Businesses – Tax information newsletter, Edition 2022-01

October 18, 2022

It’s Small Business Week 2022 and the CRA is relaunching the Business Tax Information Newsletter

This Small Business Week, the Canada Revenue Agency (CRA) is recognizing the strength and hard work of small businesses as they continue to rebuild and grow. The Agency recognizes how important small businesses are to our economy, and is here to help.

We are re-launching our Business Tax Information Newsletter and will be issuing it on a bimonthly basis. The newsletter will highlight CRA and other Government of Canada services that can support you and your small business, now and in the future.

Support for Canadians affected by Hurricane Fiona

If you are a business that is affected by Hurricane Fiona relief may be available for you. The CRA understands that at this time, the safety and well-being of loved ones is the primary concern for those affected. The Agency is committed to a proactive approach to providing a relief to the communities and taxpayers impacted by this event whenever possible.

Claiming CRA’s Scientific Research and Experimental Development (SR&ED) Investment Tax Credits is now easier!

The SR&ED Program is the largest Government of Canada Program supporting research and development in Canada. On average, SR&ED provides more than $3 billion in tax credits to over 16,000 businesses annually.

Our newly updated Self-Assessment and Learning Tool (SALT) helps you determine how likely your work is to qualify, understand the kinds of information you need to complete a claim, and calculate your potential claim amount, all within around 30 minutes!

Try the SALT today!

Confirm a representative using My Business Account

The CRA has taken another step to ensure that your tax information is secure and to guard against unauthorized access. With the Confirm My Representative service, businesses now have to confirm or deny pending authorization requests submitted through EFILE in My Business Account.

If the owner or their delegate doesn’t confirm a request within 10 days, it will be cancelled and a new one will need to be submitted. The Confirm my Representative service in My Business Account lets you or your delegated authority quickly and easily verify new authorized representatives and ensure your tax information is secure. For more information go to Confirm a representative using My Account or My Business Account.

Learn about updates to Taxable Benefits

New! There is a new taxable benefit category for virtual social events.

Updates have also been made to simplify the business reporting obligations for the following employer-paid taxable benefits:

• gifts and awards
• parking
• social events

Find more information about these taxable benefits on the CRA’s Taxable Benefits webpages.

Modernize your business with the Canada Digital Adoption Program!

Wish you had access to expert advice to help you add new digital tools to run your business?

The Canada Digital Adoption Program (CDAP) provides up to $15,000 in grants and access to e-commerce advisors and digital adoption experts, plus the ability to secure a 0% interest loan from the Business Development Bank of Canada. If you want to modernize your business operations or take advantage of e-commerce opportunities and create digital storefronts, CDAP can help!

Join the companies across Canada that have improved their business with help from the Canada Digital Adoption Program. Get started today!

Assisted Compliance: A CRA Initiative

The Assisted Compliance initiative is an evolution of taxpayer education activities that engages taxpayers with tailored information and individual support in order to help them become compliant. This initiative allows the CRA to reserve more comprehensive and traditional enforcement efforts, such as audits, for more serious or complicated cases. It’s an opportunity for us to reinforce the tax laws by taking an education-first approach to help taxpayers.

For more information, go to Assisted Compliance program.

Filing a CPP/EI Appeal has never been easier!

Our updated publication on taxpayer appeal rights will guide you through the steps and scenarios, making it easier to find the specifics of your situation.

Filing a CPP/EI Appeals with the Canada Revenue Agency (CRA) is not the same as filing an objection with the CRA.

You can file a CPP/EI appeals if you disagree with:

• a decision letter from the Canada Pension Plan (CPP)/ Employment Insurance (EI) Rulings Division; or
• a notice of assessment for payroll source deductions.

For CPP/EI, an appeal can relate to a wide array of situations, some of which include the following:

• Employee or Self-employed?
• Agriculture and horticulture
• Insurable hours
• Wage loss replacement plans

An easy to read explanation of each of the topics above can be found under the Government of Canada’s "CPP/EI Explained".

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