Coming This Month: Changes to Business Registration Online
More changes are coming to how your clients will access Business Registration Online (BRO). Starting July 14, 2026, the Canada Revenue Agency (CRA) your business clients will only be able to access BRO through their CRA account. As usual, it’s the taxpayer who is responsible for on time remittances and the burden of proof in an increasingly digital relationship with CRA. Here’s what you need to know:Inflation Fans: Payroll Taxes Increase in 2023
CRA has just announced increases in the CPP and EI premiums – statutory deductions – that will be payable by employers and employees in 2023. In the case of EI (Employment Insurance), the rates had been frozen for two years; but now, with both plans becoming more expensive, these taxes on labor will shrink both take home pay for workers and cash flow for employers in an inflationary winter.
FHSA or RRSP HBP? The Vote was Close
Knowledge Bureau Report asked pros across the country whether the First Home Savings Account (FHSA) or the Registered Retirement Savings Plan (RRSP) is the better savings vehicle for home buyers. The vote was close.
DAC Acuity 2022: Tax Planning & Compliance – The Tax Quagmire for Ex-Pats
Annual dinner and announcement of 2022 Designates and Graduates with Dr. Dean Smith on Sunday Oct 16 at DAC Acuity 2022, plus a session on Monday led by Dr. Smith covering tax planning and compliance with a focus on ex-pats.
Grads and Designates: Official Transcript Study Term July 1 – September 30
Check out your official transcripts in the Graduate Lounge. Why? Find out if you qualify for new Specialized Credentials, re-certification options and most important - Early Bird Tuition Reductions for the fall term October to December 15.
October 14: Expect a Treat in your Bank Account
For taxpayers who filed a 2021 tax return in Alberta, Saskatchewan, Manitoba or Ontario a second Climate Action Incentive Payment (CAIP) will be in your bank account on October 14. Those who did not file a tax return yet, should get on it, as the CRA is not paying interest if you are claiming these rebates late.
Seniors to Get Another Raise in October
Old Age Security (and the Guaranteed Income Supplement) are updated quarterly according to changes in the Consumer Price index. With inflation running at close to 7%, OAS, which was indexed by 2.8% in July, is expected to increase another 2.8% in October.
