Canada Emergency Response Benefit (CERB) and the CRA Tax Implications – Here’s What You Need to Know
There is no denying that the Canada Emergency Response Benefit (CERB) helped many Canadians – over 8.5 million individuals to be specific. To get the money into the hands of the Canadians who needed it, the government processed applications as swiftly as possible. To do this in record time, the government relied very heavily on […]
COVID-19 Income and Debt Help for Canadians
The past two weeks have been a non-stop train of breaking news as Canada copes with the novel coronavirus, COVID-19. This public health pandemic is affecting many across the country — both medically and financially. In order to “flatten the curve” and reduce the risk of infection, many businesses and public services have been suspended, […]
2019 Tax Deadline Around the Corner – Let’s Review Current Penalties and Interest
The Canada Revenue Agency (CRA) tax deadline for the 2019 tax year is coming up quickly. Are you prepared? The deadline to file your 2019 income tax is April 30, 2020. For self-employed tax filers, the deadline is June 15, 2020, however, it’s better to file by April 30 as you will be charged interest […]
CRA Auditing PayPal Business Recipients — What to Do If They Have Come After You
Business owners, have you received income using PayPal? If so, the Canada Revenue Agency (CRA) may be contacting you for an audit. In November of 2017, PayPal was served with a Federal Court of Canada order to submit specific information to the CRA about PayPal Business account holders. PayPal had to give the CRA account […]