Tax

CRA pressured to reduce payment errors

The Canada Revenue Agency (CRA) needs to improve service to taxpayers whose payments are misallocated, says Canada's Taxpayers' Ombudsman, Mr. J. Paul Dube.

By Staff |September 13, 2012

1 min read

Tax News

Canadians want tax reform: CGA-Canada

A majority of Canadians want a simpler tax system.

By Staff |September 10, 2012

1 min read

Tax News

Cope with inter-jurisdictional tax problems

Many immigrant clients incur penalties for accidentally disobeying tax laws. When that happens, they may blame you, so learn the common errors.

By Melissa Shin |September 5, 2012

2 min read

Industry

IRS issues guidelines for tax compliance

In late June, after the IRS announced it will be helping U.S. and dual citizens overseas, the U.S. tax agency suggested it would publish guidelines by September 1 for a new procedure meant to encourage those who haven’t been filing U.S. tax returns to get on the road to compliance. They're now available.

By Terry F. Ritchie |September 4, 2012

4 min read

Back to school financial tips for students

Students are set to head off to college and university with many valuables, but are they prepared for the financial risks? Read: Teens need money smarts Breaking and entering, as well as theft of valuables up to $5,000, accounted for 60% of police-reported property crime in 2011, finds Statistics Canada. The most common stolen items […]

By Suzanne Sharma |September 4, 2012

2 min read

Want to beat the OAS clawback? Move south

Do you have a Canadian client who is planning to move south of the border? Then here’s some good news. He can apply for OAS in the U.S. and won’t be subject to the standard clawback thanks to the Canada-U.S. Treaty. “Sometimes people don’t apply for [OAS] after they move to the U.S. because they […]

By Suzanne Sharma |September 1, 2012

2 min read

RESPs: Just the facts

Lifetime contribution amount: $50,000 for RESPs opened after 2007 Annual contribution limit: None Maximum age to open: None. However, Canadian Education Savings Grants are only available to children until December 31 of the year the child turns 17. Canada Learning Bonds are available to age 21. Read: Making cash gifts “resp”onsible Duration: until December 31 […]

By Staff |September 1, 2012

1 min read

Online tax tools for business owners

The CRA has introduced a number of tools to reduce the tax burden placed on small businesses, says the Honourable Gail Shea, minister of national revenue. “By offering improved services, we’re aiming to reduce the red tape faced by small businesses and Canadian entrepreneurs,” he said. Read: Tax tips for business owners To keep businesses […]

By Staff |August 28, 2012

1 min read

Tax

CRA pressured to reduce payment errors

Canadians want tax reform: CGA-Canada

Cope with inter-jurisdictional tax problems

IRS issues guidelines for tax compliance

Back to school financial tips for students

Want to beat the OAS clawback? Move south

RESPs: Just the facts

Common U.S. tax troubles

Online tax tools for business owners

A look at U.S. tax exposure