TAX TIP: TAX TICKLERS

  • CRA's My Account for Individuals and My Service Canada Account are now linked such that users can easily switch between online personal tax information and other benefits (ex. EI, CPP, and OAS).

  • Employers will soon be able to distribute T4s electronically (provided certain conditions are met).

  • In September 2016, the CRA transmitted 315,160 banking records to the IRS under the information sharing requirements in the Foreign Account Tax Compliance Act (FACTA).

  • CRA monitors publicly available information, including social media posts for certain Canadians (particularly high-risk taxpayers).

  • CRA has required that Square Canada Inc. provide them with details on certain businesses using Square Readers to process sales.