CRA sets new rules for reporting tax planning strategies which target advisors by expanding mandatory reporting rules. The Trudeau governments position is clear, the Income Tax Act lacks “timely, comprehensive and relevant information on aggressive tax planning strategies.” Before Trudeau’s revision to the ITA, avoidance transactions had to be reported to the CRA when two […]
Tag: CRA
Tax Facts 2021
Surely tax facts 2021 are important. There are times when you need tax information quickly. Well, look no further than the Ultimate Investor. The hardest thing in the world to understand is the income tax. – Albert Einstein Maximum RRSP Contribution – $27,830 TFSA Limit – $6,000 TFSA Contribution Lifetime Maximum – $75,500 (as of […]
Trudeau Begins Tax Crackdown
Justin Trudeau begins tax crackdown and his Liberal government has launched a massive investigation into Canadian tax filings. CRA’s is going after employers who have been using the Canadian Emergency Wage Subsidy program. This goal of the program was to help business owners pay employee wages during the pandemic. Although this may be true, Trudeau […]
