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Current News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Department of Finance Canada News

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CRA Newsroom

Canada Revenue Agency announces maximum pensionable earnings for 2021

Tue, Nov 03, 2020

The maximum pensionable earnings under the Canada Pension Plan (CPP) for 2021 will be $61,600—up from $58,700 in 2020. ...

Own a small business? During Small Business Week and throughout the year, the CRA is here to help!

Tue, Oct 20, 2020

Across Canada, employers are working hard to navigate through these uncertain times. ...

Warning: Watch out for bad-debt tax schemes!

Tue, Sep 29, 2020

The Canada Revenue Agency (CRA) is warning Canadians about getting involved in tax schemes where promoters, including some tax representatives and tax preparers, are claiming that individuals can get a tax write-off by claiming a bad-debt deduction. ...

Interest rates for the fourth calendar quarter

Fri, Sep 25, 2020

The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. ...

The Canada Revenue Agency is resuming additional activities: know when we’re contacting you and how to avoid scams

Thu, Sep 17, 2020

The Canada Revenue Agency (CRA) is gradually resuming additional activities, and it may legitimately be us calling Canadians to discuss their tax and benefit situations. ...

Extension to the payment deadline for 2019 income tax returns

Mon, Sep 14, 2020

The Canada Revenue Agency (CRA) is closely monitoring the COVID-19 situation, and is committed to supporting Canadians throughout it. ...

Beware of schemes that promise large tax deductions or tax-free income

Thu, Sep 03, 2020

The Canada Revenue Agency (CRA) is advising Canadians to steer clear of tax schemes this tax season. ...

Warning to Ontarians: Don't be fooled by the senior homeowners' property tax grant

Tue, Sep 01, 2020

The Canada Revenue Agency (CRA) is warning Canadians about getting involved in schemes where promoters, usually tax representatives or tax preparers, are claiming they can get a tax refund for taxpayers relating to the Ontario senior homeowners' property tax grant (OSHPTG). ...

Watch out for offshore leveraged insured annuity schemes

Wed, Aug 26, 2020

The Canada Revenue Agency (CRA) is warning Canadians about getting involved in tax schemes involving leveraged insured annuity plans. ...

Watch out for offshore disability insurance plan schemes

Wed, Aug 26, 2020

The Canada Revenue Agency (CRA) is warning Canadians about getting involved in tax schemes including purported offshore disability insurance plans. ...

Canada News Centre - Canada Revenue Agency

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