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opinion
Canadians pay the price of a baroque tax system
John Oakey
advisor news
CRA reassessing charges for late trust filing after issuing penalties in error
Tax filing season has officially kicked off as Monday marks the first day that Canadians can begin filing their income tax and benefit returns online. A Canada Revenue Agency sign in Ottawa is shownn on Monday, March 1, 2021. THE CANADIAN PRESS/Justin Tang
taxes
There’s room for good financial planning - and for error - before the June 25 capital-gains tax change
Closeup group of Asian business people meeting discuss project plan and financial results in office. Marketing strategy analysis, stock market trading, financial consultant concept.
report on business
Owe the tax man but can’t pay? Ignoring the problem will only make things worse
The last date to file returns for people working for an employer was April 30, while those freelancing or working for themselves have until June 17 to disclose their 2023 earnings.Tax forms are shown in Toronto on Thursday, April 5, 2018. THE CANADIAN PRESS/Doug Ives
opinion
How to calculate a capital gain on your cottage or investment property – and very likely save money on taxes
Rob Carrick
canada
Canada Revenue Agency to audit Saskatchewan for not paying carbon levies, Scott Moe says
A sign outside the Canada Revenue Agency is seen Monday May 10, 2021 in Ottawa. Saskatchewan Premier Scott Moe says the Canada Revenue Agency is to audit the province for not paying carbon levies on home heating. THE CANADIAN PRESS/Adrian Wyld
opinion
Fill in the blanks on automatic tax filing
The Editorial Board
politics
Trudeau says Saskatchewan’s premier shouldn’t pick fight with CRA
Prime Minister Justin Trudeau speaks during a press conference in Oakville, Ont. on Wednesday, April 24, 2024. THE CANADIAN PRESS/Cole Burston
real estate
Montreal tenant forced to pay his landlord’s taxes offers advice to other renters
David Siscoe poses for a portrait in Montreal, Canada on the 21st of April 2024. Mr. Siscoe, the owner of a gym lost a case to Revenue Canada and was ordered to pay his landlord's taxes. Credit: Roger Lemoyne/The Globe and Mail
politics
Saskatchewan residents to get carbon rebates despite province not paying levies, Trudeau says
Prime Minister Justin Trudeau speaks during an announcement about measures in budget 2024 for youth and education at Wanuskewin Heritage Park near Saskatoon on Tuesday, April 23, 2024. THE CANADIAN PRESS/Heywood Yu
opinion
Canada’s underwhelming disability benefit is a sign of a government out of ideas
André Picard
globe advisor weekly newsletter
Why clients may be feeling anxious this tax season
Young stressed mother checking her finances while her daughter is playing next to her
carrick on money
Seven ways to leverage a tax refund into big savings or gains
Rob Carrick
advisor news
Where the CRA is focusing audit activity this year
Tax filing season has officially kicked off as Monday marks the first day that Canadians can begin filing their income tax and benefit returns online. A Canada Revenue Agency sign in Ottawa is shownn on Monday, March 1, 2021. THE CANADIAN PRESS/Justin Tang
politics
Federal budget breakdown: New taxes, housing affordability and deficits for the foreseeable future
Deputy Prime Minister and Minister of Finance Chrystia Freeland holds a press conference in the media-lockup prior to tabling the Federal Budget in Ottawa on Tuesday, April 16, 2024. THE CANADIAN PRESS/Sean Kilpatrick
opinion
Foreign landlord fails to pay taxes, CRA goes after tenant
Kerry Gold
report on business
How did RBC discover its CFO had a relationship with a coworker? Take our business and investing news quiz
A Royal Bank of Canada (RBC) logo is seen on Bay Street in the heart of the financial district in Toronto, January 22, 2015.
canada
Federal government used AI in hundreds of initiatives, new research database shows
Prime Minister Justin Trudeau speaks during an announcement on innovation for economic growth in advance of the 2024 federal budget in Montreal, Sunday, April 7, 2024. Canada's federal government has used artificial intelligence in nearly 300 projects and initiatives, new research has found — including to help predict the outcome of tax cases, sort temporary visa applications and promote diversity in hiring. THE CANADIAN PRESS/Graham Hughes
canada
Morning Update: Trudeau casts doubt on CSIS intelligence about Chinese election interference
Canada's Prime Minister Justin Trudeau takes part in public hearings for an independent commission probing alleged foreign interference in Canadian elections in Ottawa, Ontario, Canada April 10, 2024. REUTERS/Blair Gable
cost of living
Costs for CRA’s bare trusts rules neared $1-billion, survey of accounting firms suggests
A sign outside the Canada Revenue Agency is seen Monday May 10, 2021 in Ottawa. The Canada Revenue Agency has now fired more than 200 people for falsely claiming a federal income benefit during the COVID-19 pandemic. THE CANADIAN PRESS/Adrian Wyld
taxes
8 tax tips for first time tax filers
A sign outside the Canada Revenue Agency is seen Monday May 10, 2021 in Ottawa. The Canada Revenue Agency has now fired more than 200 people for falsely claiming a federal income benefit during the COVID-19 pandemic. THE CANADIAN PRESS/Adrian Wyld
taxes
CRA sends postcards on underused housing tax in dubious awareness campaign
A real estate concept. A 3d house on a blackboard with dollar signs handwritten in chalk.
report on business
The Canada Revenue Agency fired 232 employees for doing what? Take our business and investing news quiz
A sign outside the Canada Revenue Agency is seen Monday May 10, 2021 in Ottawa. The Canada Revenue Agency has now fired more than 200 people for falsely claiming a federal income benefit during the COVID-19 pandemic. THE CANADIAN PRESS/Adrian Wyld
taxes
Bare trusts exempt from new reporting rules for 2023, CRA says
This tax season was supposed to be the first time in which Canadians would have to file what’s known as a T3 Trust Income Tax and Information Return for bare trusts, which were previously exempted from having to report information to the CRA.
politics
Canada Revenue Agency says 232 employees fired to date for collecting CERB during pandemic
The Canada Revenue Agency (CRA) headquarters Connaught Building is pictured in Ottawa on Aug. 17, 2020. A 33-year-old Ottawa man was scheduled to appear in court Monday after being arrested and charged with arson in connection with what police say was a fire at the building. THE CANADIAN PRESS/Sean Kilpatrick
canada
13 arrested in RCMP raids targeting ‘suspected Montreal criminal organization’
RCMP officers conduct a raid at a business in relation to a suspected drug operation Tuesday, March 26, 2024, in Montreal. THE CANADIAN PRESS/Ryan Remiorz
cost of living
New tax rules forcing many Canadians to spend hundreds on accounting, legal fees
Duane Smith who is effected by the new tax-filing requirements around underused housing and trusts at home in Calgary, Alberta March 21, 2024. Todd Korol/The Globe and Mail
report on business
Canada’s inflation falls, Gildan is up for sale and how to avoid a CRA audit: Must-read business and investing stories
The Gildan logo is seen outside their offices in Montreal, Monday, Dec. 11, 2023.Gildan Activewear Inc. raised its quarterly dividend 10 per cent as it reported a fourth-quarter profit of US$153.3 million, up from US$83.9 million a year earlier. THE CANADIAN PRESS/Christinne Muschi
report on business
Why is the Competition Bureau investigating Cineplex? Take our business and investing news quiz
Cineplex Odeon Theatre at Dundas Square in Toronto on Monday December 16, 2019. The Competition Tribunal is hearing a second day of arguments today in a case that could decide whether Cineplex can continue charging an extra fee for buying movie tickets online.
world
Brampton man charged in charitable tax fraud case involving $34 million
report on business
Atlantic Canada’s insolvent SaltWire Network granted extension to creditor protection
Newspapers owned by SaltWire Network Inc. are photographed in Halifax on Tuesday, March 12, 2024. THE CANADIAN PRESS/Darren Calabrese
globe investor
Are you incredibly lazy? These tax filing tips are for you
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canada
Morning Update: Ottawa plans to rein in number of temporary foreign residents
Marc Miller, Minister of Immigration, Refugees and Citizenship, waits to appear before the Standing Committee on Citizenship and Immigration in Ottawa, on Wednesday, March 20, 2024. Miller says for the first time, Canada will set targets for the number of new temporary resident arrivals. THE CANADIAN PRESS/Spencer Colby
cost of living
Technical issue at CRA delayed tax refunds for FHSA holders
A Canada Revenue Agency sign in Ottawa is shown on Monday, March 1, 2021.
advisor news
Eight tax tips for the self-employed
Money and financial planning, young hispanic self-employed woman checking bills and doing budget with calculator, computer and papers in fashion design studio
explainer
Federal carbon rebates are now available for some Canadians. Here’s how much you could get
Canadians living in provinces where the federal carbon tax is collected are expected to receive their first Climate Action Incentive rebate today. A man pumps gas in Montreal, Friday, March 4, 2022. THE CANADIAN PRESS/Graham Hughes