When CRA sends you a letter

It’s that time of year again, when the letters from Canada Revenue Agency come out to verify deductions made on those tax returns that were filed last spring.  We got two this week, my son Kevan got one on Tuesday auditing his rent receipts.  Today’s mail brings one for my husband Brook, auditing our charitable … Read more

CRA Spam phone calls threatening lawsuits

Beware of new telephone scams Ottawa, Ontario, June 10, 2015… The Canada Revenue Agency (CRA) is noting an increase in telephone scams where the caller claims to be from the CRA but is not, and is asking Canadians to beware—these calls are fraudulent and could result in identity and financial theft. Some recent telephone scams … Read more

Computer trouble at Canada Revenue Agency

Online access and efiling capabilities have been temporary suspended at Canada Revenue Agency due to internet security concerns.  For updates check the CRA home page at http://www.cra-arc.gc.ca/menu-e.html Here is the current status direct from the CRA home page: Statement from the Canada Revenue Agency The Canada Revenue Agency (CRA) places first priority on ensuring the … Read more

Tuesday Tax tips – First-time donor’s super credit

The first in a series of weekly blog posts till the end of April with some tax items you may not be aware of. This week the new First-time donor’s super credit (FDSC): This is a temporary tax credit for new charitable donor’s who have never claimed a charitable donation or who have not claimed a … Read more

Don’t miss these upcoming deadlines!!

For individuals, March 3, 2014 is the deadline for contributing to an RRSP for the 2013 tax year.  You can find out how much contribution room you have by: – checking your 2012 T1 Personal Return Notice of Assessment -accessing My Account on the CRA website http://www.cra-arc.gc.ca/esrvc-srvce/tx/ndvdls/myccnt/menu-eng.html – or by calling TIPS (Tax Information Phone … Read more

Tax Refund Scams

One of my clients forwarded me an email from Canada Revenue Agency this morning.  It said she was entitled to a refund.  If you get one of these emails, delete it immediately.  Do not click where it says to access the refund form. Canada Revenue Agency never corresponds with taxpayers by email. Here is what … Read more

Paying for University or College

With my son Brett ready to graduate from Ryerson and Kevan off to Queen’s in the fall, I’m frequently asked by clients how much it costs, and what is the best way to save.  I tell them the first step is RESP’s (Registered Education Savings Plans).  You need to start as soon as you child … Read more

Crunch Time – Have you filed yet?

April 30th is approaching in just over a week (or 9 days if you are counting like I am!).  Have you filed your income tax return yet? Not sure if you have to file, check out this link on the CRA website for reasons why you should file: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/flng-blgtns/menu-eng.html What happens if you don’t file: – if … Read more