Canada Taxes

Largest Privacy Breach In CRA History Was The Work Of An Employee

CP | The Canadian Press | Posted 05.23.2017 | Canada Business

The information taken could cause ''serious injury or harm."

Taxing Legal Marijuana Could Keep The Black Market In Business

Dan Sutton | Posted 05.08.2017 | Canada Politics
Dan Sutton

There are many who ascribe the value of a sin tax to non-medical cannabis use. The argument for high taxation levels is to increase government revenues and discourage the use of an inebriating substance. Proponents of this argument might go as far as to say the more tax the better. This creates a problematic externality.

Financial Literacy In Canada Is A Farce

Justin Thouin | Posted 05.08.2017 | Canada Business
Justin Thouin

There have been government committees, discussions with the private sector and even a national strategy to teach Canadians basic personal finance. But when Statistics Canada data showed late last year that Canada's household debt is now larger than its GDP, it became painfully apparent that we're failing.

5 Ways To Use Your Tax Refund That Are Actually Really Sensible

Brian Gervais | Posted 04.27.2017 | Canada Business
Brian Gervais

As the end of April approaches, many of you have filed your taxes and experienced that moment of truth waiting for the system to calculate whether or not you'd get a refund. According to a recent TD survey, more than half of Canadians are expecting to receive a tax refund this year.

Two Out Of Five Canadians Have Not Filed Taxes Yet

H&R Block Canada | Posted 04.26.2017 | Canada Business
H&R Block Canada

For most Canadians, filing their 2016 income taxes are now a thing of the past -- way to go, guys! Surprisingly, with only a few more days to go until the May 1st tax return deadline, many still haven't prioritized tax preparation this year. What are they waiting for? What are you waiting for?

How Much Do We Tax The Middle Class?

Tim Paziuk | Posted 04.06.2017 | Canada Business
Tim Paziuk

The Liberal Government has stated they want to build a strong middle class, but who comprises the middle class? Mr. Morneau in his 2017 budget speech stated, "All Canadians must pay their fair share of taxes," but what is a "fair share"? Let's do the math and find out.

Sales Tax On Uber Says Sharing Economy Isn't Above The Law

Jerry Dias | Posted 03.30.2017 | Canada Business
Jerry Dias

The federal government has set an important precedent by applying the GST and HST to ridesharing services. It has said that such companies are not above the law. Innovation and new ways of doing things are welcome, but breaking the law is not.

Tell The Taxman If You Are Leaving The Country

Cleo Hamel | Posted 03.27.2017 | Canada Business
Cleo Hamel

From going through the immigration process to finding a place to live, to moving all of your possessions, it takes a considerable amount of work and coordination. While you may be focused on your move to a new place, you do need to make sure you notify everyone that you are leaving. This should include the taxman.

Federal Budget Brings Back Slippery, Cynical Liberal Party Of Old

Sid Ryan | Posted 03.27.2017 | Canada Politics
Sid Ryan

Thanks to the federal budget presented by Finance Minister Bill Morneau, we saw not the self-described feminist, environmentalist, progressive Justin T, but the reigning prime minister of austerity and broken promises. Clearly, "sunny ways" for the "middle class" are no longer part of his weather forecast.

Liberals Fall Short On Promise To Close Tax Loopholes, Again

Dennis Howlett | Posted 03.23.2017 | Canada Politics
Dennis Howlett

The Liberals failed to take any meaningful action on closing tax loopholes or leveling the digital playing field. They failed to deliver, again, on their election promise to end the stock options deduction that gives almost a billion dollars to some of the richest people in Canada. They failed to make the tax system simpler or fairer.

When Does It Make Sense To Do Your Own Taxes?

Cleo Hamel | Posted 03.20.2017 | Canada Business
Cleo Hamel

Taxes can be complex and most people don't want to deal with them. But unlike some tax pros that try to imply that you need a super-computer to prepare your return correctly, many people have straightforward returns that can easily be prepared yourself using a free or affordable tax software program.

Shut Down B.C. Lottery's Annual Taxpayer-Funded Spending Binge

Jordan Bateman | Posted 03.14.2017 | Canada British Columbia
Jordan Bateman

The BC Lottery Corporation's big schmooze-and-booze conference should have taxpayers, who pick up the tab, singing the blues. BCLC lost $208,642 on its 2016 New Horizons in Responsible Gaming conference. The conference attracted only 85 paid registrants.

Transferring The Family Cottage

Suzana Popovic-Montag | Posted 03.14.2017 | Canada Business
Suzana Popovic-Montag

The family cottage should invoke memories of warm weather, sunshine, and happiness. Unfortunately, for some, estate battles or family fights surrounding the cottage can tarnish these positive memories upon the death of the owner of the property.

CRA Takes Online Tax Services Down Indefinitely Amid Hacking Threat

CP | The Canadian Press | Posted 03.13.2017 | Canada Business

Services were taken down as a precaution, not because of a successful hack.

Conservatives Don't Stand A Chance In 2019

Luke Rebello | Posted 03.10.2017 | Canada Politics
Luke Rebello

After a crushing defeat in 2015, the Conservatives sought to find a leader who could do what Stephen Harper could not; bring new voters especially millennials to the party, appeal to minorities and immigrants, and present a more moderate platform than the one Harper employed for his campaign.

Canadians Deserve To Know Why KPMG Tax Dodgers Were Let Off Easy

Dennis Howlett | Posted 03.10.2017 | Canada Business
Dennis Howlett

It is outrageous enough that wealthy clients got off with a slight reprimand. KPMG has, so far, paid no price for their role. The committee let Canadians down by not recommending a full investigation into this case and laying charges against KPMG if the evidence warrants it. And Canadians are right to keep demanding one.

New Tax Incentives For Wealthiest Quebecers Benefit All In Province

Jasmin Guénette | Posted 03.03.2017 | Canada Business
Jasmin Guénette

Having competitive tax policies that encourage wealthy individuals who own and run businesses to keep those businesses here - and keep paying taxes here - is good for all Quebecers. It helps grow the pie, and when the pie gets bigger, everyone can end up earning bigger and bigger slices.

Why Bill Gates Thinks We Should Tax Robots

Brett Caron | Posted 02.20.2017 | Canada Business
Brett Caron

As the founder of Microsoft, there are few people on the planet who have helped to guide technological progression (at least in the realm of computing) as much as Gates over the course of his 42-year career. The thrust of his argument is this: if robots replace human workers whose pay would otherwise be taxed, why then should the labour of the robots not also be subject to taxation?

Everything That's Different About Your Tax Return This Year

Cleo Hamel | Posted 02.16.2017 | Canada Business
Cleo Hamel

Every year there are changes to your tax return, and the 2016 tax period is no different. Several credits have either been removed or are being phased out as a result of last year's federal budget, and there are new credits available.

Canadians Widely Oppose Proposed Internet, Wireless Tax: Poll

The Huffington Post Canada | Daniel Tencer | Posted 02.06.2017 | Canada Business

But charging a sales tax on Netflix seems fair to many.

Dear Premier Wynne: I Would Have Fired You Long Ago

Kevin O'Leary | Posted 01.23.2017 | Canada Politics
Kevin O'Leary

Thank you for your letter. I have been writing you for a while now and was getting worried you were never going to write back. I'm getting involved in the Conservative leadership race because I can't stand watching incompetent politicians destroy my country. You and Justin Trudeau are two of them. Rachel Notley would be the third.

Close Loophole Bankrolling CEO Salaries With Taxpayers' Money

Dennis Howlett | Posted 01.05.2017 | Canada Politics
Dennis Howlett

There's been a lot of outrage over a new report that shows that Canada's wealthiest CEOs are paid 193 times more than the average Canadian. But there's an even darker side to the story. Ordinary taxpayers are subsidizing those multimillion-dollar salaries, courtesy of loopholes in our tax system.

Seemingly Innocent Cash Deals Cost All Canadians

Gabe Hayos, FCPA, FCA | Posted 12.21.2016 | Canada Business
Gabe Hayos, FCPA, FCA

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.

Proving Yourself To The Taxman

Cleo Hamel | Posted 12.01.2016 | Canada Business
Cleo Hamel

No one wants to receive a brown envelope from the Canada Revenue Agency but if you file a tax return, you can expect to get some correspondence from the taxman.

What Selling Your House Can Mean For Your Next Tax Return

Caroline Battista | Posted 11.28.2016 | Canada Business
Caroline Battista

You sold your house, you survived the move and your boxes are all unpacked -- great job! That can be quite an undertaking, I know. But the work isn't quite done yet. Recently, the government announced important changes that will add an extra step to selling your home -- reporting it.