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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,...
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...
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...
On January 27th, 2009 Jim Flaherty, Federal Finance Minister announced the introduction of the Home Renovation Tax Credit. The non-refundable tax credit is calculated at 15% of eligible expenses over $1,000 to a maximum of $10,000. The maximum Home...