New CRA-CPA Framework Agreement will strengthen collaboration on priority issues, including red tape reduction, service, and compliance November 26, 2014 – Ottawa, Ontario – Canada Revenue Agency The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, today announced the signing of a first-ever agreement with Canada’s chartered professional accountant community, signaling a…
Day: 26 November 2014
2015 indexation adjustment for personal income tax, benefit amounts, and the annual dollar limit for Tax-Free Savings Accounts (TFSAs)
Each year, certain personal income tax and benefit amounts are indexed to inflation using the Consumer Price Index data as reported by Statistics Canada. Increases to tax bracket thresholds, amounts relating to non-refundable credits, and most other amounts will take effect on January 1, 2015. However, increases to the Canada child tax benefit (including the…