Monthly Archives: July 2018

Tools for Individuals and Businesses: CRA MOBILE PHONE APPS

CRA provides a number of mobile phone apps that taxpayers (individuals, corporations, etc.) can use to assist with their tax obligations.CRA BizApp – An app for small businesses owners to view and pay outstanding balances, view account transactions, view expected GST/HST returns, and view the status of filed GST/HST and corporate income tax returns.CRA Business… Read more »

Risks of Tax Non-Compliance: U.S. CITIZENS

Commencing January 1, 2016, the U.S. State Department was able to deny or revoke passports to U.S. citizens having a “seriously delinquent tax debt” or no Social Security Number associated with their passport. A “seriously delinquent tax debt” is one where the taxpayer owed more than $51,000, after January 1, 2018 (indexed going forward), in… Read more »

Reporting Obligations for Subcontractors: CONSTRUCTION ACTIVITIES

A July 17, 2017 Technical Interpretation examined the conditions which would require the filing of a T5018, Statement of Contract Payments.Where a person or partnership primarily derives their business income from construction activities for a reporting period, a T5018 should be filed for any subcontractor payment or credit made relating to goods or services received… Read more »

GST/HST Claim: REASONABLE AUTOMOBILE ALLOWANCES

A travel allowance paid to an employee for the use of their personal vehicle for business purposes will be non-taxable if it is reasonable.Where such reasonable allowances are paid, an input tax credit (ITC) may be claimed by the employer.  The ITC is computed as the imputed GST/HST in the allowance, without adjustment for the… Read more »