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St John's Harbour in Newfoundland Canada from Signal Hill

Clients may not know they’re obligated to file, and there is no cap on penalties for late filing if taxes are owed

parliament hill

Liberals said they will release details about the 2% tax in Budget 2023

tax penalty

Client overcontributed, had income below basic personal amount

Couple happily reviews their finances.

Clients who miss interest payment deadline risk losing an income-splitting opportunity

The Canada Revenue Agency (CRA) headquarters Connaught Building is pictured in Ottawa on Monday, Aug. 17, 2020. The Canada Revenue Agency won't say when it expects its website to return to normal. CRA Tax

The union said it would hold strike votes for about 35,000 workers that could affect tax season

The Canada Revenue Agency (CRA) headquarters Connaught Building is pictured in Ottawa on Monday, Aug. 17, 2020. CRA Tax

The CRA also updated the RRSP dollar limit

  • By: IE Staff
  • November 1, 2022 November 1, 2022
  • 10:16
Photo of a "for rent" sign outside of a house

Clients should tread carefully if they change the intended use of a building or residence

Businessman and tax burden flat illustration

Clients who owe the CRA would be wise to pay even if they dispute the amount, experts say

Filling out Canadian tax documents

Proactive collaboration is critical for resolution, client well-being

Harvested wheat on farm field with hay bale in Saskatchewan, Canada

The province has enough money to balance the 2022-23 budget, says Finance Minister Donna Harpauer