Ottawa, Ontario, December 10, 2013 - The Honourable Kerry-Lynne D.
Findlay, P.C., Q.C., M.P., Minister of National Revenue, today met with
representatives from the United Way Ottawa to encourage Canadians to
take advantage of the first-time donor's super credit and to make a
difference in their communities during the holiday season by giving to a
registered Canadian charity.
“Canadians are well known for supporting those in need and the
holiday season offers the perfect opportunity to donate to a favourite
charity or cause”, said Minister Findlay. “The first-time donor's super
credit is designed to support families and communities, including
Canada's charitable sector. We want to continue to foster and promote
Canada's culture of giving and to encourage everyone to donate
generously to charities that do so much good work in our communities.”
Individuals qualify as first-time donors if neither they nor their
spouse or common-law partner has claimed the charitable donation tax
credit since 2007. Monetary donations made by first-time donors after
March 20, 2013, qualify for the first-time donor's super credit. The
credit can be claimed starting in 2013 and will continue through to
2017. Canadians must donate by December 31st to qualify for a tax credit for the 2013 tax year.
“On behalf of United Way and the more than 100 other charities that
we work with, I want to acknowledge the government for its role in
encouraging a culture of philanthropy across our country”, said Michael
Allen, President and Chief Executive Officer. "In many ways the
charitable sector and government need to work together to find creative
ways to enable donors to think both with their head and heart about
their charitable giving. The holiday season is a great time for
first-time donors to consider leveraging this new tax credit while
building a better tomorrow for all Canadians."
In 2012, federal tax assistance for charitable donations was more
than $2.9 billion. The first-time donor's super credit was introduced in
the Economic Action Plan 2013 to encourage new donors to give
generously to charities. It provides an extra 25% credit in addition to
federal and provincial charitable donation tax credits. This means that
donors can get a 40% federal credit for monetary donations of $200 or
less, and a 54% federal credit for the part of donations over $200 and
up to $1,000.
For more information on the first-time donor's super credit, go to www.cra.gc.ca/fdsc.
For more information on donating wisely, go to www.cra.gc.ca/donors.
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
Tuesday, December 10, 2013
Monday, December 9, 2013
What’s new for this tax-filing season?
Did you know?
You may be eligible for new or improved tax relief measures and services when filing your 2013 income tax and benefit return.
Important facts
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
You may be eligible for new or improved tax relief measures and services when filing your 2013 income tax and benefit return.
Important facts
- First-time donor’s super credit – This new credit for first-time donors gives an extra 25% credit for cash donations when you claim your charitable donations tax credit. This means you can get a 40% federal credit for up to $200 in donations and a 54% credit for the part of donations that is over $200 but not more than $1,000. This is in addition to the provincial credit. For more information, go to www.cra.gc.ca/fdsc.
- Family caregiver amount – If you have a dependant with an impairment in physical or mental functions, the additional amount you may be able to claim has increased to $2,040 when calculating certain non-refundable tax credits. For more information, go to www.cra.gc.ca/familycaregiver.
- Pooled registered pension plan (PRPP) – The PRPP is a new retirement savings option for individuals, including those who are self-employed. For more information, go to www.cra.gc.ca/prpp.
- Adoption expenses – The period to claim adoption expenses has been extended for adoptions finalized in 2013 and later years.
- Investment tax credit – Eligibility for the mineral exploration tax credit has been extended to flow‑through share agreements entered into before April 1, 2014.
- Tax-free savings account (TFSA) – The annual TFSA dollar limit increased to $5,500 on January 1, 2013, for the 2013 contribution year, and remains at that amount for the 2014 contribution year.
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
Tuesday, December 3, 2013
Minister Kerry-Lynne Findlay marks International Day of Persons with Disabilities
Ottawa, Ontario, December 3, 2013... The Honourable
Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue
and Member of Parliament for Delta-Richmond East, marked the
International Day of Persons with Disabilities today by reminding
Canadians that the Harper Government has introduced a number of tax
measures and programs to support persons with disabilities, as well as
opportunities to save money for the future.
“Our Government is committed to ensuring that persons with disabilities have access to all the information and help they need to receive the tax credits they are entitled to,” said Minister Findlay. “Persons with disabilities and their supporting family members can sometimes shoulder a significant financial burden, and programs such as the disability tax credit help to alleviate that burden.”
The disability tax credit (DTC) helps to reduce the amount of income tax paid by a person with a severe and prolonged impairment in physical or mental functions. This credit can also be transferred to reduce the income tax payable of a supporting family member or spouse of a person with a disability.
“We appreciate the important role that persons with disabilities play in shaping and growing our country. We will continue to strengthen our Economic Action Plan to ensure that persons with disabilities and all Canadians can contribute meaningfully to Canada’s future,” added Minister Findlay.
Once a person with a disability has applied for and is deemed eligible for the DTC, the following credits and programs may be available to them:
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
“Our Government is committed to ensuring that persons with disabilities have access to all the information and help they need to receive the tax credits they are entitled to,” said Minister Findlay. “Persons with disabilities and their supporting family members can sometimes shoulder a significant financial burden, and programs such as the disability tax credit help to alleviate that burden.”
The disability tax credit (DTC) helps to reduce the amount of income tax paid by a person with a severe and prolonged impairment in physical or mental functions. This credit can also be transferred to reduce the income tax payable of a supporting family member or spouse of a person with a disability.
“We appreciate the important role that persons with disabilities play in shaping and growing our country. We will continue to strengthen our Economic Action Plan to ensure that persons with disabilities and all Canadians can contribute meaningfully to Canada’s future,” added Minister Findlay.
Once a person with a disability has applied for and is deemed eligible for the DTC, the following credits and programs may be available to them:
- Registered disability savings plan (RDSP) – An RDSP is a savings plan to help save for the long-term financial security of a person with a disability. Grants and bonds provided by the Government of Canada can help them and their families save for the future.
- Children’s arts tax credit and children’s fitness tax credit – For each credit, families caring for a child who is eligible for the DTC and is under 18 years of age at the start of the year, can claim up to $1,000 per year, as long as a minimum of $100 was paid for registration or membership fees in eligible programs.
- Caregiver amount – The caregiver amount may be claimed by a person who maintains and lives in a dwelling together with one or more dependants. Each dependant (other than a parent or grandparent) must have been 18 years of age or older and dependent on the supporting person due to an impairment in physical or mental functions.
- Amount for infirm dependants age 18 or older – This amount may be claimed for dependants who are 18 years of age or older and dependent on a supporting person due to an impairment in physical or mental functions. The dependant does not have to live with the supporting person. The amount for infirm dependants age 18 or older and the caregiver amount cannot both be claimed for the same dependant.
- Family caregiver amount (FCA) – The FCA may be
claimed for a dependant with an impairment in physical or mental
functions, and provides an additional amount of $2,000 in calculating
each of the following tax credits:
- spouse or common-law partner amount;
- amount for an eligible dependant;
- amount for children under age 18 at the end of the year; and
- caregiver amount.
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
Friday, November 29, 2013
Taxpayer relief deadline is December 31, 2013 for requests related to 2003
Ottawa, Ontario, November 29, 2013...The Canada Revenue Agency (CRA)
reminds taxpayers and registrants (for both GST/HST and non-GST/HST
purposes) that they have until December 31, 2013, to make a taxpayer
relief request related to 2003.
The deadline applies to taxpayer relief requests for:
The various laws that the CRA administers allow for the cancellation or waiver of penalties and interest when taxpayers and registrants are unable to meet their tax obligations due to circumstances beyond their control. The CRA may also accept certain late-filed, amended, or revoked income tax elections, and issue income tax refunds or reduce income tax payable beyond the normal three-year period.
The 10-year limitation period for taxpayer relief
Taxpayer relief provisions are limited to a 10-year period. This means that the CRA may grant relief related to any tax year or reporting period that ended within 10 calendar years of the year the taxpayer relief request is made.
The CRA may also cancel or waive interest and certain penalties that accrued within 10 calendar years of the year the taxpayer relief request is made, regardless of the tax year or reporting period in which the debt originated.
If you are a taxpayer or registrant involved in a tax process
Some taxpayers and registrants may be involved in a tax process with the CRA, such as an audit, objection, or appeal, for the 2003 tax year, or a reporting period that ended in 2003. If you are involved in a tax process and are not sure if you need to make a taxpayer relief request, you should make a request before the noted deadline of December 31, 2013.
Taxpayers and registrants or their authorized representatives can make a taxpayer relief request by completing Form RC4288, Request for Taxpayer Relief.
For more information about the taxpayer relief provisions, go to www.cra.gc.ca/taxpayerrelief.
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
The deadline applies to taxpayer relief requests for:
- the 2003 tax year;
- any reporting period that ended during the 2003 calendar year; or
- any interest and certain penalties that accrued during the 2003 calendar year, for any tax year or reporting period.
The various laws that the CRA administers allow for the cancellation or waiver of penalties and interest when taxpayers and registrants are unable to meet their tax obligations due to circumstances beyond their control. The CRA may also accept certain late-filed, amended, or revoked income tax elections, and issue income tax refunds or reduce income tax payable beyond the normal three-year period.
The 10-year limitation period for taxpayer relief
Taxpayer relief provisions are limited to a 10-year period. This means that the CRA may grant relief related to any tax year or reporting period that ended within 10 calendar years of the year the taxpayer relief request is made.
The CRA may also cancel or waive interest and certain penalties that accrued within 10 calendar years of the year the taxpayer relief request is made, regardless of the tax year or reporting period in which the debt originated.
If you are a taxpayer or registrant involved in a tax process
Some taxpayers and registrants may be involved in a tax process with the CRA, such as an audit, objection, or appeal, for the 2003 tax year, or a reporting period that ended in 2003. If you are involved in a tax process and are not sure if you need to make a taxpayer relief request, you should make a request before the noted deadline of December 31, 2013.
Taxpayers and registrants or their authorized representatives can make a taxpayer relief request by completing Form RC4288, Request for Taxpayer Relief.
For more information about the taxpayer relief provisions, go to www.cra.gc.ca/taxpayerrelief.
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
Tuesday, November 26, 2013
Statement by the Honourable Kerry-Lynne D. Findlay on the release of the Auditor General's Report
Today, I am pleased that the Auditor General's audit has confirmed
that the Canada Revenue Agency (CRA) appropriately managed the
information it received in 2007 on potentially undeclared income in
offshore accounts in Liechtenstein.
The audit also recognizes that the CRA, through its management approach, gained valuable intelligence about the workings of these types of complicated offshore banking schemes to enhance its detection and audit procedures for cases of international tax evasion and aggressive tax avoidance.
The Liechtenstein list was the first such list received by the CRA, and limited information was available on the use of offshore accounts. I am pleased to report that, through dedicated efforts, the CRA has completed all 46 audits based on information from the list, and has to date assessed over $24 million in taxes owed.
The CRA accepts all recommendations made by the Auditor General to further strengthen its capacity to address non-compliance by taxpayers who have offshore holdings. Action plans to address the recommendations are currently underway.
Budget 2013 also announced new tools and legislative measures that will complement this effort, including:
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
The audit also recognizes that the CRA, through its management approach, gained valuable intelligence about the workings of these types of complicated offshore banking schemes to enhance its detection and audit procedures for cases of international tax evasion and aggressive tax avoidance.
The Liechtenstein list was the first such list received by the CRA, and limited information was available on the use of offshore accounts. I am pleased to report that, through dedicated efforts, the CRA has completed all 46 audits based on information from the list, and has to date assessed over $24 million in taxes owed.
The CRA accepts all recommendations made by the Auditor General to further strengthen its capacity to address non-compliance by taxpayers who have offshore holdings. Action plans to address the recommendations are currently underway.
Budget 2013 also announced new tools and legislative measures that will complement this effort, including:
- the new Stop International Tax Evasion Program;
- the mandatory reporting of international electronic funds transfers over $10,000 to the CRA;
- enhanced reporting requirements for Canadian taxpayers with foreign income or assets - Foreign Income Verification Statement (Form T1135);
- streamlining the judicial process in which the CRA seeks authorization to obtain information on unnamed persons from third parties such as banks; and
- extending the normal reassessment period by three years for taxpayers who have failed to report income from a specified foreign property on their annual income tax return and failed to properly file the Foreign Income Verification Statement (Form T1135).
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
Wednesday, November 13, 2013
Minister Kerry-Lynne Findlay highlights red tape reduction measures to help small businesses thrive
Delta, British Columbia, November 13, 2013 The Honourable Kerry-Lynne
D. Findlay, P.C., Q.C., M.P., Minister of National Revenue and Member
of Parliament for Delta-Richmond East, today met with local business
community leaders at a roundtable event in Delta, B.C., to highlight
measures introduced by the Harper Government to reduce red tape for
small business.
“Our government is keenly aware that small businesses are fundamental to great economies, job creation, community confidence, and supporting local economic activities,” said Minister Findlay. “We have consulted with small business owners who have provided valuable insight into what would make running their businesses easier and what improvements to our services they wanted to see. Their feedback has allowed us to implement significant and focussed red tape reduction measures. There are now fewer regulations and the cost of red tape has been reduced by nearly $20 million annually.”
The CRA’s Red Tape Reduction Action Plan lays out 12 commitments by the CRA to address the irritants businesses identified during the Red Tape Reduction Commission’s consultations in 2010, and further refined by the CRA’s own consultations in 2012.
Some highlights for 2013 are:
For opportunities to participate in further consultations, please go to the CRA’s Red Tape Reduction webpage regularly, and stay connected by subscribing to our mailing lists and joining the conversation on Twitter. The CRA’s next consultation period will be in 2014.
Minister Findlay also discussed the Harper Government’s recent announcement of an agreement-in-principle between Canada and the European Union (EU) on a comprehensive economic and trade agreement, seizing a historic opportunity to gain preferential access to the largest market in the world—a market with over 500 million consumers and a gross domestic product of $17 trillion.
The Minister noted that the Canada–EU trade agreement will generate prosperity and growth for all Canadian businesses, including small and medium-sized businesses, in every region of the country. It will help them to succeed abroad by making it easier and less costly for them to do business in the EU. The Canada–EU trade agreement will also help level the playing field in the EU, making Canadian small and medium-sized businesses more competitive, giving them a significant advantage over most third-party competitors.
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
“Our government is keenly aware that small businesses are fundamental to great economies, job creation, community confidence, and supporting local economic activities,” said Minister Findlay. “We have consulted with small business owners who have provided valuable insight into what would make running their businesses easier and what improvements to our services they wanted to see. Their feedback has allowed us to implement significant and focussed red tape reduction measures. There are now fewer regulations and the cost of red tape has been reduced by nearly $20 million annually.”
The CRA’s Red Tape Reduction Action Plan lays out 12 commitments by the CRA to address the irritants businesses identified during the Red Tape Reduction Commission’s consultations in 2010, and further refined by the CRA’s own consultations in 2012.
Some highlights for 2013 are:
- A new CRA Red Tape Reduction Action plan webpage that gives businesses up-to-date information on the CRA’s progress.
- A new online mail service for Canadian small businesses. Businesses can now communicate with the CRA online, which will help streamline their interactions with the CRA.
- The My Business Account online enquiries service. Businesses or their representatives can ask the CRA tax-related questions about their accounts online and they will receive answers online and in writing.
- A one-stop-shop webpage for business services. Businesses can now easily find information and service options relevant to their tax situation.
- Agent ID for the CRA’s business enquiries telephone service. Now, when a business owner calls the CRA, the agent who answers provides an ID at the beginning of the call. The Agent ID number provides increased accountability for business calls to the CRA, ensures a consistent experience for callers, and makes it easier for business owners to give feedback on CRA services.
For opportunities to participate in further consultations, please go to the CRA’s Red Tape Reduction webpage regularly, and stay connected by subscribing to our mailing lists and joining the conversation on Twitter. The CRA’s next consultation period will be in 2014.
Minister Findlay also discussed the Harper Government’s recent announcement of an agreement-in-principle between Canada and the European Union (EU) on a comprehensive economic and trade agreement, seizing a historic opportunity to gain preferential access to the largest market in the world—a market with over 500 million consumers and a gross domestic product of $17 trillion.
The Minister noted that the Canada–EU trade agreement will generate prosperity and growth for all Canadian businesses, including small and medium-sized businesses, in every region of the country. It will help them to succeed abroad by making it easier and less costly for them to do business in the EU. The Canada–EU trade agreement will also help level the playing field in the EU, making Canadian small and medium-sized businesses more competitive, giving them a significant advantage over most third-party competitors.
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
Tuesday, November 12, 2013
The Harper Government continues to help small businesses with red tape reduction measures
Vancouver, British Columbia, November 12, 2013 The Honourable
Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue
and Member of Parliament for Delta-Richmond East, today met with
business community leaders at a roundtable event in Vancouver to
highlight the Canada Revenue Agency’s (CRA) many red tape reduction
initiatives undertaken as part of its Red Tape Reduction Action Plan.
“Our government remains focused on the actions that have carried us through tough economic times: protecting jobs and the economy and keeping taxes low,” said Minister Findlay. “Talking to small businesses allows us to highlight significant changes we have made to reduce red tape and we are working hard to improve the CRA’s services, so that small and medium-sized businesses can more easily fulfill their tax obligations while saving time and money.”
The CRA’s Red Tape Reduction Action Plan lays out 12 commitments by the CRA to address the irritants businesses identified during the Red Tape Reduction Commission’s consultations in 2010, and further refined by the CRA’s own consultations in 2012.
Some highlights for 2013 are:
For opportunities to participate in further consultations, please go to the CRA’s Red Tape Reduction webpage regularly, and stay connected by subscribing to our mailing lists and joining the conversation on Twitter. The CRA’s next consultation period will be in 2014.
Additionally, the Harper Government continues to help create jobs across all sectors of the economy, finalizing an agreement-in-principle between Canada and the European Union (EU) on a comprehensive economic and trade agreement, seizing a historic opportunity to gain preferential access to the largest market in the world—a market with over 500 million consumers and a gross domestic product of $17 trillion.
Minister Findlay noted that the Canada–EU trade agreement will generate prosperity and growth for all Canadian businesses, including small and medium-sized businesses, in every region of the country. It will help them to succeed abroad by making it easier and less costly for them to do business in the EU. The Canada–EU trade agreement will also help level the playing field in the EU, making Canadian small and medium-sized businesses more competitive, giving them a significant advantage over most third-party competitors.
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
“Our government remains focused on the actions that have carried us through tough economic times: protecting jobs and the economy and keeping taxes low,” said Minister Findlay. “Talking to small businesses allows us to highlight significant changes we have made to reduce red tape and we are working hard to improve the CRA’s services, so that small and medium-sized businesses can more easily fulfill their tax obligations while saving time and money.”
The CRA’s Red Tape Reduction Action Plan lays out 12 commitments by the CRA to address the irritants businesses identified during the Red Tape Reduction Commission’s consultations in 2010, and further refined by the CRA’s own consultations in 2012.
Some highlights for 2013 are:
- A new CRA Red Tape Reduction Action plan webpage that gives businesses up-to-date information on the CRA’s progress.
- A new online mail service for Canadian small businesses. Businesses can now communicate with the CRA online, which will help streamline their interactions with the CRA.
- The My Business Account online enquiries service. Businesses or their representatives can ask the CRA tax-related questions about their accounts online and they will receive answers online and in writing.
- A one-stop-shop webpage for business services. Businesses can now easily find information and service options relevant to their tax situation.
- Agent ID for the CRA’s business enquiries telephone service. Now, when a business owner calls the CRA, the agent who answers provides an ID at the beginning of the call. The Agent ID number provides increased accountability for business calls to the CRA, ensures a consistent experience for callers, and makes it easier for business owners to give feedback on CRA services.
For opportunities to participate in further consultations, please go to the CRA’s Red Tape Reduction webpage regularly, and stay connected by subscribing to our mailing lists and joining the conversation on Twitter. The CRA’s next consultation period will be in 2014.
Additionally, the Harper Government continues to help create jobs across all sectors of the economy, finalizing an agreement-in-principle between Canada and the European Union (EU) on a comprehensive economic and trade agreement, seizing a historic opportunity to gain preferential access to the largest market in the world—a market with over 500 million consumers and a gross domestic product of $17 trillion.
Minister Findlay noted that the Canada–EU trade agreement will generate prosperity and growth for all Canadian businesses, including small and medium-sized businesses, in every region of the country. It will help them to succeed abroad by making it easier and less costly for them to do business in the EU. The Canada–EU trade agreement will also help level the playing field in the EU, making Canadian small and medium-sized businesses more competitive, giving them a significant advantage over most third-party competitors.
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
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