Debts the Canada Revenue Agency collects The Canada Revenue Agency (CRA) collects amounts owing such as: individual income tax payroll deductions GST/HST remittances corporation income tax customs, excise, and other levies benefit overpayments including: Canada child benefit GST/HST credit The CRA also collects the following amounts owed for other government programs: defaulted Canada Student
Here are some tips from the Canada Revenue Agency’s review programs. Following these tips should help reduce the number of adjustments the CRA needs to make to returns each year. No reply received If you do not provide the information requested within the timeframe indicated on the letter, the CRA will deny or modify
Making a payment to the Canada Revenue Agency is now easier and more convenient than ever. The CRA has recently expanded the payment methods they accept. Pay by online banking Pay your individual taxes to the Canada Revenue Agency (CRA) through your financial institution’s online banking, the same way you pay your phone or
Each summer, following the tax filing season, the Canada Revenue Agency (CRA) uses information from an individual’s income tax and benefit return, along with the return of their spouse or common-law partner, to calculate benefit and credit payments for the upcoming year. Starting in July, eligible benefit and credit recipients may notice changes to
An income tax review is easier than you think! Since Canada's tax system is based on self-assessment, these reviews help confirm that income amounts, deductions, and credits are reported correctly, and can be properly supported. It is OK. If you receive a letter from the Canada Revenue Agency (CRA) telling you that your income tax return
The Medical Expense Tax Credit – Service Animals (METC) provides tax relief in respect of certain expenses related to an animal specially trained to assist a patient in coping with the following impairments: blindness, profound deafness, severe autism, severe diabetes, severe epilepsy or a severe and prolonged impairment that markedly restricts the use
What is property flipping? Property flipping is when individuals, including real estate agents, buy and resell homes in a short period of time for a profit. This also includes buying and selling a property before its official sale or construction—a process called an “assignment sale” but sometimes also referred to as “shadow flipping”.
The tax deadline has come and gone, however, scammers continue to pray on Canadian taxpayers. You may get a phone call from a person aggressively telling you to pay the taxes you owe. In order to trick Canadians into thinking they are indeed calling from the Canada Revenue Agency (CRA), scammers may change
It is the Canada Revenue’s goal to issue a notice of assessment, including any applicable refund, within: two weeks of receiving your electronically filed return; or eight weeks of receiving your paper filed return. These timelines are ONLY valid for returns received on or before their filing due dates. The CRA may take
What you can do if you cannot pay your balance owing? Even if you cannot pay all of your balance owing right away, file your return by the filing due date. So you can avoid a late-filing penalty. If you cannot pay your balance owing on or before April 30, 2018, we may accept a payment