CRA scams increase as tax season started

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Tax season has started and as Canadians prepare to fill out their forms, officials are urging people to be cautious of Canada Revenue Agency (CRA) scams that are already on the rise.

According to Ottawa police, these scams happen all year, but there’s usually an increase in complaints starting in March until the end of April because scammers target people during tax season.

 

CPA BC / CRA Meeting. Some things discussed:

Last week had a meeting with tax practitioners and CRA representatives. Some things discussed:
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* “MyCRA” mobile app to view your return status, notice of assessment, benefit and credit information, and RRSP and TFSA contribution roomโ€”all on your mobile device.
* Online Charities Listings – http://www.cra-arc.gc.ca/chrts-gvng/lstngs/menu-eng.html can be used to:
confirm if a Canadian charity is registered and therefore eligible to issue official donation receipts.
* My Payment now offers Visa Debit option
* CRA has created a new online mail service that allows individuals to receive some correspondence from the CRA online through My Account.
* CRA has increased number of representatives to assists tax payers during the tax season. Individual income tax enquires: 1800-959-8281.

Tax changes 2015

 

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Tax rate changes for individuals and tax-free savings account.

http://www.cra-arc.gc.ca/gncy/bdgt/2015/tc12-eng.html

For the 2016 and subsequent tax years, the federal personal income tax rate on taxable income of $45,282 to $90,563 (the second income tax bracket) will be reduced by 1.5% from 22% to 20.5%.

For 2016, the Government proposes a TFSA annual contribution limit of $5,500.

Tax Services North Vancouver