Businesses - Tax information newsletter, Issue: 2014-01
February 24, 2014
1. Government of Canada launches consultations on new measure to support small businesses and reduce red tape
The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, has launched the first of several consultation sessions on the proposed Registration of Tax Preparers Program (RTPP) in Vancouver. The proposed RTPP is part of a recently announced three-point plan to support small and medium-sized businesses by helping them comply with tax rules and reducing red tape.
2. The Harper Government kicks off 2014 with a renewed commitment to red tape reduction for businesses
In the past year, the Government of Canada implemented significant red tape reduction measures, from increasing its accountability to businesses, introducing time-saving measures, to enabling businesses to file and manage their information online.
You no longer need to wait for a new web access code to file your T4s, T5s, or other information returns electronically with the Canada Revenue Agency. The code you used to file your 2012 information return is the same code you’ll use to file your 2013 and future-year returns.
Changes to the way you deduct Canada Pension Plan (CPP) contributions for your employees aged 60 to 70 came into effect in January 2012. Employees working in Quebec and other workers not subject to the CPP are not affected by these changes
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