Category Archives: CRA News

The Evolution of Signatures

Written By on October 5, 2018

From a chisel on stone tablets, to a quill on parchment, to digital signatures, the evolution of signatures has seen many changes along the way. As a result, businesses and governments have had to adapt to the changing times. Yet, innovations in signature technology have been questioned as far back as 1867 when a US Court looked at the legitimacy of a signature transmitted via telegraph. Today, we have much more certainty thanks to the Personal Information Protection and Electronic […]

EMAIL SCAM ALERT: Fraudulent Email Money Transfers

Written By on July 11, 2017

There has been a major increase in the number of fraudulent email money transfers being reported to us. Just in the last week alone we have had almost a dozen reports of people receiving fraudulent email money transfers from a sender claiming to be the Canada Revenue Agency. There are two things to look for to confirm fraudulent email money transfers: 1) THE CANADA REVENUE AGENCY NEVER SENDS MONEY BY EMAIL. The Canada Revenue Agency will send a physical cheque […]

TEACHERS: A school supplies tax credit just for you!

Written By on October 24, 2016

The Eligible Educator School Supply Tax Credit, worth 15% on up to $1,000 of eligible school supplies, has now become law. To mark the occasion, CRA has published a Question and Answer providing commentary on this new refundable tax credit available in 2016 and subsequent years. The credit is also referred to as the Teacher and Early Childhood Educator School Supply Tax Credit; or, simply, the School Supplies Tax Credit. Who Qualifies? The new tax credit can only be claimed by an eligible teacher or early childhood […]

CRA Instalment Payments: Do I have to pay them?

Written By on September 13, 2016

When tax returns for 2015 were filed, some individuals would have been required to make a substantial tax payment in April of 2016 since their 2015 tax withholdings and instalment payments (or lack of) were not sufficient to cover the additional income. In general, if that April payment upon filing was greater than $3,000, CRA will request those individuals to make instalment payments during the 2016 year. Instalment reminders are sent out by CRA (usually in August) and may ask […]

WORKING BUT NOT PAYING YOURSELF: Employment Insurance Issues

Written By on June 20, 2016

After leaving a job, an individual may incorporate a business, or invest more time in one that they already operate. The individual may then decide to leave all the money in the corporation, taking no wages. Or, perhaps, the business is unable to pay a salary as it is not making sufficient revenues. Since the individual does not receive any personal wages, they may be motivated to apply for EI unemployment benefits. It sounds simple right? Wrong. In a February […]

Tips and Gratuities: Employer’s Responsibilities

Written By on May 25, 2016

Gratuities or tips received by employees are income earned from employment. However, it must be determined whether these tips are pensionable and/or insurable, that is, whether the employer should be withholding CPP and/or EI. This depends on whether the tips are considered to have been paid by the employer. Administratively, CRA looks at whether the tips are controlled by the employer or are considered to have been paid by the customer (a direct tip). A December 16, 2015 Tax Court […]

Phone Scam Alert – CRA

Written By on May 5, 2016

Not often do accounting firms receive fraudulent phone calls from people impersonating the Canada Revenue Agency, but today we received a voicemail from a fraudulent CRA Agent, “Officer Ryan Smith”. Below is a recording of the voicemail the scammer left from the phone number 844-553-1073: We recommend that you disregard any voicemail’s from this or any other suspicious numbers. Please do not call them back. If you think it may be a legitimate voicemail, you can contact the real Canada […]

Email Scam Alert – CRA

Written By on April 21, 2016

We would like to share an email received by a taxpayer that shows exactly what a fraudulent email that claims to be from the Canada Revenue Agency looks like. Taxpayers should be extremely vigilant when they receive emails, phone calls, text message or mail that claims to be from the Canada Revenue Agency. Email and phone scams are prevalent at the moment, with email being used to offer fictitious refunds and phone calls being used to demand payment for fictitious […]

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