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The following is now available on the CRA Web site:

News Release:

Ottawa, Ontario, March 3, 2008… The Canada Revenue Agency (CRA) today announced the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts the CRA owes to individuals and corporations. These rates are calculated quarterly in accordance with applicable legislation and will be in effect from April 1, 2008, to June 30, 2008.

Income tax

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The following News Release or Speech has just been posted on the Finance Canada Site.

Ottawa, January 14, 2008
2008-004

The Honourable Jim Flaherty, Minister of Finance, today launched online consultations, giving all Canadians an opportunity to provide input into the development of Budget 2008. This year, the Government is asking people to focus on specific issues and questions of national significance.

“This year, we are taking a different approach to pre-budget consultations,” said Minister Flaherty. “Although our economic fundamentals are solid, we need to focus on the various risks and challenges that confront us. These include the impact of an economic slowdown in the U.S. and ongoing turmoil in financial markets, the continuing need to adjust to a higher Canadian dollar and increasing global competition, as well as the aging of the Canadian population.”

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The following was released on the Canada News Site ..

OTTAWA, ONTARIO, December 21, 2007

Human Resources and Social Development Canada today announced the latest benefit rates for the Canada Pension Plan (CPP) and Old Age Security (OAS).

Canadians already receiving CPP benefits as of December 2007 will get an increase of 2.0 percent on January 1, 2008. Canada Pension Plan benefits are adjusted once a year, in January. Increases are based on changes over a 12-month period in the Consumer Price Index, which is the cost-of-living measure used by Statistics Canada.

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