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CRA Hones in on Private Contractors Who Shop at Home Depot

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As part of its crackdown on unreported income, Canada Revenue Agency is targeting suspected under-the-table home improvement contractors who buy their materials from Home Depot. Back in July, the CRA obtained a Federal Court order that compels Home Depot Canada to give the CRA a list of their customers, along…

Video Tax News is Offering Audit Shield Clients Special Pricing on Their Newest Online 1-hour Webinar “Practicing Tax Ethically.”

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What if my client lies to CRA? …or to me? How do I deal with conflicting taxpayer interests? What about newly discovered errors from the past? Have these questions ever crossed your mind? This 1-hour pre-recorded webinar examines the common conflicts, ethical dilemmas, business pressures and other related challenges that…

Companies May Be Forced to Give Canadian Public Accountability Board Access to Information

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Audit inspections may soon have an improved ability to carry out comprehensive investigations. The Canadian Securities Administrators have proposed changes that would allow better access to audit workers, especially under foreign jurisdictions. According to a recent statement, “Reporting issuers will be required to direct audit firms who are not subjected…

Two Canadian Men Scammed Out of a Combined $25,000

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Criminals impersonating Canada Revenue Agency officials have been scamming people by approaching them with fraudulent complaints, which they then offer to resolve via Bitcoin. Canadian Police have sent out warnings to citizens, urging caution if they are confronted over related issues. Up to CAD $25,000 has been leeched off of…

Canada Revenue Agency is Investigating Failed Cryptocurrency Exchange QuadrigaCX

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The Canada Revenue Agency is auditing QuadrigaCX’s corporate tax returns, according to the bankruptcy trustee overseeing its case. The CRA sent a letter to bankruptcy trustee Ernst & Young announcing that it will be reviewing QuadrigaCX’s tax corporate tax returns ranging from 2015 to 2018. QuadrigaCX was Canada’s largest cryptocurrency…

Bank of Canada Holds Fast on 1.75% Interest Rate

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As predicted by a majority of economists last month, the Bank of Canada did not change interest rates, even though the mounting tensions in the US-China trade war affected the global economy more than it predicted in July. For a seventh meeting in row, the central bank’s policy makers decided…

Bank of Canada May Not Change Interest Rates Despite Mounting Signs of Global Recession

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Even though other central banks around the world are already easing interest rates in response to mounting worries of a global recession, a recent Bloomberg survey shows that a majority of Canadian economists believe the Bank of Canada will maintain its 1.75% rate until the end of 2020. Despite ongoing…

Tech Boom Could Lead To a Divide Between ‘Have’ and ‘Have Not’ Canadian Cities

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Although Canadian cities presently have far more equal job markets than their American counterparts, a recent report from TD Economics suggests that the booming tech industry in select cities could eventually lead to a two-tired job market. The report notes that there are many more job opportunities in cities with…

Canada to Rethink Tax Policies After Losing Billions in Corporate Tax Revenue

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Canada plans to bolster its corporate tax collection effectiveness with increased funds for government auditors and greater corporate transparency enforcement, in the wake of two recent reports detailing how the Canada Revenue Agency (CRA) loses billions in tax revenue every year. Last month, the CRA published the Tax Gap and…

Saving Money Means Forming the Right Habits and Priorities

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Monthly bills like car payments, rent, groceries, mortgages, and credit cards debt can leave very little left over for savings and investment. Even for Canadians with relatively high incomes, it can seem like there are always new expenses popping up that make planning and saving for the future nearly impossible.…

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CRA Hones in on Private Contractors Who Shop at Home Depot

Video Tax News is Offering Audit Shield Clients Special Pricing on Their Newest Online 1-hour Webinar “Practicing Tax Ethically.”

Companies May Be Forced to Give Canadian Public Accountability Board Access to Information

Two Canadian Men Scammed Out of a Combined $25,000

Canada Revenue Agency is Investigating Failed Cryptocurrency Exchange QuadrigaCX

Bank of Canada Holds Fast on 1.75% Interest Rate

Bank of Canada May Not Change Interest Rates Despite Mounting Signs of Global Recession

Tech Boom Could Lead To a Divide Between ‘Have’ and ‘Have Not’ Canadian Cities

Canada to Rethink Tax Policies After Losing Billions in Corporate Tax Revenue

Saving Money Means Forming the Right Habits and Priorities

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