Commentary

  • ON – Province issues updated Employer Health Tax bulletins

    The Ontario Ministry of Revenue has issued three updated bulletins dealing with the province’s Employer Health Tax. The first, available at http://www.rev.gov.on.ca/en/bulletins/eht/0903.html, outlines the types of employers to which the annual filing requirement and the instalment payment requirement apply, the second, which can be found at http://www.rev.gov.on.ca/en/bulletins/eht/0298.html, deals with the application of the tax exemption […]

  • ON – Province issues sales tax credit benefit for second quarter of 2011

    The Ontario government has issued sales tax benefit cheques to eligible taxpayers for the second quarter of 2011. In order to receive the quarterly benefit of up to $65.00, eligible taxpayers must have filed a 2009 tax return. A listing of the dates on which this and other provincial tax benefits will be paid throughout […]

  • ON – Updated bulletins issued on application of HST

    The Canada Revenue Agency (CRA) has issued two new bulletins dealing with the application of harmonized sales tax in the province. The first (GI-098), which outlines the application of the tax to resales of new housing, is available at http://www.cra-arc.gc.ca/E/pub/gi/gi-098/gi-098-e.pdf, and the second (GI-074), which deals with HST and prepaid funeral, cemetery, and interment arrangements, […]

  • ON – Province posts information on alternate service delivery options during postal strike

    The government of Ontario has posted detailed information on its Web site at http://www.mgs.gov.on.ca/en/Spotlight/STDPROD_086438.html?utm_source=OntarioCA&utm_medium=adbanner&utm_campaign=BigBox%2Bpostal%2Bstrike, outlining how government services (including the issuance of cheques by the provincial government) will be handled during the postal strike, and how taxpayers may continue to fulfill their tax filing and payment obligations. Some federally administered benefits will continue to be […]

  • ON – New photo identification card to be made available to Ontario residents

    Around the end of July, the province will be implementing a new photo identification card program for provincial residents aged 16 and older. Ontarioresidents are frequently asked to provide photo identification in connection with government, banking or other business transactions. While anOntariodriver’s licence is often used to provide such identification, that option is not available […]

  • CRA issues updated guide to tax-free savings accounts

    The Canada Revenue Agency (CRA) has updated its guide RC4466, outlining the rules applicable to tax-free savings accounts. The updated guide, which is available only in electronic format, can be found on the CRA Web site at http://www.cra-arc.gc.ca/E/pub/tg/rc4466/rc4466-10e.pdf.

  • Inflation rate at 2% in November

    The most recent issue of Statistics Canada’s Consumer Price Index indicates that the overall inflation rate for the month of November stood at 2.0% on a year-over-year basis, a 0.4% decline from the rate posted for October.   The StatsCan report indicated that the major contributor to the lower inflation rate was a slowdown in […]

  • CRA issues updated guide on students and income tax

    The Canada Revenue Agency (CRA) publishes a comprehensive guide for post-secondary students on their income tax obligations and benefits.  The guide, which outlines both tax measures specific to students and others of more general application, was recently updated by the CRA, and the updated version can be found on the CRA Web site at http://www.cra-arc.gc.ca/E/pub/tg/p105/p105-10e.pdf.

  • Prescribed interest rates for 2011

    The Canada Revenue Agency (CRA) has announced the interest rates that will apply to amounts owed to and by the federal government for the first quarter of 2011, as well as the rates that will apply for the purpose of calculating employee and shareholder taxable benefits. Debit rate            Credit Rate             Benefits January 1 – March 31, 2010                5%                      […]

  • 2011 automobile deduction limits

    The Department of Finance has released the automobile deduction limits and expense benefit rates which will apply for the 2011 taxation year. The rates, which are unchanged from 2010, are as follows:   the ceiling on the cost of passenger vehicles for capital cost allowance purposes remains at $30,000:   the maximum allowable interest deduction […]