Interest rates for the second calendar quarter

The Canada Revenue Agency (CRA) today announced the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts the CRA owes to individuals and corporations. These rates will be in effect from April 1, 2017, to June 30, 2017. There have been no changes to the prescribed…

What you need to know about payment arrangements

Do you have a balance owing? Can’t pay in full? Work with the Canada Revenue Agency to resolve your tax debt now! If you cannot pay the full amount you owe now, you may qualify for a payment arrangement or ask for taxpayer relief. Take action by contacting the Canada Revenue Agency (CRA) right away.…

Buying or selling a home? What you should know

If you bought your home in 2016 or plan to buy a home, the Canada Revenue Agency (CRA) has information that may help you. Principal Residence Exemption Sold your principal residence in 2016? File a tax return and claim the principal residence exemption for capital gains. Starting with sales in the 2016 tax year, you…

CRA scam adapting to go after former victims a 2nd time, RCMP warns

Fraudsters promise refund for money lost to scam, but request processing fee from victims By Victoria Valido, CBC News Posted: Jan 23, 2017 5:37 PM ET Last Updated: Jan 23, 2017 6:18 PM ET The RCMP says offshore fraudsters are still trying to bilk Canadians out of their money by posing as Canada Revenue Agency officials,…

Canada Revenue Agency monitoring Facebook, Twitter posts of some Canadians

Agency is increasingly turning to cutting-edge data analysis techniques to improve service and ‘compliance’ By Elizabeth Thompson, CBC News Posted: Jan 19, 2017 5:00 AM ET Last Updated: Jan 19, 2017 5:27 AM ET The Canada Revenue Agency is monitoring the social media posts of Canadians it suspects are cheating on their taxes. (Paul Sakuma/Associated Press)…

Beware of scammers impersonating the Canada Revenue Agency

RCMP and CRA raise awareness about ongoing email and phone scams February 11, 2016   Ottawa, Ontario  Canada Revenue Agency The Royal Canadian Mounted Police (RCMP) and the Canada Revenue Agency (CRA) are warning Canadians about an ongoing scam in which taxpayers across the country receive phone calls or emails from individuals impersonating CRA employees. These people…

What to expect when the Canada Revenue Agency calls you

It is possible that the Canada Revenue Agency (CRA) will contact you by phone for legitimate tax reasons. During such phone calls, the CRA officer must validate your identity and therefore will ask for certain personal information, including your date of birth, your address, and in the case of a business some account specific details.…

The CRA Couldn't Collect $3 Billion - But It Can Still Go After You

Caroline Battista Caroline lives in North Vancouver with her husband, daughter and father. Believe it or not, even the long arm of the taxman can come up empty-handed from time to time. According to the latest federal public accounts, the Canada Revenue Agency wrote off $3.4 billion in uncollectible tax debts between January 12, 2013 and October…