Tips and gratuities

IntroductionEmployer responsibilitiesIs income from tips and gratuities part of an employee’s pensionable or insurable earnings, or both?Controlled tipsDirect tipsDeclared tips (in the province of Quebec only)More informationLegislative references Introduction This article is for employers and their employees who receive tips and gratuities. It explains how to treat tips and gratuities for purposes of the Canada…

Interest rates for the second calendar quarter

The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from April 1, 2019 to June 30, 2019. Income tax The interest rate charged on overdue…

Payments to CRA using your bank card

In addition to paying your taxes electronically by logging in to your online banking, you may be able to pay CRA by using your bank card, if you have ‘Interac Online’, ‘Visa Debit’, or ‘Mastercard Debit’ on your bank card.   If you do not have such a bank card, you can also pay CRA using…

Interest rates for the first calendar quarter

The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from January 1, 2019 to March 31, 2019. Income tax The interest rate charged on…

Government Announces the 2019 Automobile Deduction Limits and Expense Benefit Rates for Businesses

December 27, 2018 – Ottawa, Ontario – Department of Finance Canada The Department of Finance Canada today announced the income tax deduction limits and expense benefit rates that will apply in 2019 when using an automobile for business purposes. Most of the limits and rates that applied in 2018 will continue to apply in 2019,…

Interest rates for the fourth calendar quarter The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from October 1, 2018 to December 31, 2018. Income…

Interest rates for the first calendar quarter

The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from January 1, 2018, to March 31, 2018. There have been no changes to the prescribed interest rates…

Government Announces the 2018 Automobile Deduction Limits and Expense Benefit Rates for Businesses

December 22, 2017 – Ottawa, Ontario – Department of Finance Canada The Department of Finance Canada today announced the income tax deduction limits and expense benefit rates that will apply in 2018 when using an automobile for business purposes. Most of the limits and rates that applied in 2017 will continue to apply in 2018,…