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Ontario Income Tax News

Life events: What you need to know when your marital status changes

Feb 7, 2014

Getting married Change your marital status – You can change your marital status online by using the Change my marital status service through My Account, or by calling 1-800-387-1193, or send us a completed Form RC65, Marital Status Change. Change of name – If you changed your name, let us know as soon as possible.…

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Life events: Death

Feb 7, 2014

Important facts Here are a few things to keep in mind when dealing with someone’s taxes after they have passed away. File a final return – A final return must always be filed after a death. The legal representative of the deceased must report all of the deceased’s income from January 1 of the year…

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2014 indexation adjustment for personal income tax, benefit amounts, and the annual dollar limit for Tax-Free Savings Accounts (TFSAs)

Dec 3, 2013

2014 indexation adjustment for personal income tax, benefit amounts, and the annual dollar limit for Tax-Free Savings Accounts (TFSAs) Each year, certain personal income tax and benefit amounts are indexed to inflation using the Consumer Price Index data as reported by Statistics Canada. Increases to tax bracket thresholds, amounts relating to non refundable credits, and…

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Harper Government announces new requirements for Canadians with offshore property and income

Jul 3, 2013

Toronto, Ontario, June 25, 2013 … The Honourable Gail Shea, Minister of National Revenue and Minister for the Atlantic Canada Opportunities Agency, today announced the launch of a strengthened Foreign Income Verification Statement (Form T1135), one of the Economic Action Plan 2013 measures to crack down on international tax evasion and aggressive tax avoidance. Minister…

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Canadians are filing online in greater numbers this year

Jul 3, 2013

Income tax return electronically this year, an increase of 17 per cent over last year. As of June 20, 2013, 20 million Canadians took advantage of our electronic filing services, which is up from 17 million this time last year. Electronic filing is quickly increasing in popularity as tax filers discover how convenient, easy, and…

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Harper Government announces new requirements for Canadians with offshore property and income

Jul 3, 2013

Toronto, Ontario, June 25, 2013 … The Honourable Gail Shea, Minister of National Revenue and Minister for the Atlantic Canada Opportunities Agency, today announced the launch of a strengthened Foreign Income Verification Statement (Form T1135), one of the Economic Action Plan 2013 measures to crack down on international tax evasion and aggressive tax avoidance. Minister…

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Harper Government launches new right to ensure Canadian taxpayers are treated fairly

Jul 3, 2013

Harper Government launches new right to ensure Canadian taxpayers are treated fairly Scarborough, Ontario, June 26, 2013… The Honourable Gail Shea, Minister of National Revenue and Minister for the Atlantic Canada Opportunities Agency, Mr. J. Paul Dubé, the Taxpayers’ Ombudsman, and Roxanne James, Member of Parliament for Scarborough Centre, today announced the addition of a…

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Harper Government’s Low-Tax Plan Provides Record Tax Relief for Canadian Families

Jul 3, 2013

The Honourable Gail Shea, Minister of National Revenue and Minister for the Atlantic Canada Opportunities Agency, today highlighted that the Children’s Fitness Tax Credit is on track to provide an estimated $120 million in tax relief to Canadian families in 2012. “Our Government is committed to keeping taxes low for hardworking Canadian families,” said Minister…

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In january 2013 CRA will send approximately 33,000 letters to taxpayers

Jan 2, 2013

The Canada Revenue Agency (CRA) will soon be conducting its fourth annual letter campaign. In January 2013, the Small and Medium Enterprises Directorate of the Compliance Programs Branch will once again send educational and intent-to-audit letters to selected groups of Canadians through the Office Audit Letter Campaign. The campaign supports the CRA’s increased emphasis on…

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The Harper Government is taking action to support Canadian businesses

Dec 6, 2012

Ottawa, Ontario, December 4, 2012… The Honourable Gail Shea, Minister of National Revenue, today highlighted many of the important steps the Harper Government is taking to ensure Canadian businesses can continue to thrive under Canada’s tax system at the Certified General Accountants (CGA) Summit on Tax Simplification. Minister Shea reiterated the Harper Government’s commitment to…

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Taxpayer relief deadline is December 31, 2012

Dec 6, 2012

Ottawa, Ontario, November 30, 2012… The Canada Revenue Agency (CRA) reminds taxpayers and all tax registrants that they have until December 31, 2012, to file requests under the taxpayer relief provisions for the 2002 tax year and any reporting period that ended during the 2002 calendar year. The taxpayer relief provisions of the Income Tax…

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The Canada Revenue Agency: protecting Canadians from gifting tax shelter schemes

Nov 5, 2012

The Canada Revenue Agency: protecting Canadians from gifting tax shelter schemes Ottawa ON, October 30, 2012 – The Canada Revenue Agency (CRA) is taking steps to better inform and protect taxpayers from gifting tax shelter schemes. This is the time of year when promoters are heavily marketing their tax schemes to Canadians. For this reason,…

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