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Business ArticlesDo you know your GST/HST filing period? Keeping up with your GST/HST returns will help you avoid penalties and interest in the future
As a GST/HST registrant, you must complete a GST/HST return for every filing period, even if you have no business transactions to report or GST/HST to pay. But GST/HST filing periods are not one size fits all. Depending on your business's total annual sales, you may...
Worried that the Canada Revenue Agency got it wrong? How to dispute a tax decision
No one "enjoys" paying taxes, but we recognize that it contributes to Canada's ongoing economic and social well-being. As the organization responsible for administering tax laws for the Government of Canada and for most provinces and territories, the Canada Revenue...
Introducing the new multi-factor authentication passcode grid
The Canada Revenue Agency is committed to protecting the personal and tax information of Canadians by making the multi-factor authentication (MFA) security feature accessible to all users. As of September 26, 2021, the new MFA passcode grid is now available to all...
The Government of Canada launches online calculator to help businesses apply for the new Canada Recovery Hiring Program
The Government of Canada remains committed to supporting Canadian businesses in the face of the ongoing pandemic. With the recently announced Canada Recovery Hiring Program (CRHP), hard-hit businesses will be able to hire the workers they need to recover and grow as...
How to tell you’ve been contacted by the CRA, and what to do if you are
Now that you've filed your 2020 income tax and benefit return, it's possible that the Canada Revenue Agency (CRA) contacts you to discuss your tax and benefit situation. However, you should be aware of scammers pretending to be CRA employees. They often contact...
Warning: Watch out for TFSA maximizer schemes
The Canada Revenue Agency (CRA) is warning Canadians about participating in tax schemes where promoters are claiming that individuals can transfer funds out of their registered retirement savings plan (RRSP) or registered retirement income fund (RRIF) into a tax-free...
Warning: Watch out for tax shelter gifting schemes
The Canada Revenue Agency (CRA) is warning Canadians about getting involved in tax shelter gifting arrangement schemes. Promoters, including some representatives, tax preparers and investment professionals, are encouraging their clients to participate in gifting...
The CRA is now accepting grant applications from organizations that host free tax clinics
From May 1 until June 30, 2021, the Canada Revenue Agency (CRA) will accept grant applications from community organizations that offered free tax clinics in 2021 through the Community Volunteer Income Tax Program (CVITP) and the Income Tax Assistance – Volunteer...
Join us April 26
The Canadian Payroll Association is hosting a special three-hour webinar this April. Diversity, Equity and Inclusion in the Workplace is designed to help organizations and employees learn the skills and behaviours that will foster an inclusive culture. After...
Getting Familiar with Month End Reports
Bookkeeping is cyclical. Year in and year out, the cycle is continual and this is why the responsibility placed on bookkeepers and accountants is so important. Just as every business has its fiscal year and quarterly reports, the numbers team has its own reporting to...