CRA Financial News

03.08 / 15:15

COST UPS Provident CRA show The CRA has clarified the rules for its new home renovation tax credit: What you need to know

Among the 2023 tax changes that took effect for this year is the brand new Multigenerational Home Renovation Tax Credit (MHRTC). This refundable credit was introduced to assist Canadians with the cost of renovating a home to create a secondary unit so that a family member who is over 65 years of age (or 18 if they qualify for the disability tax credit) can live with you. The credit is available for renovation expenses incurred in 2023 and beyond.

22.07 / 16:35

Provident Target Platform CRA track services Financial KFin Technologies: Revenues to grow at CAGR of 11%, expanding its footprint in the global financial services Industry

capital market ecosystems while adopting platform-driven product design and delivery approach to service the clients’ needs. They particularly note the growth potential in the emerging international segment, bolstered by the strategic acquisition of Hexagram’s fund accounting platform, while Indian MF RTA and issuer solutions provide a direct play on the surging Indian domestic capital markets and prospective AUM growth. Based on a projected FY25E EPS of Rs15, the recommendation is to initiate a BUY on the stock with a target price of ₹450.

21.07 / 16:33

Provident CRA Coherent performer CRA, court reject corporation's 'blame the accountant' excuse for late tax filing

It’s important to file your tax return on time, whether you’re an individual taxpayer or filing on behalf of your corporation. Failure to file your return on time can lead to late-filing penalties and arrears interest, charged at the prescribed rate for underpaid taxes, which is currently at nine per cent per annum, compounded-daily — and is not tax deductible.

20.07 / 05:17

Manufacturing Racing CRA performer track exclusive Revving for the Youth: Thrilling 2.75L sports bike launched exclusively for minors! But here's the catch…

₹2.75 lakh + GST. The primary goal of the Atom GP1 is to provide a platform for young talents to familiarize themselves with the power and track responsibilities before progressing to larger motorcycles. However, it is important to note that the Atom GP1 is exclusively intended for track use and is not street legal. Over the course of three years, CRA Motorsports painstakingly developed the Atom GP1.

14.07 / 14:45

COST UPS Provident MET CRA Court backs CRA in rejecting Montreal couple's $54,000 moving expense claim

Summer is a popular time for Canadians to move, especially for families with kids who hope to have their children begin the academic year in their new school by the beginning of September. For eligible individuals, the costs of moving can be significantly defrayed by claiming a tax deduction for your moving expenses, but only if you meet certain conditions.

13.07 / 12:11

COST UPS Fighting CRA More than 1,000 Canadians take CRA to court over CERB payments — and some win

In late 2021, Tressa Mitchell was dealing with doctor’s appointments for her ailing mother when she got a call from the Canada Revenue Agency seeking information to verify her eligibility for the Canada Emergency Response Benefit.

06.07 / 15:43

Lowe's Target Williams Fighting CRA William Watson: An excess profits tax? OK, Mr. Singh, but how about an excess wages tax, too?

NDP Leader Jagmeet Singh says Canada needs an excess profits tax to help reduce inflation. His argument seems to be that if you let grocery chains and others know they won’t profit from raising prices unfairly, they won’t raise prices unfairly. I don’t know. It doesn’t sound like typical corporate-robber-baron behaviour to me. Why won’t they start raising prices on the grounds their taxes are higher?

05.07 / 15:33

Man Action CRA CRA, ex-wife get paid before man's creditor after matrimonial home is sold

Many separated couples assume they are equal owners of their home, no matter whether both are on the title, but who actually owns the house matters if there is a separation, especially if one of the spouses has unpaid debt.

02.07 / 20:57

CRA inflation Budget Grocery prices Time What you need to know about the one-time grocery rebate coming July 5

Eligible Canadians are officially set to receive a one-time grocery rebate this Wednesday, July 5.

01.07 / 04:33

CRA CRA says 20 employees fired for claiming COVID-19 benefits while working

The Canada Revenue Agency (CRA) says 20 employees have been terminated after an internal review found they claimed COVID-19 benefits while still working at the tax authority.

21.03 / 21:45

CRA Exodus Morningstar Biden used first veto to save a 401(k) investment rule. Here's what it does

President Joe Biden used his first veto to preserve a recent U.S. Department of Labor rule about investment choice in 401(k) and other workplace retirement plans.

28.10 / 14:51

IPO Provident Digital CRA pension open Want to open Atal Pension Yojana account? Now onboard through Aadhaar eKYC

New subscribers to Atal Pension Yojana (APY) can now be onboarded by Central Recordkeeping Agencies (CRAs) through Aadhaar eKYC. This facility will be available to CRAs as an additional option, according to PFRDA.

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