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…
