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Industry NewsTax preparers and professionals: Important information for the 2022 tax-filing season
The Canada Revenue Agency (CRA) would like to thank you for helping us provide Canadians with important information that they need to file their income tax and benefit returns every year. Filing deadline We would like to remind you that the tax-filing deadline for...
Do you work in the gig economy? Here’s what you need to know
What is the gig economy? The gig economy is based on temporary and freelance work, or short-term contracts. As a gig worker, your contract services may range from a small task to a highly specialized service. If you are connecting with clients through online...
Eight things to remember before you file your 2021 income tax and benefit return
Getting ready to file your income tax and benefit return? We have a few tips that could help you prepare, save time and ensure you receive all the benefits and credits that you are entitled to: File your return on time First things first, make sure you file your...
Keeping records of your cryptocurrency transaction
What is cryptocurrency? A cryptocurrency is a type of virtual asset that is protected using cryptography. It typically uses a system called a blockchain to record and keep a history of transactions. Cryptocurrencies, such as Bitcoin and Ether, are independent, meaning...
Avoid last minute delays at tax time by using the Confirm my Representative service
To save time this tax season, familiarize yourself with the new, two-step verification process for authorizing a representative using Represent a Client. Introduced in the Fall by the Canada Revenue Agency (CRA), this process makes it easier for clients to confirm who...
Tax preparers and professionals: Here’s what you need to know for the 2022 tax-filing season
The Canada Revenue Agency (CRA) wants to help you and your clients prepare to file their income tax and benefit return this year. The tax-filing deadline for most individuals is April 30, 2022 Since April 30, 2022, falls on a Saturday, your clients' return will be...
Introducing the new multi-factor authentication exemption feature
Multi-factor authentication (MFA) is a security measure added to CRA sign-in services to further protect taxpayer information. All users are required to use MFA when accessing our sign-in services. Throughout the implementation of MFA, we've continued to add new...
Valuing your cryptocurrency
What is cryptocurrency? A cryptocurrency is a type of virtual asset that is protected using cryptography. It typically uses a system called a blockchain to record and keep a history of transactions. Cryptocurrencies, such as Bitcoin and Ether, are independent, meaning...
Free CRA webinar for businesses on retiring allowances
When an employee is retiring, laid off, or let go, it is important that you know your tax obligations. The Canada Revenue Agency (CRA) is committed to ensuring businesses have the knowledge they need to make retiring allowances as simple as possible. To this end, we...
To make accounts more secure, email addresses will be required in My Account as of February 2022
The Canada Revenue Agency (CRA) is committed to protecting the personal and tax information of Canadians. As of February 7, 2022, the CRA will require that My Account users have an email address on file to help protect their online accounts from fraudulent activity....