For easy access on up to date accounting and financial news.
News 1. Tax Filing Deadlines and Economic Relief.
The Government of Canada is taking immediate, significant and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak.
On March 18, 2020, the Prime Minister announced a new set of economic measures to help stabilize the economy during this challenging period. These measures, delivered as part of the Government of Canada’s COVID-19 Economic Response Plan, will provide up to $27 billion in direct support to Canadian workers and businesses.
News 2. Canadian Payroll Association COVID -19 Answers to Employer Questions.
The attached document provides some insight for employers on changes to Employment Insurance (EI) and other measures pertaining to payroll that have been implemented in response to the outbreak of COVID-19 on March 11, 2020.
It includes answers to some common questions in regards to completing ROE's and taxable benefits.
News 3. CRA Fraud Schemes are Getting More Convincing.
If you receive a call from an RCMP detachment’s non-emergency number, and the person on the other line says they’re a police officer and you’re wanted for unpaid taxes, hang up because it’s the latest Canada Revenue Agency (CRA) scam.
“They’re becoming more sophisticated. They’re identifying as police officers, they provide a badge number, when a person looks at the call display and sees RCMP and the phone number, they start to question whether this is real,” Const. Shelley Nasheim with the Spruce Grove RCMP explained.
News 4. EY Tax Alert Canada
Private Company tax reform: Where are we now?
EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical summaries to keep you on top of the latest tax issues. For more information please contact us.
News 5. Deferred Cash Tickets to Remain an Important Business Tool for Farmers
Winnipeg, Manitoba – Canola farmers welcomed the recent announcement by Agriculture and Agri-Food Canada Minister Lawrence MacAulay that the current use of deferred cash purchase tickets for canola and other listed grains will be maintained. Earlier this year the Government of Canada had launched consultations exploring the potential elimination of this important farm business tool.
News 6. How Does CRA Audit?
The word audit strikes fear into the hearts of tax payers. However you have rights as a taxpayer that cannot be violated during the audit process.
The more informed you are as a business owner and tax payer the more confident and comfortable you will be with the audit process. Follow the links below to read more on not only the processes used by CRA but also your rights as a tax payer.