Marlene L. Grant Professional Corporation

Chartered Professional Accountant, Certified General Accountant

June 2017

The June issue of my Tax Tips and Traps newsletter is available in downloadable PDF format here.  This issue contains important tax issues, the latest news and is filled with valuable information including:

CRA’s My Account for Individuals and My Service Canada Account are now linked such that users caneasily switch between online personal tax information and
  other benefits (ex. EI, CPP, and OAS).
• Employers will soon be able to distribute T4s electronically (provided certain conditions are met).
• In September 2016, the CRA transmitted 315,160 banking records to the IRS under the information sharing requirements in the Foreign Account Tax Compliance     Act (FACTA).
• CRA monitors publicly available information, including social media posts for certain Canadians (particularly “high-risk” taxpayers).
• CRA has required that Square Canada Inc. provide them with details on certain businesses using Square Readers to process sales.

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