Archive for 'CRA News'
June 15 filing deadline approaches for self-employed individuals
Posted on 13. Jun, 2010 by Phil Hogan, CA.
Self employed individuals and their spouses/common law partners have until midnight on Tuesday, June 15 to file their income tax returns. Any outstanding balances for 2009 had to be paid on or before April 30/2010. Click here to read more: http://www.cra-arc.gc.ca/
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CRA announces electronic filing requirements for GST and HST
Posted on 04. Jan, 2010 by Phil Hogan, CA.
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 [...]
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CRA Announces Interest Rates For The First Quarter
Posted on 05. Dec, 2009 by Phil Hogan, CA.
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 [...]
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CRA’s New Mandatory E-Filing Requirements For Corporations
Posted on 04. Dec, 2009 by Phil Hogan, CA.
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 [...]
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CRA Is Now Offering Online Payment Services
Posted on 03. Dec, 2009 by Phil Hogan, CA.
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: