Descrease article font size Increase article font size As the 2025 tax season approaches, the Canada Revenue Agency has refreshed its website to make it easier for Canadians to sign in to their online accounts. The CRA said in a news release on Wednesday that it has “simplified its sign-in process, making it easier to…
The Canadian Chamber of Commerce is calling on the federal government to restore clarity to the upcoming tax filing season by pre-emptively nixing its proposed changes to capital gains taxes. Those measures, which would see the taxable portion of capital gains rise to two-thirds from half in some circumstances, are currently in limbo and at…
Some eligible working Canadians are set to receive advanced payments of workers benefits from the federal government this week. The Advanced Canada Workers Benefit (ACWB) will go out on Friday to individuals and families who earn a low income. The CWB is a refundable tax credit and the payments are aimed to help workers cope…
As Canadians ring in the new year with cost of living top of mind, many would likely want to get ahead on their finances for 2025. There are several changes coming into effect as early as Jan. 1 that could affect people’s pocketbooks and how they file tax returns. The official 2025 tax season kicks off…
The federal government is moving forward with plans to make automatic tax filing more widely available to Canadians, including those who are “middle class.” In the fall economic statement released on Monday, Ottawa announced several measures to make it easier for Canadian taxpayers to file their annual returns, building on efforts that are already underway….
Descrease article font size Increase article font size The Canada Revenue Agency is getting out ahead of the confusion stoked by an eleventh-hour reversal on bare trust tax reporting requirements last year. The CRA said Tuesday that it is extending an exemption to the reporting of bare trusts for the 2024 tax year. That means…
Descrease article font size Increase article font size Canadian parents are set to receive the latest child benefits from the federal government on Friday. October payments of the Canada Child Benefit (CCB) will go to eligible families who have children under the age of 18 years residing in Canada. The CCB amounts were increased in…
Canadians are set to receive goods and services tax or harmonized sales tax credits this week from the federal government — the last such payments of the year. These tax-free quarterly payments will go out to eligible Canadians who earn low and modest incomes on Friday. They are meant to help individuals and families offset…
Descrease article font size Increase article font size The Canada Revenue Agency wants to hear from Canadian taxpayers on how it can improve its services and “do better.” CRA launched public consultations on Wednesday, calling on individuals, non-professional representatives, and tax intermediaries to give feedback on the agency’s programs and services. Canadians have until Dec….
The latest child benefits are going out to Canadian parents on Tuesday after a routine increase in monthly payments last month. The Canada Child Benefit (CCB) amounts were increased in July after an annual recalculation based on a family’s net income from the previous year and inflation. The federal government said the top-up was “to…
