CRA Archives
Search the full library
![Woman checking financial figures on computer screen](https://www.ggfl.ca/wp-content/uploads/2022/01/CRA-online-My-Business-1024x683.jpg)
Authorizing GGFL as Your Representative with CRA
There is one simple, but important step business owners can take to help make their filing and on-going interactions with CRA easier and more efficient. With just a few steps, you can authorize GGFL to speak with CRA on your behalf and provide us with access to your
Read more
![Close up of pen filing in dollar amount on cheque](https://www.ggfl.ca/wp-content/uploads/2024/01/write-cheque-1024x678.jpg)
CRA Imposes Penalty for Cheques
If writing a cheque is your preferred method of paying CRA, you might want to rethink that approach if you owe the government $10,000 or more. In an effort to encourage more electronic payments, CRA will soon be imposing a penalty of $100 for all payments of $10,000 or
Read more
![Illustration of business man on road going up to dark clouds.](https://www.ggfl.ca/wp-content/uploads/2023/07/interest-rates-going-up-1024x683.jpg)
CRA Interest Rates: The Growing Cost of Late Tax Payments
UPDATE: As of January 2024, the CRA interest rates charged on late tax payments is 10%. The interest rate on prescribed rate business loans has risen to 6%. Rising interest rates aren’t just impacting mortgage rates and other loans, they are also impacting the cost
Read more
![Avoid CRA Audits](https://www.ggfl.ca/wp-content/uploads/2017/11/CRA-Radar-624x313.jpg)
How to Avoid CRA Audits: Staying Under Their Radar
There are ways to stay below the Canada Revenue Agency’s (CRA) radar and, aside from correct and iron-clad calculations on tax returns, being proactive is chief among them. The trick, through proper planning and review, is to avoid sending them an invitation to do
Read more
![Personal Services Business (PSB)](https://www.ggfl.ca/wp-content/uploads/2017/11/Personal-Services-Business-PSB.jpg)
Personal Services Business – Avoid the Trap
The last thing you want when you incorporate your business is for the Canada Revenue Agency (CRA) to label you a personal services business (PSB). If CRA determines an incorporated individual working as a contractor is just an employee of the company they are
Read more