Interest rate on overdue tax will remain 7% in Q3
With reduced deduction of investment counsel fees, many trusts need to amend tax returns
Many trusts may need to amend 2024, 2025 tax returns
Hiring of additional 1,500 call centre workers also under way
Agency confirms the interest rate on overdue tax will remain 7%
Date not reasonable for industry implementation, tax practitioner says
Amount includes tax refunds, pension cheques and benefits
For dealers, preparing for compliance will include reviewing agreements with fund managers
Deadline for prescribed-rate loan payments is Jan. 30
CRA provides tips ahead of its busiest time for contact centres