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Ottawa Backs Down on Digital Tax Dispute Amid Pressure from Trump White House

Canada has reportedly agreed to delay its planned digital services tax (DST) following pressure from former U.S. President Donald Trump’s administration, according to a recent statement from the White House. The tax, which was originally slated to target tech giants like Amazon, Meta, and Google, had been a major sticking point in U.S.-Canada trade discussions. The White House claimed Canada “caved” to U.S. demands after months of negotiations, with Trump’s team arguing the tax unfairly targeted American firms. The Canadian government, however, framed the delay as a strategic move to preserve economic stability and avoid retaliatory tariffs. Critics within Canada argue that the government’s decision reflects a growing trend of yielding to U.S. economic influence, while others say the delay is pragmatic given ongoing global talks about a coordinated approach to taxing digital revenues. The issue remains contentious, and observers are watching closely to see whether Canada will revive th...
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Taxes 2024: What You Need to Know for This Year’s Filing Season

 

With tax season upon us, there are several tweaks to the filing process this year that Canadians need to be cognizant of before it’s time to submit that paperwork. Understanding this year’s changes is crucial to filing taxes properly and making sure you receive any benefits or credits you may be entitled to.

Important Dates

  • February 19, 2024: This is the first day you can start filing your 2023 tax return online. If you file on paper, you should receive your income tax package in the mail by this date.
  • April 30, 2024: This is the deadline for most Canadians to file a tax return. By filing your tax return on time, you’ll avoid delays to any refund, benefit, or credit payments you may be entitled to. If you owe money to the CRA, this is also the payment deadline.
  • June 15, 2024: If you or your spouse or common-law partner are self-employed, this is the deadline to file your tax returns. As this date falls on a Saturday, your return will be considered filed on time if the CRA receives it or it is postmarked on or before June 17, 2024. If you owe money to the CRA, you’ll still need to pay by April 30, 2024, to avoid interest.

What’s New for 2024

  1. Digital Disability Tax Credit (DTC) Application Form: The CRA has made it faster and easier for persons with disabilities and their medical practitioners to complete the DTC application form. Applicants can now complete Part A of the application form online in My Account or by phone. Once completed, the applicant will receive a reference number to give to their medical practitioner who will use it to complete Part B of the form.

  2. Changes to the T1 Notice of Assessment: The CRA has updated the T1 notice of assessment and notice of reassessment to provide more complete information that is easier to understand. If you are expecting a refund and are not signed up for direct deposit, you will receive a paper T1 notice of assessment and cheque separately.

Remember to stay informed and take advantage of these changes to ensure a smooth tax-filing experience. 

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