Showing Tag: "cra" (Show all posts)

Automobile Expense Benefit Increase!

Posted by michelle mckillop on Sunday, January 6, 2013, In : CRA Bulletins 
So, in typical contradictory fashion, the CRA has updated their Auto Expense Benefit rates to adjust for inflation. This means if you drive a company vehicle you will have a greater income inclusion (and more taxes to pay) in 2012 & 2013 than you did in 2011. However, the upper limits for interest or lease payments you can deduct with regards to passenger vehicles remains the exact same. The bottom line is where it benefits them, they've recognized inflation. Where it does not benefit them, t...
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Take care when making donations

Posted by michelle mckillop on Thursday, December 13, 2012, In : CRA Bulletins 
The CRA is investigation many charitable organizations in Canada. While most are legitimate, every year dozens of organizations are having their charters revoked for various reasons. If you have donated to one of the revoked organizations you will have your donation refused upon review.

The following information is now available on the CRA Web site:

Tax tip: Donate wisely: Take time to learn about a charity before you donate

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