The Canada Revenue Agency (CRA) now sends most business correspondence online through the My Business Account portal in your CRA account , instead of by paper mail. To make sure you receive notifications when new mail or important changes occur, add or update your email address in your CRA account. Why updating your email address matters Keeping your email address current in your CRA account ensures you receive notifications when: New mail (such as notices of assessment, stat

The Canada Revenue Agency (CRA) is warning Canadians about certain financial arrangements involving critical illness insurance that may be designed to avoid paying taxes. These arrangements often involve complex transactions, like borrowing money and using it to pay for insurance, which can mislead taxpayers and result in serious tax consequences. The CRA has previously issued warnings about similar schemes including those involving Offshore Disability Insurance Plan and O

November is Financial Literacy Month, and this year’s theme, ‘Talk Money,’ encourages Canadians to have open, honest conversations about their finances. Talking about money is not easy – we get it. However, improving your tax literacy can be directly beneficial to you! Learn how doing your taxes can put money in your pocket, help you save up for a home, or your retirement. We also share tips on how to protect your finances from scams and fraud. For those looking for extra ca

The Canada Revenue Agency (CRA) is changing how tax professionals are authorized to access your tax information — and this change affects every individual taxpayer in Canada. Until now, tax preparers like me could send a signed authorization form (T1013) through certified tax software to gain access to your CRA file. This option is ending.After July 15, 2025, CRA will no longer accept authorization forms submitted through EFILE software for individuals. This means a new proce

Starting November 3, 2025, registrations for new business number (BN) or Canada Revenue Agency (CRA) program accounts must be done online. The CRA is moving away from phone-based registrations, so if you call the Business Enquiries (BE) line to register, you’ll be directed to the CRA’s secure online portal Business Registration Online (BRO). This change is designed to make the registration process quicker, easier, and more secure for businesses. Here is what you need to kn

The Alberta child and family benefit (ACFB) is a tax-free amount paid to families that have children under 18 years of age. For July 2025 to June 2026 , you may be entitled to receive the following amounts: $1,499 ($124.91 per month) for the first child $749 ($62.41 per month) for the second child $749 ($62.41 per month) for the third child $749 ($62.41 per month) for the fourth child The benefit is reduced as family income exceeds $27,565. If your adjusted family net income

The Canada Revenue Agency (CRA) is committed to helping taxpayers correct their past tax mistakes. The Voluntary Disclosures Program (VDP) allows for well-intentioned taxpayers to voluntarily correct their tax affairs and receive some financial relief. On October 1, 2025, changes to the VDP will come into effect. These changes will make it easier to correct unintentional filing errors or omissions and make the program more accessible. The program remains focused on providing

The Canada Revenue Agency (CRA) wants to make sure that you are receiving the benefits and credits you are eligible for. As a senior,...

Canadians have been contributing to tax-free savings accounts (TFSA) since 2009, enjoying tax-free investment growth. Did you know that...

Recover a locked account Your account will become locked if you enter the wrong information too many times for any of the following: CRA...

As students head back to class, it’s the perfect time to sharpen more than just pencils — let’s sharpen their financial skills too. The...

The Canada Revenue Agency (CRA) has rolled out some important updates this fall that could impact both individuals and businesses. Here’s...

Between April and June 2025, the Canada Revenue Agency (CRA) quietly rolled out a federal and provincial tax payment deferral for...

The government is moving forward with the proposal to deliver tax relief for Canadians by reducing the lowest marginal personal income...

A First Home Savings Account (FHSA) lets you save for a qualifying home with tax-free growth and tax-deductible contributions, making it...

The Canada Revenue Agency (CRA) has ramped up audit activity in 2025, putting more focus on small and medium-sized businesses across the...

Thinking of buying your first home? The First Home Savings Account (FHSA) is one of the best tools out there — but only if you use it...

The Canada Revenue Agency (CRA) has introduced a new two-step process called “Confirm My Representative.” This change affects how tax...

March 21, 2025 Ottawa, Ontario Canada Revenue Agency The confidence and trust that individuals and businesses have in the CRA is a...

Strengthening Compliance in the Trucking Industry: CRA and Labour Program Sign Information-Sharing Arrangement From: Canada Revenue...