No new taxes, smaller surpluses predicted over next three years
The taxpayer's penalty for filing foreign account forms late was reduced to $50,000 from $2.72 million
Clients may not know they’re obligated to file, and there is no cap on penalties for late filing if taxes are owed
Liberals said they will release details about the 2% tax in Budget 2023
Client overcontributed, had income below basic personal amount
Clients who miss interest payment deadline risk losing an income-splitting opportunity
The union said it would hold strike votes for about 35,000 workers that could affect tax season
The CRA also updated the RRSP dollar limit
Clients should tread carefully if they change the intended use of a building or residence
Clients who owe the CRA would be wise to pay even if they dispute the amount, experts say