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The following is now available on the CRA Web site:

Did You Know …

That you can authorize your representative online if they have registered with our Represent a client service? Authorizing a representative online gives your representative instant, secure access to the information needed to help complete your income tax and benefit return and to complete certain transactions on your behalf. You can authorize a representative online 21 hours a day, 7 days a week. You can also change or revoke your representative’s authorization at any time.

All you have to do is log in to the My Account service, select Authorize my representative, and complete the four easy steps.

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Line 363: Canada Employment Amount

Under proposed legislation, employees are eligible to claim an employment amount.

Claim the lesser of:
¦ $250; and
¦ the total of the employment income you reported on line 101 and line 104 of your return.

SOURCE: CRA: T1 Guide

The following is now available on the CRA Web site:

Ottawa, Ontario, March 6, 2007… Commissioner of the Canada Revenue Agency (CRA) Michel Dorais today instructed some computer applications related to personal income tax filing to be temporarily halted. These applications include online services like Efile, Netfile, and My Account. Mr. Dorais said that he instructed that this preventative measure be taken following indications that CRA computer systems have run into infrastructure problems. In order to safeguard existing systems and to maintain the integrity of CRA’s taxpayer information holdings, Mr Dorais ordered tax filing processes halted.

“There is no indication that this situation was caused by intrusion, hacking, or computer virus,” said Mr Dorais. “The security of taxpayer information remains paramount as we strive to understand and correct this situation. Until we can announce a business recovery date, the Agency will provide daily updates to the media on the steps we are taking.”

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The following is now available on the CRA Web site:

Did you know…

That you may be able to reduce your income tax by donating to a registered charity? You can verify whether a charity is registered by searching for it in the CRA Charities Listings.

In 2006, the first $200 you donate is eligible for a federal tax credit of 15.25% of the donation amount. After the first $200 of charitable donations, the federal tax credit increases to 29% of the amount donated over $200. You may also be eligible for provincial or territorial tax credits based on the applicable provincial or territorial rates.

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From the GST Menu from Business Topics over at Canada Revenue Agency (CRA)

Ignoring Blockquotes On This Post…..

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I have received this email through my Efile Newsletter correspondence, of all places …

A new GST/HST processing system and legislative changes

The Canada Revenue Agency (CRA) is replacing its current GST/HST processing system on April 10, 2007. We are also implementing changes to legislation relating to interest and penalties, which come into effect on April 1, 2007.

A new GST/HST processing system

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The following is now available on the CRA Web site:

Did you know…

That businesses with an eligible apprentice may be able to claim the apprenticeship job creation tax credit? This is a non-refundable tax credit equal to 10% of the eligible salaries and wages payable to eligible apprentices for employment after May 1, 2006. The maximum credit is $2,000 per year for each eligible apprentice.

For more information about the credit, visit www.cra-arc.gc.ca/whatsnew/apprenticeship-e.html

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The following is now available on the CRA Web site:

Did you know…

That if you are a tradesperson you may be able to deduct your tool expenses? The newly proposed tradesperson’s tools deduction provides employed tradespersons with an annual deduction of up to $500 to help cover the cost of new tools necessary to their trade. The deduction applies to the total cost of eligible tools in excess of $1,000 acquired by an employed tradesperson after May 1, 2006.

Source: CRA

The following is now available on the CRA Web site..

Did you know…
That you can claim, as a non-refundable tax credit, medical expenses for yourself, your spouse or common-law partner, and your children born in 1989 or later? For 2006, the total expenses have to be more than 3% of your net income, or $1,884, whichever is less. You may also be able to claim medical expenses for the following persons if they depend on you for support:

you or your spouse or common-law partner’s child or grandchild who was born in 1988 or earlier; and
you or your spouse or common-law partner’s parent or certain close relatives who lived in Canada at any time in the year.

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The following is now available on the CRA Web site:

Tax Tip: The age amount has increased ..

Did you know…

That as of January 1, 2006, the age amount maximum increased from $4,066 to $5,066? If you were 65 or older on December 31, 2006, and your net income was less than $64,043, you can claim the age amount. You may also be able to transfer unused portions of the age amount to your spouse or common-law partner.

For more information, visit our Web site at www.cra.gc.ca.

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