For several days, Canadian taxpayers trying to log onto Canada Revenue Agency’s (CRA) online services have found themselves blocked by a ‘systems maintenance’ notification. The decision to take the agency offline was prompted by a cybersecurity vulnerability that has reportedly affected various organisations around the world. The CRA has confirmed…

Toronto city councillor, Mike Colle, has confirmed plans to propose the introduction of a speculation tax during the next council meeting in January 2022. The intention is to see new taxes applied to home buyers who are not buying principal residences and will target speculators and home flippers whose growing…

Canada Border Services Agency (CBSA) is cautioning online shoppers to be aware that they may be liable for duties, taxes, and brokerage fees when purchasing foreign goods. Online shopping has become more prevalent during the pandemic and is expected to peak further this holiday season. Even with Black Friday and…

It is trying times for cryptocurrency investors as incidents of crypto scams appear to be on the rise. The lure of Bitcoin, Ethereum, Cardano and others has done much to boost the demand for digital currencies but with devastating consequences for some Canadians. Recently, two Ontario women reported having lost…

A new Postmedia/Leger poll indicates that though two-thirds of Canadians do support equalization, a smaller majority of 54% feels that some provinces take unfair advantage of the program and do not do enough to boost their own economic growth. This opinion was found to be most strongly held in Alberta…

Canadian CPAs and accounting firms can now apply for .cpa web addresses thanks to a decision by the American Institute of CPAs (AICPA) to offer the web domain to its northern neighbours as from November 2. To be eligible, the CPAs and accounting firms must be duly licensed. AICPA has…

Canada has resolved to delay its implementation of the upcoming Digital Services Tax from January 2022 to January 2024 as it awaits a new tax system proposed by the Organization for Economic Cooperation and Development (OECD) that will see the application of a minimum cross-border tax of 15% on large…

Cryptocurrencies may be an untraditional currency but their increasing popularity has led to a greater understanding. However, a new phenomenon has started that sees many people making insanely large profits, called Non-Fungible Tokens (NFTs). An NFT is data stored on a database called blockchain. The NFT is unique and cannot…