Canada Revenue Agency Roundtable

Too much red tape is costly for business and hinders growth. As part of the Government’s commitment to reducing red tape, the CRA has implemented significant changes to its online services to reduce the burden that Canadian businesses face in meeting their tax obligations.

You are invited to meet with Cathy McLeod, Parliamentary Secretary to the Minister of National Revenue, on July 25, 2012 at 9:00 am, for a roundtable discussion on business burden reduction and improvements to My Business Account. Seating is limited; call to reserve your seat now 250-756-1191.

Below are some of the changes to the CRA’s online services that have made it faster and easier for Canadian businesses to do business with the Agency and to meet their compliance obligations. The Government is interested in hearing from small business users of their service.

Are these changes having a positive effect? Is there more than can be done?

- Economic Action Plan 2012 extended the Hiring Credit for Small Business, which helps offset the cost of hiring new employees and will be automatically applied when a qualifying business files its 2012 T4 information return. The CRA will calculate it for you, no added burden.

- The new My Business Account Enquiries Service provides businesses, or their representative, with a secure online portal to ask the CRA tax-related questions specific to their account. Businesses then receive answers they can rely on online and in writing, in the Message Centre.

- Since January 2012, businesses can file up to fifty information returns in a single submission using the CRA’s Web Forms application – fast, easy, and secure.

- To serve Canadian business owners better, the CRA recently created a one-stop shop Web page where businesses can find information and service options that may apply to their situation. Visit it at www.cra.gc.ca/businessonline.

- The CRA also changed the penalty structure that is applied for failure to file an information return by the due date for some small businesses. The new administrative structure, which applies to specific information returns, has lowered the penalties for businesses who file fewer than 11 slips. For example, those filing one to five qualifying returns will have a maximum penalty of $100 under the new structure, as opposed to $1,000 previously.

Further information can be found on these websites:
Compliance burden for small businesses - http://www.cra-arc.gc.ca/nwsrm/rlss/2012/m05/nr120531-eng.html
My Business Account - http://www.cra-arc.gc.ca/nwsrm/rlss/2012/m05/nr120508-eng.html