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CRA

Why Some Wealthy Canadians Look At Tax Shelters

Many high income Canadians use tax planning tools beyond RRSPs. Donation based programs and other tax shelters can reduce tax in heavy income years, help with departure tax planning, and support charitable goals. Here is a simple breakdown of why people explore them and what to consider.

Don’t Play Around with Payroll and the CRA

If you own or manage a business in Canada, you already know payroll is not optional. You pay your employees, withhold CPP, EI and income tax, and you must remit it to the Canada Revenue Agency (CRA). It seems straightforward until it is not. Payroll deductions are considered trust funds. This is not your money. You are holding it in trust for the government. If you fail to remit it correctly or on time, the CRA treats it very seriously. In my eleven years at the CRA, I dealt with payroll audits, payroll compliance, and collections across thousands of businesses. I can tell you this: Payroll is the number one area you cannot afford to get wrong. What Happens If You Miss or Delay Payroll Remittances When you deduct money from your employees’ pay, you are required to send it to the CRA by the due date. Miss the deadline and here is what can happen. Penalties If the CRA determines the late or missing remittance was done knowingly or… Don’t Play Around with Payroll and the CRA

The inTAXicating Debt Diagnosis Program – Your First Step Toward CRA Tax Debt Relief in Canada

Get clarity on your CRA tax debt with the inTAXicating Debt Diagnosis Program. Understand what you owe, explore solutions like taxpayer relief and payment arrangements, and take control of your financial future. Learn just how different we are, and the reasons why. Are You Feeling the Weight of CRA Tax Debt? If you’ve received a CRA tax debt notice, phone call or visit, or are losing sleep over a growing balance or unfiled returns, you’re not alone. Hundreds of thousands of Canadians face interest charges, penalties, and stressful collection calls every year. The truth is, the worst thing you can do is ignore it because CRA debts don’t go away on their own. That’s why we created the inTAXicating Debt Diagnosis Program, a fast, confidential way to: What Is the inTAXicating Debt Diagnosis Program? Think of it like visiting a doctor for a checkup, but for your taxes. Before we can “treat” the problem, we have to fully diagnose it. We will: Why This Program Works Many tax firms try… The inTAXicating Debt Diagnosis Program – Your First Step Toward CRA Tax Debt Relief in Canada