CATS TAX CLUB

12/25/2014

One of our clients had undeclared cash of $10,000 seized at border and paid a penalty of $2,500 in the spot after a currency detector dog uncovered the cash

Tip: Whenever you bring cash in or out of Canada, you have to declare it in the boarder card. in addition, If it is more than $10,000, then you must declare them and fill the form (E677)

Be careful and travel safe

12/18/2014

What you should know about the new reporting of EFTs of $10,000 or more to the CRA

12/09/2014

CRA updates you must know – They are going tougher

To: All our Clients We've just received this email from the Canada Revenue Agency. They are warning us that they are on the lookout for taxpayers that try to claim incorrect expenses. 

11/26/2014

The Canadian government recently announced the new family income splitting

If you have a child under 18 and you and your spouse are in different tax brackets, you could be looking at an additional tax credit of up to $2,000 on filing your taxes for 2014.