Category Archives: CRA News

Partnership Filings

Posted on September 18, 2010 by John Loukidelis

The following is from a news release posted to the CRA website yesterday: Starting in 2011, the requirement related to the number of partners in a partnership will be replaced with a new requirement based on financial activity. Also, the … Continue reading →

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Some Big Numbers on Charity Tax Shelters

Posted on September 15, 2010 by John Loukidelis

Today’s Globe and Mail reports that the CRA has reassessed, or soon will reassess, up to 170,000 Canadians “who have allegedly claimed $5-billion in bogus charitable donations since 2003 by using controversial tax shelter programs.”

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Prescribed rates for 2010 Q4

Posted on September 10, 2010 by John Loukidelis

The CRA was tardy about publishing the prescribed rates for 2010 Q3. It seems to have wanted to make up for it by publishing the rates for 2010 Q4 early.

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Auto Expenses

Posted on September 2, 2010 by John Loukidelis

The CRA website now includes a post on the new method for keeping track of motor vehicle expenses.

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Voluntary Disclosures

Posted on August 11, 2010 by John Loukidelis

I’ve just published a permanent page to my blog on voluntary disclosures.

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Form of notice

Posted on July 26, 2010 by John Loukidelis

In Suffolk v. The Queen, 2010 TCC 295 (an informal procedure case), the Court undertook an interesting review of the caselaw relating to the validity of notices of assessment that contain errors and the form required for a valid notice … Continue reading →

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DIY Prescribed Rate

Posted on June 25, 2010 by John Loukidelis

The Income Tax Act in numerous places requires interest to be paid, either by the taxpayer or the Minister, on certain overdue amounts. The rate applicable is computed by reference to the “prescribed rate”. The Act also provides for calculating … Continue reading →

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White collar

Posted on March 28, 2010 by John Loukidelis

The CRA is huffing and puffing to reassure Canadians “that the minority of tax preparers and promoters who try to make money at the expense of Canadian taxpayers are not getting away with it”. Granted, my experience does not represent … Continue reading →

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Audit headlines

Posted on December 14, 2009 by John Loukidelis

It’s not often that a CRA audit makes headlines: Canada Revenue probe focuses on some RBC DS clients.

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Zapper

Posted on November 9, 2009 by John Loukidelis

The CRA is attempting to hunt down store owners who install software that “suppresses” records of cash sales made through a cash register. Maybe that’s an argument for making a voluntary disclosure now. Visit the taxman before he visits you.

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