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Blogs posted during November 2017

When You Owe Money – CRA Collection Powers

tax debt

How the CRA Collects Tax Debt If you owe money to the Canada Revenue Agency (CRA) you might think that this debt is just like any other debt. Unfortunately, this is not true. Unlike other creditors, the CRA has very strong and very broad powers that it can use to…

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Canada Revenue Agency Looking Into PayPal Business Account Details

The CRA Orders PayPal to Provide Information About Business Accounts News broke recently that PayPal has been ordered by the Canada Revenue Agency (CRA) to provide information about its business account holders to the agency. PayPal received a Federal Court order requiring it to disclose to the CRA all information…

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Missed the Deadline to File a Notice of Objection? You Have Options

notice of objection

Extending Your Time to File a Notice of Objection Once you submit your income taxes to the Canada Revenue Agency (CRA) the agency will review them and then send you a Notice of Assessment. If the CRA later decides to reassess your taxes for any reason, it will send you…

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The Paradise Papers: International Income & The Voluntary Disclosure Program (VDP)

International Tax Havens and the Paradise Papers The Paradise Papers, a leak of 1.3 million records from offshore law firm Appleby and the corporate registries of 19 tax havens, show that roughly 3,300 Canadian companies, trusts, individuals, and foundations are named in the largest ever leak involving Canadians who keep…

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Employing Family Members, What You Need to Know for Tax Purposes

tax family

Taxes and Employing your Family Many small business owners employ their family members. This allows them to find employees without conducting a series of interviews, work with people they know and trust, and it also makes it possible to keep the business “in the family.” However, the Canada Revenue Agency…

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