News

Watch: Canada Revenue scammer calls. A police officer answers

Bobby Hristova Published:November 18, 2019 Updated:November 18, 2019 7:38 AM MST A CRA scammer called, but Cst. Matt Rutherford of the Victoria Police Department in British Columbia answered. The fraudster hung up moments later.Victoria Police Department / Twitter Const. Matt Rutherford of the Victoria Police Department said it was the 10th call in just a…

Canada Revenue Agency announces maximum pensionable earnings for 2020

The maximum pensionable earnings under the Canada Pension Plan (CPP) for 2020 will be $58,700—up from $57,400 in 2019. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada. Contributors who earn more than $58,700 in 2020 are not required…

What triggers a review or audit by CRA?

Last Updated: October 30 2019Article by Dale BarrettBarrett Tax Law Sometimes a taxpayer is randomly selected for an audit. It’s like winning the worst lottery in the world, and there’s nothing you can do to change that. But apart from a random tax audit, the odds of being targeted for an audit are dependent on a…

2019 Alberta Budget

Please find following the tax changes, not only in the recent budget, but all the changes since the election in May 2019: Overview Since taking office in May 2019, government has delivered on its commitment to reduce the tax burden on Albertans and Alberta businesses by repealing the carbon tax and cutting corporate tax rates…

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, 2019 to December 31, 2019. Income tax The interest rate charged on overdue…

New IRS relief for those wanting to renounce US citizenship

On September 6, 2019, the IRS announced “Relief Procedures for Certain Former Citizens”, a new amnesty program for certain U.S. citizens who have renounced, or intend to renounce, their U.S. citizenship.   Among other requirements, you must have renounced U.S. citizenship after March 18, 2010, and have never filed a U.S. Form 1040 income tax return.  …

Interest rates for the third 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 July 1, 2019 to September 30, 2019. Income tax The interest rate charged on overdue…

Canada: Alberta Court Of Appeal Confirms That Directors May Be Held Personally Liable For Injuries Sustained In A Workplace Incident

Last Updated: May 7 2019Article by Cristina WendelDentons The Alberta Court of Appeal recently revisited the question of directors’ personal liability for injuries sustained in a workplace incident. In this case, the defendant was a director of a company which was retained as a subcontractor to perform work in a new home construction. The work included…

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…