Phil Hogan

CRA announces electronic filing requirements for GST and HST

Posted on 04. Jan, 2010 by Phil Hogan.

Beginning July 1, 2010, all gst/hst registrants with annual taxable supplies over $1.5 million (in addition to some other less common situations contained within the release) will be required to filing electronically.
Although these changes are only in effect for those mentioned above, the Government encourages all registrant to filing their gst/hst returns electronically.
The full release [...]

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CRA Announces Interest Rates For The First Quarter

Posted on 05. Dec, 2009 by Phil Hogan.

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 paid on [...]

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CRA’s New Mandatory E-Filing Requirements For Corporations

Posted on 04. Dec, 2009 by Phil Hogan.

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 giving businesses [...]

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CRA Is Now Offering Online Payment Services

Posted on 03. Dec, 2009 by Phil Hogan.

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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