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  • CRA Resuming Activities Suspended Through COVID-19 [Update]

    November 3, 2020

    Image by Megan Rexazin from Pixabay CRA Resuming Activities Previously  Suspended to Support Canadians Through COVID-19 Source: Canada.ca Date: November 2, 2020 The Government temporarily suspended some programs and services, including many collection and compliance activities, to support Canadians through the COVID-19 pandemic. In a commitment to resuming business activities, some of the CRA’s programs and services will return as of September...

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  • Extension of the CEWS and Introduction of CERS

    November 3, 2020

    Extension of the CEWS and Introduction of CERS Source: Canadian Federation of Independent Business Date: November 2, 2020 The Canadian Federation of Independent Business (CFIB) welcomes today’s legislation on the extension of the Canada Emergency Wage Subsidy (CEWS) and the new rent relief program, the Canada Emergency Rent Subsidy (CERS), for small businesses impacted by COVID-19. Canada Emergency Wage...

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    NCCA
  • What You Need To About CERB Benefit Ending

    October 1, 2020

    The CERB benefit is over — here’s what you need to know now Source: CBC News  Author: Kathleen Harris Date: September 29, 2020 Now that the Canada emergency response benefit (CERB) has wound down, people who are still jobless are eligible for other federal financial supports to help get them through the next phase of the pandemic. Most people...

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  • CRA: Processing Review Program Educational Letters for Taxpayers

    October 1, 2020

    Processing Review Program Educational Letters for Taxpayers Source: Canada.ca  Date: September 30, 2020 Processing Review Program Educational Letters for Taxpayers As part of an educational campaign by the Processing Review Program, educational letters have been sent to some taxpayers who may have claimed certain tax credits or deductions on their income tax return. The letters are intended to educate...

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    NCCA
  • Liberals Increase CRB Benefit to $500 a Week

    September 29, 2020

    Liberals Increase CRB Benefit to $500 a Week Source: Twitter Author: Althia Raj Date: September 24, 2020 Liberals agree to NDP demand to increase benefit from $400 to $500 a week… From today’s release: pic.twitter.com/iEYOOgfeLm — Althia Raj (@althiaraj) September 24, 2020

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  • CRA Resuming Activities Suspended Through COVID-19

    September 23, 2020

    Image by Megan Rexazin from Pixabay CRA Resuming Activities Previously  Suspended to Support Canadians Through COVID-19 Source: Canada.ca Date: September 22, 2020 The Government temporarily suspended some programs and services, including many collection and compliance activities, to support Canadians through the COVID-19 pandemic. In a commitment to resuming business activities, some of the CRA’s programs and services will return as of September...

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    NCCA
  • Canadian Residents To Receive Legit Calls From CRA

    September 21, 2020

    Image by mohamed Hassan from Pixabay Canadian residents may receive CRA phone calls this month Source: Richmond News Author: Valerie Leung Date: September 17, 2020 Since the COVID-19 pandemic, CRA has suspended many collections and compliance activities, according to a media statement from the government agency. However, the agency will be resuming these activities in phases by potentially calling residents starting...

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    NCCA
  • New T4 Reporting Requirements for 2020

    August 28, 2020

    Image by mohamed Hassan from Pixabay New T4 Reporting Requirements for 2020 Date: August 26, 2020 Source: Government of Canada For the 2020 tax year, the Canada Revenue Agency (CRA) will be introducing additional reporting for the T4 slip, Statement of Remuneration Paid. Additional reporting requirements will apply to all employers, and will help the CRA validate payments under the Canada Emergency Wage Subsidy (CEWS),...

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    NCCA
  • IRS Assesses 5 Million FBAR Penalty for Signature

    August 28, 2020

    Image by ijmaki from Pixabay Seriously? IRS Assesses US$5.1 Million FBAR Penalty for “Signature Authority” Date: August 27, 2020 Source: US-Tax.org Author: V. La Torre Jeker JD I have been keeping readers up to date with the current controversy surrounding imposition of an FBAR penalty for “willful” violations – is it limited to a $100,000 cap or can the penalty, if greater,...

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    NCCA
  • CRA Examination of Canadians Owning US Real Estate

    July 24, 2020

    CRA Launches Massive Examination of Canadians Owning US Real Estate Source: Levy Salis Author: Shlomi Steve Levy and Sergei Titorenko Date: July 23, 2020 Scope of the Examination As part of this examination, the CRA has announced that it is seeking a provider to compile information on US real estate data on transactions to which Canadians were parties, whether as...

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