Archive for December, 2009
The Case For A Canadian Flat Income Tax System
Posted on 12. Dec, 2009 by Phil Hogan, CA.
Tweet Maureen Bader at the Canadian Taxpayers Federation makes the case for a flat Canadian Tax citing stats from 2004 Statcan data. The short article can be read here: http://www.taxpayer.com/blog/11-12-2009/weathy-bear-disproprionately-higher-tax-burden
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CRA Announces Interest Rates For The First Quarter
Posted on 05. Dec, 2009 by Phil Hogan, CA.
Tweet CRA has announced their interest rates for the first quarter of 2010. The rates include both the penalty rates for overdue balances as well as the prescribed rates for employee and shareholder loans: The interest rate charged on overdue taxes, Canada Pension Plan contributions, and Employment Insurance premiums will be 5%. The interest rate [...]
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CRA’s New Mandatory E-Filing Requirements For Corporations
Posted on 04. Dec, 2009 by Phil Hogan, CA.
Tweet The CRA has announced that for year-ends ending after January 2009 all corporations with revenues in excess of $1 million will be required to file their corporate T2 returns electronically. They will however only be assessing penalties to those T2 returns with tax years ending after 2010 that are not filed electronically, in essence [...]
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CRA Is Now Offering Online Payment Services
Posted on 03. Dec, 2009 by Phil Hogan, CA.
Tweet It’s been a long time coming, but The Canada Revenue Agency is now offering electronic payments for individuals and businesses. Their new MyPayment system allows individuals to pay personal tax installments and balances as well as allowing businesses to pay the following accounts:
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