymoon is Over. Read More »
Tax Lawyer, Tax Consultant, and Tax Accountant – What is the Difference? Most Canadians get jittery when they realize that tax season is around the corner —and the apprehension is understandable. Tax filing can be a complex subject for the average taxpayer to wrap their head around. But you need not worry. Find out about …
Tax Lawyer, Tax Consultant, and Tax Accountant – What is the Difference? Read More »
When a collection officer calls from the Canada Revenue Agency here are some things to know: Try to be polite. Remember a collection officer is a real person who spends their day on the phone talking to people who don’t want to deal with them. Even if they wanted to, a collection officer does not …
CRA Activities We Noted for February 2021 We have heard time and time again that the Canada Revenue Agency is still open and providing services to Canadians during the pandemic. While this is true, the level of service and the timeliness of the Canada Revenue Agency has gotten significantly worse. As qualified tax practitioners we …
Status of the Canada Revenue Agency as of February 2021 Read More »
Canadian Tax Shelter Scams We get many calls from people who participated in tax shelters. Their story is usually goes like this: I bought into a tax shelter 4 or 5 years ago. I contributed for one or more years. I put $10,000 into a charitable donation and got a tax-deductible receipt for $100,000. The …
Trudeau and the Canadian Small Business Tax Despite its consultation with Canadians it appears that the Liberal government is moving forward with their proposed tax changes. As tax professionals we are concerned that these changes will reduce the incentives that entrepreneurs have to start or grow their small businesses. We understand that the government is …
Director’s Liability Assessment with the Canada Revenue Agency Below is a recent letter from the CRA in response to our appeal on behalf of our client. If you believe you have been erroneously assessed by the Canada Revenue Agency for Director’s Liability or other sections of the tax code then please call us. Dear Mr. …
New CRA Rules and Advice for 2016 2017 Canada Revenue Agency Email and Phone Scams – There are multiple criminal organizations and individuals human-voice and robo calling Canadians impersonating a Canada Revenue Agency agent. These fake agents are requesting money or personal information. If you receive such an email or phone call, hang up without …