Tax Admin

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CRA’s Disability Advisory Committee submits 10 recommendations in its third annual report

CRA’s DAC 2022 annual report includes 10 recommendations for potential improvements to the disability tax credit (DTC) and its administration.

The report recognizes the progress the CRA has made to improve its services for people with disabilities, including:
– legislative changes to the eligibility for the DTC under the categories of mental functions and life-sustaining therapy
– launch of a digital DTC application to make the application process simpler for both medical practitioners and individuals
– a Navigator to support people with more complex situations in completing their applications

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New CRA campaign focuses on Personal Services Businesses

For your corporation to be considered a personal services business (PSB),
– you, as the incorporated employee performing services, or any person related to you, is a specified shareholder of your corporation
– if your corporation did not exist, you, as the incorporated employee, would be considered an employee of the hiring business receiving your services
– your corporation does not employ more than 5 full-time employees throughout the tax year
– your corporation’s income is from services performed by you, as the incorporated employee, on behalf of your corporation

PSBs are not eligible for the small business deduction, or the general tax rate reduction.

For a more detailed guideline, please click the “Learn More” button below

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Canada Revenue Agency announces maximum pensionable earnings for 2023

The maximum pensionable earnings under the Canada Pension Plan (CPP) for 2023 will be $66,600—up from $64,900 in 2022. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada. For a more detailed guideline, please click the “Learn More” button …

Canada Revenue Agency announces maximum pensionable earnings for 2023 Read More »

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Small Business Week 2022: the CRA is here year-round to help small businesses with their unique needs

During Small Business Week 2022, the Canada Revenue Agency (CRA) is celebrating small businesses and recognizing their contributions to the growth of our economy. The Agency is working hard, every day, to improve its services. They know that businesses are still facing continuing challenges since the onset of the pandemic. CRA is here to help. To …

Small Business Week 2022: the CRA is here year-round to help small businesses with their unique needs Read More »

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Support for Canadians affected by Hurricane Fiona

On September 24 and 25, 2022, Hurricane Fiona swept through Atlantic Canada and part of Quebec, causing heavy rain and high winds. Impacts included flooding, road washouts, downed trees, utility outages, and damage to coastal infrastructure. This widespread damage is having a devastating impact on many businesses and Canadians residing in these areas. The Canada Revenue Agency (CRA) …

Support for Canadians affected by Hurricane Fiona Read More »

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New benefits and increased credit payments are coming to help make life more affordable

The Government of Canada has proposed new financial support measures to make life more affordable for Canadians. The proposed Canada Dental Benefit would provide financial support for children under 12 years old if they receive dental care for which the parent has out of pocket costs and does not have access to a private dental insurance plan. …

New benefits and increased credit payments are coming to help make life more affordable Read More »

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Do you have questions about filing as a business for the first time? The CRA is here to help.

The Canada Revenue Agency (CRA) knows that it can be intimidating for new businesses to file their first tax return. That’s why we aim to help small businesses by ensuring they have the information and guidance they need to stay organized and to understand and meet their tax obligations. Here’s what you need to know …

Do you have questions about filing as a business for the first time? The CRA is here to help. Read More »

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