Update & News

On September 12, 2011
Government highlights new tax credit for volunteer firefighters
Ottawa, Ontario, September 12, 2011... The Honourable Gail Shea, Minister of National Revenue, accompanied by the Honorable John Duncan, Minister of Aboriginal Affairs and Northern Development, attended the Annual General Meeting of the Canadian Volunteer Fire Services Association (CVFSA) this weekend to promote a new tax credit for volunteer firefighters, a non-refundable tax credit passed in the 2011 federal budget.
On January 5, 2011
Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit
The GST/HST credit is a tax-free quarterly payment that helps individuals and families with low and modest incomes offset all or part of the GST or HST that they pay.
On January 5, 2011
Ontario Sales Tax Credit (OSTC)
In its March 2009 budget, the Province of Ontario announced the Ontario Sales Tax Credit program. This ongoing program is intended to provide relief to low- to middle-income Ontario residents for the sales tax they pay. The CRA will administer this program on behalf of Ontario.
On 3rd June, 2010
Canada's tax system: What's new for 2010
Ottawa, Ontario, June 3, 2010. . . Canadians who file their income tax and benefit returns electronically, or who do not file information slips and receipts with their paper-filed returns, should keep their tax records on hand in case they are contacted by the Canada Revenue Agency (CRA).

After returns are filed, the CRA verifies the income reported, as well as the credits and deductions claimed. Reviewing filed returns is essential to protecting the integrity of Canada's self-assessment tax system and to ensuring that Canadians pay their taxes. For the 2008 tax year, about 2.4 million individual returns were reviewed.

Some of the first reviews of deductions and credits are done when the returns are filed, and before taxpayers receive their notices of assessment. However, most reviews take place later in the year, as the CRA works to verify the information on an individual's return and compares it with the information provided by other parties, such as employers, spouses, or common-law partners.
On 3rd March, 2010
Canada's tax system: What's new for 2010
It may well be true that there's nothing certain in life but death and taxes, but while the essential characteristics of death don't change much from year to year, tax rules do.

This year, as Canadians brace themselves for their annual tax-filing ritual, it's time to note the major tax changes that could affect how much personal tax you'll pay.

Many of these changes stem from the federal budget brought down on Jan. 27, 2009. A few are a result of administrative moves or new policy rulings from the Canada Revenue Agency (CRA). Others are merely a result of routine indexing.

Tracking the evolution of tax rules might not be as exciting as tracking the evolution of life on earth, but for most people, there's more money to be made from the first exercise than the second.

Here, then, are the key changes to be aware of when filing your 2009 taxes:
On 21st January 2010
Harmonized Sales Tax for Ontario and British Columbia - beginning July 1, 2010
The Government of Canada is committed to developing partnership agreements with the provinces to improve the competitiveness of their tax systems and deliver services on behalf of its federal, provincial, and territorial partners.
If legislation passes as proposed, the Canada Revenue Agency would be responsible for the administration of the harmonized sales tax (HST) in Ontario and British Columbia. The HST would replace existing provincial sales taxes and the Goods and Services Tax in those provinces beginning July 1, 2010.
The Canada Revenue Agency and the provincial governments will ensure that businesses receive the information that they need, when they need it, for the transition to the federal administration of the harmonized sales tax. Please visit this web site often for the latest information and updates.