Subscribe to this list via RSS Blog posts tagged in Canada
The CRA has recently announced that it is publishing a series of studies on Canada’s tax gap. Tax gap is the term used to describe the difference between the government’s potential tax revenue and the actual taxes collected.To examine the different parts of the gap, the CRA conducted four studies: 1. A conceptual study on tax gap estimation (June 2016)2. An estimate of the tax gap for GST/HST (June 2016)3. A report on domestic personal income tax compliance in Canada (June 2017)4. International Tax Gap and Compliance Results for the Federal Personal Income Tax System (July 2018)The fourth study, the latest...
Continue reading
Rate this blog entry:
0
Last January 26th, 2018, the Department of Finance ended its public consultations for Budget 2018. During the public consultations, all Canadians were invited to provide their ideas and suggestions on how the Government can go about setting up the budget for the benefit of all Canadian families and individuals. This annual pre-budget consultations, according to the Department of Finance, reached more than 1.5 million Canadians and nearly 38,000 submissions and ideas were received. On February 13th, the Department of Finance, through Minister Morneau, announced in the House of Commons that the Government will table its federal budget on February 27, 2018.In...
Continue reading
Rate this blog entry:
0
On December 14th, 2017, the Department of Finance announced that the remaining tax measures from Budget 2017, Bill C-63, received Royal Assent. These are some of the income tax measures included in Bill C-63. • Closing loopholes surrounding the capital gains exemption on the sale of a principal residence;• Providing additional authority for certain tax purposes to nurse practitioners;• Ensuring that qualifying farmers and fishers selling to agricultural and fisheries cooperatives are eligible for the small business deduction;• Eliminating the use of billed-basis accounting by designated professionals;• Eliminating the ability for small oil and gas companies to reclassify up to $1...
Continue reading
Rate this blog entry:
0
Are you a frequent supporter of Canadian charities? If yes, here are some of the most frequently asked questions on giving to charities. • How can you check if a charity is registered? Find out the charity’s registration number and confirm its status in the CRA’s List of Charities: https://www.canada.ca/en/revenue-agency/services/charities-giving/charities-listings.html. You can also call the Charities Directorate at 1-800-267-2384. • Can a charity return a donation? Generally, no. At law, a gift transfers ownership of the money or other gifted property from the donor to the charity. Once transfer is made, the charity is obliged to use the gift in carrying...
Continue reading
Rate this blog entry:
0
Subscribe

If you have a question about one of our products or services, please do not hesitate to contact us!
Please Enter Your Name
Please Enter A Valid Email
Please Enter Your Phone Number
Please select your preferred method of contact.
Refresh Please letters shown!

KD Professional Services
Monday-Friday 9am- 5pm
102, 221 18th Street SE
Calgary, AB, T2E 6J5

403-219-0602
403-219-0603

Read our Tweets