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Self-employed Canadians, you are truly a (work) force to be reckoned with and, as such, should also be reminded that your tax return deadline is just around the corner, on June 15th. That means that if you carried on a business in 2016, you should file by that date to avoid a late-filing penalty.
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The underground economy is toxic. It costs jobs, makes it harder for above-board businesses to compete and ruins faith in our tax system. It can also leave you holding the bag when you get sub-par results or someone gets burned in a cash deal. But there is something we can all do, and it's simple.
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There has been some debate in Canada recently over the issue of sales taxes when making purchases on the Internet from abroad. Right now, when Canadians buy products and services, such as clothes or movie streaming subscriptions, from online vendors located abroad, it is the consumers who are responsible for declaring sales taxes.
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Believe it or not, even the long arm of the taxman can come up empty-handed from time to time. According to the latest federal public accounts, the Canada Revenue Agency wrote off $3.4 billion in uncollectible tax debts from 2013 to 2014.
Governments must make interest payments on their debt similar to families who pay interest on borrowing for mortgages, vehicles, or credit card spending. These interest payments leave fewer resources available for important priorities such as tax relief and spending on public programs such as health care, education, and social services.
OTTAWA - Canada's budget watchdog says Canadians are paying Ottawa about $30 billion less this year — or a little less than $1,000 per person — due to tax changes introduced in the past decade.The Par...
Like other Canadians, you work hard for your money. Faced with essential expenses such as food, clothing, and shelter, your household budget may feel squeezed. But what if we told you, your family's biggest expense is taxes?
When Manitoba's NDP government delivered its budget back in April, Finance Minister Stan Struthers ruffled some feathers with his announcement of an increase in the provincial sales tax (PST) to eight...
In 2013, Canadians worked until June 10, which happens to be Tax Freedom Day, to pay all their taxes.
Tax Freedom Day is an easy-to-understand measure of the total tax burden imposed on Canadian families by federal, provincial, and local governments. But the true tax burden doesn't end with the revenues that governments collect.
OTTAWA - The Harper government says an internal review of how much GST Canada's banks and other financial institutions should pay will not be a tax grab."The expectation is that any changes made as a...
OTTAWA - Canada's insurance industry faces a $1-billion GST bill at the end of this month, thanks to a federal tax move critics say smacks of a 'banana republic'.The massive tax hit applies to some fi...
OTTAWA - Liberal leadership hopeful Martha Hall Findlay called Thursday for an eventual increase in the GST, warning against letting her party's policies be dictated by fear of the Conservative attack...
OTTAWA - The Canada Revenue Agency has uncovered millions of dollars worth of missing taxes by doing a simple credit check that the banks have been using for years.The project found almost $3 million...
Once upon a time, Prime Minister Stephen Harper and the Conservatives understood Canadians' concerns on gas tax. They said it was "time to axe the tax on the tax." Of course, the prime minister was in opposition then, but the idea must be implemented today in B.C. if we want to see lower gas prices.