The following News Release or Speech has just been posted on the Finance Canada Site.
Ottawa, June 6, 2009
2009-056
OTTAWA – June 6, 2009 – The Honourable Jim Flaherty, Minister of Finance, was pleased to welcome Tax Freedom Day today, as it occurs three days earlier in 2009 than in 2008. Calculated each year by the Fraser Institute, Tax Freedom Day marks the day to which the average Canadian had to work to pay their total tax bill. In 2009, the Fraser Institute has calculated that Tax Freedom Day is today—June 6th. In 2008, Tax Freedom Day fell on June 9th.
“Our Government’s commitment to lower taxes is long-standing, and has been backed by action in every one of our budgets,” said Minister Flaherty. “We have been working to reduce the tax burden on Canadians since the day we took office, and as a result Tax Freedom Day for the average Canadian family has steadily decreased. Even in today’s global recession, we have provided tax relief that has left more money in the hands of families and businesses across Canada, giving the economy a boost when it needs it most.”
The following is now available on the CRA Web site:
Nineteen-year-old Max moved from Calgary to study full-time at the University of Ottawa on August 15, 2008. Although he received a scholarship, he decided to get a job at the local grocery store to earn some pocket money during the school year. Max has taken the course “Responsible Citizenship and Canada’s Tax System.” This course is provided to educators by the Canada Revenue Agency (CRA).
If you are a student like Max, you must file an income tax and benefit return for 2008 since you have to pay taxes, are expecting a refund, want to apply for the goods and services tax/harmonized sales tax (GST/HST) credit, or want to carry forward or transfer the unused part of your tuition, education, and textbook amounts. By filing your income tax return by April 30, 2009, your return will be processed faster and if you are entitled to a refund, you will receive it earlier. Generally, you must use the tax and benefit package for the province or territory where you usually resided on December 31, 2008. Since Max usually resides in Calgary and is only living in Ottawa temporarily while attending school, Max will use an Alberta tax and benefit package.
In case you were unaware, interest rates went down for Q2 …
The following is now available on the CRA Web site:
News release
Ottawa, Ontario, March 4, 2009… 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 to June 30, 2009.
Victoria, British Columbia, February 16, 2009… The Honourable Jean-Pierre Blackburn, Minister of National Revenue and Minister of State (Agriculture), was in Victoria today to announce the launch of the Government of Canada advertising campaign and to inform Canadians of the steps the Government is taking to provide them with tax relief.
“Reducing taxes stimulates the economy and helps build a solid foundation for future economic growth. We want to ensure Canadians have the information they need to take advantage of the tax savings that can help put money back in their pockets during these difficult economic times,” said Minister Blackburn. “The ‘You’ve earned it. Claim it.’ advertising campaign is just one way we are able to inform Canadians of the tax credits and benefits available to them.”
The following is now available on the CRA Web site:
Tax Tip
The Canada Revenue Agency (CRA) offers a full range of tax-related services for Canadian seniors. For example, Annette had a simple tax situation in 2008 and was able to meet with a volunteer from the Community Volunteer Income Tax Program (CVITP) to assist her in preparing her income tax and benefit return. With the help of the CVITP, Annette learned about the following benefits, non-refundable tax credits, electronic services, and payment methods.
.. How thoughtful … CRA has extended this video contest to expire on April 30, 2009 - the deadline date when most Canadians have to file their income tax return on time …
The following is now available on the CRA Web site:
Did You Know …
hat you can file your T4 information return electronically from the convenience of your computer?
Be part of the paperless filing solution and eliminate the need to send paper copies of your T4 slips and summary to the Canada Revenue Agency (CRA). File online and receive electronic confirmation that your return has been received by the CRA, and save on printing and mailing costs.
The following is now available on the CRA Web site:
Did you know…
That the Canada Revenue Agency (CRA) continues to improve its suite of online tools to assist Canadian employers with their payroll obligations?
A new interactive questionnaire is available to help employers determine whether the parking they provide to employees is considered a taxable benefit. To access the questionnaire or for more information on parking as a taxable benefit, go to www.cra.gc.ca/payroll and select “P” from the drop-down menu for “Parking.”
The following News Release or Speech has just been posted on the Finance Canada Site.
Ottawa, February 2, 2009
2009-014
The Honourable Jim Flaherty, Minister of Finance, today tabled in the House of Commons a detailed Notice of Ways and Means Motion to implement Budget 2009 measures. The Notice also includes provisions referenced in Budget 2009 to implement most remaining tax measures from the February 26, 2008 budget as well as the November 27, 2008 Economic and Fiscal Statement.
“Canada’s Economic Action Plan is a comprehensive plan to stimulate economic growth, restore confidence and support Canadians and their families during a synchronized global recession,” said Minister Flaherty. “Tax reductions are an essential part of our plan. The relief proposed under Budget 2009 builds on our strong record of reducing taxes and creates a solid foundation for future economic growth, more jobs and higher living standards for Canadians.”
The following is now available on the CRA Web site:
News release
Ottawa, Ontario, February 2, 2009… The Honourable Jean-Pierre Blackburn, Minister of National Revenue and Minister John Baird, Canada’s Minister of Infrastructure, Transportation and Communities and Member of Parliament for Ottawa West - Nepean, highlighted key initiatives from Budget 2009: Canada’s Economic Action Plan that will benefit first-time home buyers.
Canada’s Economic Action Plan supports the Canadian home construction and real estate industries, with a First-Time Home Buyers’ tax credit that will provide up to $750 in tax relief to first-time home buyers; and an increase in the amount that they can withdraw from an RRSP to purchase a home from $20,000 to $25,000.
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