Do you have to pay postage when sending mail to a government building like Canada Revenue Agency?
02.February, 2010
yes you have to pay postage. The only people exempt from paying postage are those people in a war zone who are carrying a gun and shooting at people.
How do I apply to claim for the 5-year Tax Back Guarantee from the Canada Revenue Agency?
29.January, 2010
How do I apply to claim for the 5-year Tax Back Guarantee from the Canada Revenue Agency.
Can I apply privately or need to obtain the services of a tax professional?
You don’t need to do anything as this isn’t a credit, but rather already factored in to the personal income tax rate.
The government implemented a 5 year economic plan in which they budget to pay down the national debt by a certain amount each year, then pass on the interest savings through a reduction in the basic income tax rate, which was reduced from 16% to 15.5%.
Calling it a "tax back guarantee" and the way it was communicated is simply a gimmick. For example, Canada is currently adding to – not reducing – the debt, but the reduced income tax rate remains in effect.
is there any body out there who could answer delicate questions about the workings of revenue canada?
14.November, 2009
in the softest manner, No.
Revenue Canada Tax Refund?
11.November, 2009
Does anyone know if Revenue Canada is OK with depositing a persons´tax refund to someone else´s bank account with Direct Deposit. My gf is moving out of the country and she is still receiving tax refunds for the last 4 years. We want to have it go into my account for me to take care of some debts she has left behind.
Fill out the T1-DD form. It doesn’t specify that it has to be the person’s own account. You don’t even need to attach a void cheque if you can provide the bank, branch and account numbers on the form itself. (Also, I don’t see why they would care. They pay discounters like H&R Block…) Alternatively, you can also view, start, update or stop direct deposit information by using CRA’s My Account service.
Generally, they only say be careful when filling out the form, so you don’t go accidentally putting your tax refund (or other benefits) into some stranger’s account.
Also, "If you are changing any bank account held in Canada into which we deposit a payment, be sure to tell us about your new bank account. In addition, make sure you do not close the old bank account before we deposit the payment into the new bank account."
Yes they CAN garnish any amounts being paid to you for owing back taxes. It is most likely they WILL garnish your pension because it is coming from the government and this payment will be attached to your SIN within the government database, as are taxes.
Canadians: Have you ever or are you currently registered as a "registered Charity" with Revenue Canada?
05.November, 2009
what does it entail? thanks!
For Canadian tax purposes, generally only donations to Canadian registered charities (or other qualified donees) may be used to reduce an individual’s personal income tax.
The Canada Revenue Agency (CRA) administers a system to register charities under the Income Tax Act. As the regulator of charities, the CRA’s responsibilities include:
* processing applications for registration;
* offering technical advice on operating a charity;
* handling audit and compliance activities; and
* providing general information to the public.
Registration provides charities with exemption from income tax. Registration also authorizes charities to issue official donation receipts for income tax purposes, meaning that donors can claim gifts made to registered charities to reduce their income tax.
The CRA determines that an organization qualifies for registered status if its purposes and activities fall within the legal concept of charity (set out by the courts) and it meets the other requirements of the Income Tax Act.
Registered charities must fit into one of four categories of charitable purposes:
* the relief of poverty;
* the advancement of education;
* the advancement of religion; or
* other purposes that benefit the community in a way the courts have said are charitable.
Non-profit organizations are organizations in the community with worthwhile purposes that are not considered charitable by the courts. For example, organizations such as non-profit social clubs and advocacy groups do not generally meet the legal definition of charity and therefore do not qualify for registration.
The Charities Directorate is an organizational subdivision of the CRA. Officers in the Charities Directorate review all applications for charitable status. Charities Directorate officers can also monitor organizations that already have charitable status. In order to apply for registered status, an organization must tile Form T2050, Application to Register a Charity Under the Income Tax Act.
Once it is registered, an organization must:
* devote its resources to charity;
* continue to meet the other requirements of registration; and
* file Form T3010, Registered Charity Information Return, within six months of the organization’s year-end. (Part of the return is available to the public on request.)
If it does not meet these obligations, the charity may lose its registered status.
There is a lot of information available on the CRA website listed below. Of particular assistance is form T4063, which is a guide to completing Form T2050.
I would estimate that it will take a minimum of 6 months to register a charity but it can take significantly longer than that if you don’t have everything in order in your application or if CRA has concerns about the registration application.
How can I request the Canada Revenue Agency to stop sending statements in the mail for direct deposits?
03.November, 2009
GST/HST Tax Credit
Those forms are automatically sent out when your GST/HST credit is paid to you by cheque. It is more timely and cost efficient for the CRA to do direct deposit straight to your bank account. You will get your credit quicker, and there is no worry when there is a mail strike. If you still insist on receiving a cheque in the mail, you will always get a sign up form along with it.
What provinces are responsible for most of Canada’s mining revenue?
31.October, 2009
Saskatchewan. Potash, and more mines coming. Gold, uranium, coal. And, it’s all in my neighborhood! Yahoo!
should I report to Canada Revenue?
29.October, 2009
due to the hard time, I started to sell all my stuffs in ebay.ca, then I hunted for good deal and this became my main business.
I want to know if I need to report this to Canada Revenue, since I don’t do the proper bookkeeping.
Yes, you have to claim it. As a matter of fact ebay.ca has been asked by Revenue Canada, and they have agreed, to report Canadian Top Sellers, so they can collect taxes from them.
How do I set up a payment plan with Canada Revenue.?
27.October, 2009
You call them.
Mostly they are pretty nice about these things.
Trust me, my husband had a few tax problems himself.
You could also just write them and tell them you will pay X amount per month, but it is better to call.
Remember though if the amount is past due they will charge you interest.