How to Pay your Business Taxes Online?
Businesses can pay their Taxes to Canada Revenue Agency (CRA) via Online Banking to make it faster and easier to manage taxes. Paying Taxes digitally is beneficial as it ensures that your information is safe and easier to access online at any given time. Canada Revenue Agency (CRA) takes up to 5 business days from…
Balbir Saini
What is T4 Slip, issued by Employer?
‘T’ stands for Tax Slip and ‘4’ is number assigned by Canada Revenue Agency to classify Employment Income. T4 slip provides detail of your annual income and deductions. T4 slip is issued by your employer and sent to Canada Revenue Agency and a copy is provided to you. You have to report your employment income…
Fraud Alert – Tax Collection Calls
I would like to share very important information with you. Some people are receiving fraudulent tax collection calls. The caller pretends to be calling on behalf of Canada Revenue Agency and uses very harsh language to collect tax including threat to arrest. If you face similar situation, don’t panic and can take the following action:-…
Tax tips for Post-Secondary Students
Government has tax credits, deductions, and benefits to help students. All you have to do is file your income tax and benefit return and claim them. Here is list of what you can claim: Eligible tuition fees – An eligible tuition fee is a fee you paid to attend your post-secondary educational institution for the…
CRA to expand EFT audits in 2017, PwC warns
The next two years will see an expansion of the Canada Revenue Agency’s efforts to review international funds transfers (EFTs), which means many taxpayers can expect to see an “EFT Letter” next year, according to a recent PricewaterhouseCoopers LLP (PwC) Tax Insights brief. The CRA initiative builds on efforts by the agency that since the…
NIPAN BANSAL
What to expect after filing your Personal Tax Return
Tax Filing is always stressful. After you have filed your tax return, you may be wondering what to expect next, especially, if you are first time filer. We have compiled list of some items as follows: Notice of Assessment : Make sure you check your mail and get Notice of Assessment. If you have not…
Pay CRA Tax at Canada Post by Cash or Debit Card
You can pay your Individual tax, Benefits and credits repayments, Part XIII – non resident withholding tax, source deductions, T2 corporation tax, or GST/HST payments to the Canada Revenue Agency (CRA) in person with cash or debit card at any Canada Post outlet across Canada for a fee. To do so you will need a…
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