Kuperman CPA is a Licensed Public Accounting firm. We offer personal and corporate tax preparation, mortgage origination and compliance consulting services in Canada. This section is dedicated to the updates from the selected Revenue and Compliance agencies.
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The Government of Canada has taken significant actions to support Canadians and businesses as a result of the global COVID-19 outbreak.
Cryptocurrency is a relatively new innovation that requires guidelines on taxation so that Canadians are aware of how to meet their tax obligations. The Senate reviewed the issue of taxation on cryptocurrency and recommended action to help Canadians understand how to comply with their taxes, which the Canada Revenue Agency (CRA) is doing by presenting this guide.
Money laundering is a global issue which is illegal, unethical and harmful. In Canada, it poses threats to our national reputation, economy, and society. CPA Canada recognises these threats and contributes to federal policy development. On behalf of the profession and in the public interest, we engage with the federal government in efforts to strengthen Canada’s anti-money laundering regime and present the Strategic Framework for AML.
Elements of such a strategic framework, in our view, include:
The regulations are changing at warp speed, and the stakes for complying with applicable regulations continues to increase. Risks for doing business with the wrong third party are financial, commercial and reputational in nature and pose ongoing compliance concerns.
Home office expenses for employees
Office supplies and phone expenses
The CRA has published more details on employer-provided benefits and allowances, including commuting costs, employer-provided parking, computer and home office equipment, meal costs, and cell phone and internet service plans. The CRA has indicated that these positions are effective from March 15, 2020 to December 31, 2020.