Wealth consists not in having great possessions, but in having few wants. - Epictetus https://t.co/a7guf4VCX6
Actions on Red Tape Priorities for Small Businessesin Canadian Government News and Updates
A number of improvements to services offered by the CRA were announced based on consultations with small businesses and their tax professionals. Cutting red tape for small and medium-sized businesses is one of the Harper Government`s major goals as it will mean saving money for these businesses as well as stimulating job creation and growth.
“Our Government is listening to Canada’s small business community and we have already taken real steps to cut red tape so that small businesses across the country can continue to grow and create jobs,” said Minister Shea. “Improved technology put in place by our Government has made it much easier for small businesses to manage their taxes and we are committed to continuing that progress. With this latest suite of improvements, business owners and their tax professionals will have greater access to the online services they are asking for,” according to a recent statement by the CRA.
After the consultations, the CRA is making changes to improve their services for businesses. These include:
- Allow businesses to submit payroll enquiries through the My Business Account enquiries service;
- Allow businesses to update business banking and direct deposit information online;
- Improve access to My Business Account by reducing the processing time for a Business Consent Form from 14 days to only 5 days; and
- Increase outreach to businesses to ensure they are aware of less burdensome filing frequency options (for example, filing quarterly rather than monthly).
The CRA met with over 140 small business owners, accountants and bookkeepers for their feedback on five themes including reporting obligations and online services.
Launched in October 2012, the Harper Government’s Red Tape Reduction Action Plan introduced systemic reforms to the federal regulatory system to limit regulatory burden and make it more transparent, accountable, and predictable. The plans include 90 changes to eliminate unnecessary paperwork and introduce time-saving measures.
Source: CRA website, www.cra.gc.ca