KD provides tax accounting sevrices to calgarians
A lot of Canadians are struggling as a result of the COVID-19 outbreak. The Federal Government has responded with several economic measures to support individuals and businesses. Other organizations including financial institutions have stepped up as...
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You may think that you do not need to file a tax return because you do not have income in the first place. There are some instances though, that the government might request that tax return from you. Here are some of the reasons why you would have to file a return: You may have to pay tax on income you earn.The CRA sent you a request to file a return.You have decided to split pension income with your spouse or common law partner.You received Working Income Tax Benefit (WITB) advance payments last year, and you want to apply for WITB advance...
As mentioned on the previous blog, the CRA has measures in place to protect your tax information. If they suspect that your information has been compromised, they will take immediate actions to prevent any unauthorized transactions with regards to your tax information and funds.Aside from the CRA’s safeguards against fraud, you, as a taxpayer, can also help protect your tax information by taking these precautions: Do not communicate your personal information by email. As mentioned on the previous blog, the CRA will not, under any circumstances, ask for any personal information from you via email. Make sure you inform the CRA...
All taxpayers must be aware of the serious repercussions of having their personal information accessed in illegal ways. Identity theft and other criminal activities occur mostly because individuals fail to take the security of their personal information seriously. On a recent news release, the CRA announced that March is Fraud Prevention Month all across Canada and reminded Canadians “to protect their personal information and protect themselves from becoming victims of fraud.” Let’s look at what safeguards the CRA has in place to secure our taxpayer information:Personal Screening. All potential CRA employees go through security screenings before being employed.Employee awareness of their...