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Canadian tax

Canada Revenue Agency tax form with amount owing of more than $10,000

Changes coming to tax payments to Canada Revenue Agency of more than $10,000

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Starting January 1, 2024, taxpayers will be required to remit tax payments over $10,000 to the Canada Revenue Agency electronically or be assessed a penalty of $100 per payment. There are several electronic options available. Most Canadian banks provide a full range of electronic payment options to CRA, including personal tax, corporate tax, payroll, GST/HST, […]

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Understanding the new 1 per cent Underused Housing Tax

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The Underused Housing Tax (“UHT”) imposes a mandatory tax return filing obligation and potential tax liability on most owners of Canadian residential properties.  A residential property generally refers to a detached house, duplex, triplex, semi-detached house, rowhouse unit, residential condominium unit or other similar premises containing a private kitchen, bath and living area.  An owner of

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