Finance releases and CRA releases


FINANCE RELEASES  ( finance.html )

1.  September  5,  2017    Finance Minister  Bill  Morneau  and  Minister  of Small Business and Tourism, Bardish Chagger,  are  undertaking  a  cross country  listening tour  with respect to  the  proposed  changes  to  the CCPC taxation.

2. October  3,  2017    Late  Breaking:  As  the  consultation  period regarding taxation of private corporations comes to an end, those proving submissions were thanked. The next steps will be based on  the  following  key  principles:  keeping  taxes  low  for  small businesses;  avoiding  unnecessary  red  tape;  ensuring  that  the transfer  of  a  family  business  to  the  next  generation  is  not affected; and conducting a gender-based analysis. No specific step or timeline was provided.

CRA RELEASES  ( - tax.html )

1.  September  1,  2017    A  CRA  news  release  announced  that  an office  will  be  opened  up  in  Whitehorse,  Yukon,  to  support residents with their filing obligations.  The centre will also focus on providing  specialized  support  to  businesses  and  individuals  in context  of  northern  resident  issues  (such  as  the  northern resident deduction).

2.  August  21,  2017    CRA  announced  that  it  has  begun  making automated courtesy calls  notifying registered charities  that the  due  date  for  filing  their  completed  information  return  is approaching.  A charity’s status may be revoked if it doesn’t file.3.  August 9, 2017    A CRA news release commented on schemes that claim that taxes don’t have to be paid. Discussed were the “tax protester” and “natural person” movements.

4.  August 2017 –  CRA announced that a  webinar  information session for  employers  who  have  questions  on  the  small  business deduction will be held on October 18, 2017.