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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
Fill in the blanks on automatic tax filing
The Editorial Board
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
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
world
Joe Biden and Jill Biden report 7% income rise in latest release of tax returns
FILE PHOTO: U.S. President Joe Biden gestures while he speaks as first lady Jill Biden stands next to him during a campaign event at Strath Haven Middle School in Wallingford, Pennsylvania, U.S, March 8, 2024. REUTERS/Evelyn Hockstein/File Photo
opinion
Foreign landlord fails to pay taxes, CRA goes after tenant
Kerry Gold
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
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
world
Brampton man charged in charitable tax fraud case involving $34 million
canada
Federal cannabis review calls for look at tax structure among 54 recommendations
Cannabis plants grow inside of Thrive Cannabis' production facility in Simcoe, Ont. Tuesday, April 13, 2021. A group convened by the federal government to study the act that legalized cannabis is recommending the country review the excise taxes it charges pot companies. THE CANADIAN PRESS/Tara Walton
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
globe investor
How to avoid a CRA audit in 2024 as complex new rules come into play
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
cost of living
The CRA takes months to process this return many Canadians will have to file this year
A digital publication is asking the Federal Court to review a decision made by the Canada Revenue Agency that prevents them from accessing incentives for journalism. The Canada Revenue Agency sign outside the National Headquarters at the Connaught Building in Ottawa is seen on Monday, March 1, 2021. THE CANADIAN PRESS/Justin Tang
carrick on money
How much are you spending to satisfy the CRA?
Rob Carrick
your practice
The tax-filing obligations on behalf of a deceased person can be complex and varied
Many tax returns need to be filed after a person passes away.
personal finance
Ottawa’s underused housing tax a bureaucratic quagmire for couples with rental property, experts say
A for rent sign outside a home in Toronto on Tuesday July 12, 2022. A report by real estate market research firm Urbanation Inc. says rents in the Greater Toronto Area are rising fast, echoing the latest numbers from online rental platforms about other major Canadian cities.THE CANADIAN PRESS/Cole Burston
report on business
Tax season officially kicks off, with most Canadians’ returns due by April 30
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 shown on Monday, March 1, 2021. THE CANADIAN PRESS/Justin Tang
advisor mutual funds
How an RRSP contribution can protect income-tested benefits and credits
An RRSP contribution can increase a client's benefits and credits entitlement.
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
report on business
CRA’s rate on overdue taxes will rise to 10 per cent, causing tax advisers to shift strategy
FILE PHOTO: Canada Revenue Agency national headquarters in Ottawa, Ontario, Canada April 19, 2023. REUTERS/Blair Gable/File Photo
advisor news
Six year-end tax planning strategies that shouldn’t be left to the last minute
Piggy bank, clock or business person writing financial info or budget for savings or investment in office. Time management, reminder blur or professional worker with notes for insurance or taxes
taxes
CRA announces last-minute extension of underused housing tax deadline to April 30
FILE PHOTO: Canada Revenue Agency national headquarters in Ottawa, Ontario, Canada April 19, 2023. REUTERS/Blair Gable/File Photo
advisor news
Five mistakes self-employed people make when filing their taxes
Given the proposed tax changes, and the fact that Dec. 31 is approaching, here is a list of tips to consider before the year’s end that could make life less taxing if you’re a business owner.
advisor news
What to consider when filing taxes yourself versus getting the help of a professional
Close-up on hanging files labelled Taxes in filing cabinet.
cost of living
Four tips for filing your taxes at the last minute
A person looks at a Canada Revenue Agency homepage in Montreal, Sunday, August 16, 2020. The federal taxpayers' watchdog says complaints to his office spiked in the hours after he went public with concerns about how the Canada Revenue Agency locked users out of their online accounts. THE CANADIAN PRESS/Graham Hughes
cost of living
Five types of people who should consider hiring an accountant for taxes
The calculators, business owners, accounting and technology, business, computer, laptop, calculator and documents in the office. / Blur Focus
report on business
The complete guide to saving money on your taxes in 2023
personal finance
New to investing? Here’s what you need to know about filing your taxes
featured reports
Stress Test transcript: Tips to make the most of your tax return this season
Introducing a new podcast from The Globe and Mail that delves into the topics impacting the wallets of Canadians between the ages of 20 and 40.
taxes
Nine of the biggest tax mistakes people make
opinion
Yes, you should pay the Canada Revenue Agency for day trading in tax-free savings accounts
David Rotfleisch