The CRA recently issued revised versions of a number of forms and publications, including the T2057 and the “T4001 Employers’ Guide – Payroll Deductions and Remittances”.
“Tax tip”
“Did you know… That you should notify the Canada Revenue Agency (CRA) when directors of your corporation change?”
Correcting 85 Election Forms
The CRA’s Information Circular IC 76-19R3 sets out its position on the procedures for correcting T2057s (the form used for elections under section 85 of the Income Tax Act (Canada)). In effect, the Circular identifies two types of mistakes.
Tax-Free Savings Accounts
The CRA has taken to posting answers to frequently-asked questions about government goodies (aka Easter eggs hidden in the Income Tax Act). It has posted a useful guide to the new tax-free savings account proposed in the last budget.
Third parties
One of my very first posts on this blog dealt with demands for information about third parties. The saga continues in Canada (National Revenue) v. The Greater Montréal Real Estate Board, 2006 FC 1069, in which the Court vacated its own ex parte order requiring the Board to turn over the information requested by the CRA. The Court founds as follows:
10 Years
In a post I wrote some time ago, I argued that the 10-year limitation rule for fairness (taxpayer relief) applications is ambiguous. I also noted that the CRA believes the rule is clear, and apparently it maintains that position still,…
CRA Report
The CRA has made its annual report to Parliament, and parts of it make for interesting reading. Essentially the report amounts to the CRA’s report card on itself. The report discusses outstanding tax debts among other things. The report notes…
News releases
The CRA issued a couple of news releases yesterday. One of them warned about RSP “scams”, and the other announced that the CRA had issued a notice of suspension to ‘International Charity Association Network.’ The Department of Finance announced today…
More donation warnings
The CRA is embarking on a media campaign to warn taxpayers about fraudulent charities and donation tax shelters. The CRA is cranking up its campaign on this issue, as I have noted previously. For more background, see my posts here…
VDP news
A couple of weeks ago, the CRA issued the new version of its information circular on voluntary disclosures (IC00-1R2). See also the form for a VD “taxpayer agreement“.