inTAXicating Tax Services

How the CRA views Detaxers / Freemen / Natural Citizens https://intaxicating.wordpress.com//how-the-cra-views-det/

Toronto employment agency businesses and owner sentenced for $1.6 million tax fraud. http://ow.ly/3zEN50BK1vX #CdnTax

So, this is positive, right? It means that maybe the national debt won't hit a trillion dollars under this Liberal government and it also means that maybe the CRA won't have to assess everyone and everything, while searching for the easy money. I hope this government figures out (I doubt it, but I'll say it) that taxing the "rich" won't balance the budget, but reducing spending will... Stop wasting taxpayers money!

October is here, and the Canada Revenue Agency (CRA) have been given the green light from the Federal government to collect money. As a result, Collections, Audit and Appeals are all back in business and they are looking for you! The CRA’s Collections department are officially back at work this week, able to make collections calls, send collections letters and find money. [ 337 more words ] https://intaxicating.wordpress.com//the-canada-revenue-ag/

Effective immediately and retroactive to January 1st, 2020.

Oh my, part 2. When I worked in the CRA, I was assigned to these natural persons. It’s sad to think they paid money to someone who convinced them this was legitimate. They’ve been scammed and are in the CRA’s bad books. Shame.

I wouldn't call this news, that people have to pay installments if the CRA asks them to, but I was encouraged that she checked with her kids, then the CRA to ensure it was legit. If it's still true, and you miss an installment by accident, so long as you make up that installment before the final installment is due, there won't be installment interest charged. But better that relying on that loophole to still exist, it's best to make those installments on time, and in full, by their due dates so you don't end up paying interest or penalties to the CRA.

Feel bad for him. I would have handled this much differently, however. It shouldn't have taken this long, or the press to get movement...

Hard to hold him accountable for the disaster he left the countries finances in, if he’s not there. This seems like a Liberal bait and switch, as witnessed in Ontario under the Wynne government which resulted in their loss of party status. His legacy as finance minister will be felt by Canadians high taxes, for a very long time. Sad.

Another reason I was nervous about CRA having your banking information. It’s convenient, but...

The CRA announced today that they have further extended the filing deadline for 2019 personal income tax returns until September 30th, just a few days after saying that the extended filing is posing problems for people expecting refunds or payments of credits. Point: don’t wait. File. The CRA is fully operational. Just last week they began an audit of my HST for 2019. Don’t think they’re not going to be taking actions to collect the almost trillion dollars that will be owin...g after all the COVID Benefit payments have been made. inTAXicating. Here to help!

After vowing to treat the Public Service with "respect", this Liberal government made them go 4-years without a contract. Then he forced them to issue the COVID benefits, and topped it off by telling them that a charity (WE) was the only organization that could handle the issuing of almost a billion dollars in money. Oops. Wait until the news gets out of the massive raises given to the public service covering those 4-years... The union wanted 3% typical raises are between 1-1.5% and in some cases the increase was over 2.5%. Add that to the $2500 each public servant received for the Phoenix pay system fiasco, and the debt and deficit is continuing to soar... Taxes are going up! Across the board. All level of incomes. Everywhere. Shame.

Not uncommon, sadly! I represented a business for a year-long CRA audit, and as we were finishing up, the auditor assessed the director for failing to disclose almost $3-million dollars of investment income. Knowing how the CRA operates, I asked for a few days to get to the bottom of it, and get to the bottom of it, we did. The summary from the investment firm show income of just over $3-million as reported on T5008's, but the losses were not reflected. So we took all 600 pages of transactions, and proved the $10,000 loss. CRA accepted and audit case closed.

No surprise here, that the Liberals have been getting cozy with the NDP because they feel the real threat to their reign of power is the Conservatives. Taxing the "rich" as the Libs and NDP like to say is not the answer to what woes Canada. The "rich" in their eyes are everyone above the lowest class of income earners. For everyone else, expect increases in gas prices, GST/HST, payroll taxes, Corporate taxes, and personal taxes. Except to see the de-listing of items regularly deductible (the hidden tax increase) and be weary of the CRA and their sudden aggression when it comes to assessing and collecting taxes. If CRA comes knocking, DO NOT WAIT. That's where we can help. That's what we do. Help fix problems stemming from the CRA. [email protected]

You have taken out a student loan to assist you while you go to school. Keep in mind that whether you complete school, or drop out, you still have to pay back that loan, and not doing so can have considerable consequences. In my early 20's, I had taken a part-time job working for Equifax who at that time collected student loans. [ 1,717 more word ] https://intaxicating.wordpress.com//provincial-and-federa/

What an absolute crazy year 2020 has been thus far! The tax filing deadline for individuals to file their 2019 personal income tax returns (T1) in Canada was June 1st, by 11:59pm. For Canadians who have earned self-employment income, their returns are due by June 15th, 2020. Payments for balances owing are due to the CRA by September 1st, 2020, and the CRA is currently not charging interest on exsting balances owing the them, nor interest or penalties for any late payments or filings for the time being. [ 527 more words ] https://intaxicating.wordpress.com//filed-your-2019-perso/

What is the Canada Emergency Commercial Rent Assistance Program (CECRA), and how does it work? The CECRA program will provide forgivable loans to qualifying commercial property owners to cover 50% of three (3) monthly rent payments that are payable by eligible small business tenants who are experiencing financial hardship during April, May, and June. The Program The loans will [ 688 more words ] https://intaxicating.wordpress.com//canada-emergency-comm/

The Canada Revenue Agency (CRA) have announced that they are opening up their Informant Leads (snitch) line to information regarding COVID-19 benefit program fraud. Amid reports that people are double dipping or taking the benefits when there are not entitled to, the CRA are intent on not waiting for 2021 when people file their tax returns, but are asking for Canadians to come forward and provide information regarding the Canada Emergency Response Benefit (CERB), the Canada Emergency Student Benefit (CESB), and the Canada Emergency Wage Subsidy (CEWS). [ 523 more words ] https://intaxicating.wordpress.com//cra-snitch-line-accep/

Saw this coming! What makes it worse for those who received any benefit payments and were not eligible, is that the CRA likely has their direct deposit information - meaning that payment can be taken at any time from their bank account.

Today is the last day to file your 2019 Personal Income tax returns. June 15th is the filing deadline for Canadians who have an self-employment income. Due to COVID-19, the CRA will allow Canadians to pay by September 1st, 2020. Make sure you file! IF you need assistance, or have questions, please reach out. [email protected]

The Canadian Tax Filing deadlines for regular filers and for filers with self-employment income are rapidly approaching. Due to the COVID-19 pandemic, the Canada Revenue Agency (CRA) has pushed out the tax filing deadline for regular tax filers from April 30th, 2020, to June 1st, 2020. Canadians with self-employment income were due to file by June 15th, 2020, and that date has remained the same. [ 927 more words ] https://intaxicating.wordpress.com//owing-taxes-to-the-cr/

We've been working on a list of tax deductions for Canadian professional athletes, and in doing so, have compiled this list. As of the date of posting this, this list is believed to accurate, although may or may not be inclusive of every possible deduction. In addition, there is no supporting legislation linked to these deductions - that will be coming. [ 450 more words ] https://intaxicating.wordpress.com//tax-deductions-for-ca/

It's unfortunate to read that there are some companies unable to unwilling to help Canadians during these difficult times. Charging someone, even $160, to process your CERB application is just not right. It's so incredibly easy to apply for this credit, by phone or through the CRA's My Account servce. Super easy. If you're applying for the CERB, you need it. Keep it... All of it.

Hate to say "I told you so", but I have word from the nations' capital region, that CRA Collectors are gathering the Direct Deposit information that was provided via the CERB and other programs... If you owe to the CRA, be prepared to pay, or resolve it. Do NOT wait.

On April 23rd, 2020, the C.D. Howe Institute released a report which identifies the best and worst major Canadian cities for business investment as measured by overall tax burdens. The link to the reports is here; Business Tax Burdens in Canada’s Major Cities: The 2019 Report Card. Authors Adam Found and Peter Tomlinson compared business tax burdens in 10 Canadian municipalities, the largest in each province. [ 486 more words ] https://intaxicating.wordpress.com//best-and-worst-major-/

A couple of things to know / remember if you decide a look for uncashed cheques from the CRA. 1. Government cheques never expire, which is why the CRA is holding these funds in your name (business name). 2. In order to get the payment you will need to have a CRA "My Account". In doing so, if the address on the cheque is in correct, you can change it on My Account. BUT, if you want the funds direct deposited into your bank account, remember that giving the CRA access to where you bank works both ways. They can put funds into your account, but they can also tax taxes owing from your account. If you're not comfortable with the CRA having access to your bank account (they might already have it from other activities), then maybe mail might be your best option.