Canada Revenue Agency Archives - Andersen in Canada

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Newly proposed changes of significance to Canada Revenue Agency’s (“CRA”) Voluntary Disclosures Program (“VDP”) soon coming into effect

Danny Guerin 09/29/2025

Overview On September 10, 2025, the CRA released a new version of its VDP Information Circular, IC00-1R7[1], along with the new GST/HST Memorandum 16-5-1[2] (collectively referred to as the “new Programs”). The updated policies will apply to disclosures received on or after October 1, 2025, ...

Highlights of the 2022 Fall Economic statement

Léa Duval 11/15/2022

Prepared by Andersen in Canada, Montréal Partner Patrick Coutu, Tax Director Danny Guerin with support from Maya Desrosiers On November 3, 2022, The Deputy Prime Minister and Minister of Finance, Chrystia Freeland, presented the 2022 Fall Economic Statement. Below is an overview of some of the major tax related ...

Draft Legislation – Canada Federal Budget 2021

Léa Duval 03/07/2022

Prepared by Andersen in Canada, Montréal Partner Patrick Coutu and Tax Manager Divya Katyal with support from Inta Simonyan. On February 4, 2022, the government of Canada released draft legislation for comment, implementing new tax measures including some of those remaining from the 2021 Federal Budget (https://ca.andersen.com/blog/canada-federal-budget-2021-highlights/). Below is ...

Important tax update – Intergenerational transfers

Léa Duval 09/10/2021

Prepared by Andersen in Canada, Montreal Partner Patrick Coutu, Tax Director Danny Guérin and Tax Manager Omar Yassine. The tax community has been asking the Canadian government for several years for legislative changes to address the fact that it is currently impossible for Canadians to ...

Mandatory Disclosure for Aggressive Tax Planning (ATP) – Revenu Québec

Andersen 03/29/2021

Prepared by Andersen in Canada, Montréal Partner Patrick Coutu and Tax Manager Divya Katyal The Aggressive Tax Planning Research and Integrity Branch of Revenu Québec has recently issued a statement to broaden measures to combat aggressive tax planning. The disclosure obligations will now be extended ...

Canada Revenue Agency real estate audit penalties in B.C. reach $200,000 mark

Andersen 06/27/2019

Selling Canadian real property? Canada Revenue Agency is increasing audit focus on nonresidents selling Canadian real property. We can assist you. Andersen partner Steven Flynn was quoted in a recent news article on the Q1 results of Canada Revenue Agency’s audit program designed to identify ...

Steven Flynn comments on BC’s new speculation and vacancy tax and the impact on foreign nationals who own Canadian real estate

Steven Flynn, CPA, CA, CPA (Washington) 02/26/2019

Canada Revenue Agency (CRA) is poised to receive significant data from the BC government that will help tie home ownership to income declarations. While BC’s speculation and vacancy tax is a measure to address the housing crisis in major urban centers in BC, it can ...

British Columbia Speculation and Vacancy Tax

Steven Flynn, CPA, CA, CPA (Washington) 01/28/2019

Owners of BC residential property need to be aware of the new 2018 British Columbia Speculation and Vacancy Tax affects and how to apply for exemptions. To prevent housing speculation in British Columbia and help turn vacant homes into rentals in its overheated market, the ...

Changes to Certain Cross-Border Tax Amounts for 2015

Steven Flynn, CPA, CA, CPA (Washington) 02/04/2015

As the calendar changes to 2015, both the Internal Revenue Service and Canada Revenue Agency have changed or left unchanged certain amounts and figures. Below are some of the revised amounts, numbers and limits for the year 2015 relevant to U.S. citizens resident in Canada. ...

Canada Revenue Agency Extends The 2013 Personal Tax Return Filing Deadline

Steven Flynn, CPA, CA, CPA (Washington) 04/14/2014

Recently the Canadian federal government’s website and computers were hit by the Heartbleed bug. The computer virus took down Canada Revenue Agency’s online filing services and also prompted the government to shut down access to client information sites such as Represent a Client, Netfile, My ...

The member firms of Andersen in Canada focus on Canadian, international and Canada-U.S. cross-border tax matters. With offices across Canada, our tax professionals work with a broad range of businesses and individual clients to develop innovative tax solutions for a diverse range of issues. Our senior leaders and many of our professional staff have extensive experience in Canadian, international, U.S. and cross-border tax matters with major international accounting firms, as well as practical experience working with businesses and individuals.