For easy access on up to date accounting and financial news.
News 1. 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 2. Recent changes to income sprinkling restrictions.
One of the largest impacts on small businesses is the allocation of money to the shareholders. Read here to find the most up to date changes the government has proposed on income sprinkling from corporations and what you need to do to be on side.
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News 3. Keeping up with Private Corporation Tax Proposals
Announcements relating to the proposals on tax planning using private corporations were being made on an almost daily basis. The following article is a day-by-day account of these developments and will get you up-to date on the current status of the proposals.
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.