CRA Electronic Filing Guidelines for 2009

The majority of common information returns (original and additional) must be filed electronically in 2009 if there are more than 50 information returns for each type—such as;

  • T4 Statement of Remuneration Paid
  • T5 Statement of Investment Income
  • T3 Statement of Trust Income Allocations and Designations

The following information returns must be filed electronically using the Internet;

  • T3 Statement of Trust Income Allocations and Designations
  • T4 Statement of Remuneration Paid
  • T4A Statement of Pension, Retirement, Annuity, and Other Income
  • T4A-NR Statement of Fees, Commissions, or Other Amounts Paid to Non-Residents for Services Rendered in Canada
  • T4E Statement of Employment Insurance Benefits
  • T4RIF Statement of Income From a Registered Retirement Income Fund
  • T4RSP Statement of Registered Retirement Savings Plan Income
  • T5 Statement of Investment Income
  • T5007 Statement of Benefits
  • T5008 Statement of Securities Transactions
  • T5018 Statement of Contract Payments
  • NR4 Statement of Amounts Paid or Credited to Non-Residents of Canada

The following information returns must be filed electronically as this is the only way they can be accepted by the CRA:

Originals only:

  • AGR-1 Statement of Farm-Support Payments
  • SAFER Manitoba Shelter Benefits
  • T4A(OAS) Statement of Old Age Security
  • T4A(P) Statement of Canada Pension Plan Benefits

Originals and amended:

  • T4E Statement of Employment Insurance Benefits
  • T1204 Government Service Contract Payments
  • RRSP Contribution Receipt Filing
  • TFSA, Tax Free Savings Account

Information returns can be filed electronically using Internet File Transfer (XML). The CRA can accept files of up to 150 megabytes. If your file is more than 150 megabytes, you can still file using the Internet File Transfer application by either compressing or dividing each submission so that it is no more than 150 megabytes. For T4 returns, this means that filers can send approximately 160,000 returns in an uncompressed file and 1.6 million returns in a compressed file. For T5 returns, this means that filers can send approximately 260,000 returns in an uncompressed file and 2.6 million returns in a compressed file. For T4 returns, filers can use T4 Web forms (up to 3 returns) and T4 Desktop Application (up to 70 returns), in addition to Internet file transfer (XML). For more information on Internet filing, go to Filing T4/T5 information returns electronically.

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Are you management material?

I found an article online written by F. John Reh, entitled “How to Tell If You Are Management Material” and I read it hoping to see if it would shed some clues into why I have always thought I was.  The article, however, was a little more on the comical side then I had hoped for. 

The author presents a top ten list, David Letterman style, of clues that you are management material.  Read it as there is some truth mixed into the humour, then we’ll have a real discussion about what I think are clues;

  • 10. You like not doing anything.
  • 9. You have no trouble telling others what to do
  • 8. Work fascinates you – you can sit and watch it for hours
  • 7. You like ‘sweating the small stuff’
  • 6. You have always been something of a loner
  • 5. You don’t think ‘plan’ is a four-letter word
  • 4. Your favorite cocktail is milk of magnesia
  • 3. On Halloween you dress up as Alex P. Keating
  • 2. Your favorite horror writer is Tom PetersAnd the number one clue you are management material –
  • You enjoy having people despise you just for doing your job.

There is some truth to a few items on his list, but I think they can all be managed through perception.  Being aware of how others perceive you goes a long way towards you being able to manage that perception.  Even if you have no one else to help you, you should still be aware as to the basics expected of you by your staff.  For example;

The management style of yelling and berating staff is so 1980’s and is no longer an effective tool… Unless you want your staff to hate you.  Also unpopular among staff is the perception that they do way more work than you.  That should never happen.  Not only do you have a job to do as a manager but you are also required to lead a team, think strategically and get stuff done to a higher level on some very short time frames.  Not that I recommend whining to staff about it, they don’t know what you do all day, but sharing information with them helps them buy into the job, and feel that they are an important piece in the company.  Nothing is wrong with telling your staff your thoughts and suggestions to make their lives better.  I believe they actually appreciate it.

As for the perception of doing nothing or the concept of being hated for doing your job, I think these 2 go hand-in-hand.  If you sit in your office reading the paper, but then go home and put in 5 hours in the evening, no one is going to know about the extra work, but everyone will know about the perceived slacking during the day.  Be strategic.  If you must read the news during the day, do it online!

So back to the clues…  Here is my top 10 list;

10. You have a bigger vision of the way the company can operate more efficiently

9. You offer suggestions and ask questions surrounding process improvements and operational improvements

8. You enjoy helping others get work done and see them praised for it.

7. You are eager to achieve recognition of you direct manager and peers, in the good way. 

6.  Being respected is important.  Being a team player, also important.  Put team goals first.

5. You are able to act as a team leader / manager naturally

4. You have passion – for your current job, for the company, for everyone doing a good job.

3. You are flexible.  You can work in different areas, understand what others have to do and can thrive in your area of expertise or somewhere where you have no knowledge of the work required. 

2. You keep emotion out of the workplace

1. You treat everyone in the manner you want to be treated… With respect!  Explain to the level of understanding.  Be empathetic.  If you ever want people to work for you, and I mean WORK for you, you have to be understanding that they have lives beyond work and in their lives there are stresses.  Don’t be one too.

My thoughts… What would you add?

Beneficial Owner – CRA Clarification

Beneficial owner – Regarding proper amount of withholding, the CRA bases it on name of address, UNLESS, there is a “care of” address or the mailing address and permanent address are different.  If there is a care of address, or difference in permanent address, the CRA requires a certificate to be completed by the holder. 

“In any doubtful case, a certificate, as described in ¶ 5(b), is required to be completed and forwarded to the payer by the payee in order that a lower rate of withholding tax, in accordance with a tax convention, can be applied. Otherwise the 25% rate will apply.

The Canada Revenue Agency (CRA) will accept the payee as beneficial owner of amounts paid to non-residents if the payee is an insurance corporation or pension trust that invests solely on its own behalf and includes such amounts in computing its revenue.”

Examples of the certificates are available in this CRA Information circular, pages 2 and 3.  http://www.cra-arc.gc.ca/E/pub/tp/ic76-12r6/ic76-12r6-e.pdf

CRA to finally accept payments via Interac Online

Monday 5 October 2009

 

The Canada Revenue Agency (CRA) has integrated Interac Online, an internet payment method which enables Canadians to make income tax payments directly from their bank accounts, without disclosing personal financial data.

As a result of the initiative, starting October 5th 2009, taxpayers and businesses will be able to pay online for various types of taxes, including income taxes, corporate taxes, payroll taxes, and GST, as well as make one-time payments and instalments.  Interac Online works with existing online banking services of participating Canadian financial institutions.

Public Works and Government Services Canada, which establishes banking services for the Government of Canada, has made it possible for the CRA to implement this new service.

Finally!

CRA – Filer Identification Number coming January 2010.

Filer Identification Number (FIN) change
 
Starting in January 2010, the Canada Revenue Agency (CRA) will be processing information returns using the Business Number (BN) in order to simplify filing and processing.
 
 
In the future, the FIN will be converted to the BN. If you are required to file either the T5, T5007, T5008, T5013 or the RRSP contribution receipts, you will be asked to file your returns and receipts using the BN instead of the FIN.
 
The CRA will be notifying all filers of their new converted BN by letter. If you have not received your BN by December 2009, please call 1-800-959-5525 (English).
 
If you are filing these returns on behalf of others then you might want to give them some notice that you will be requiring this number and they should contact you once they receive it.  Failing to put this number on a return will be subject to a fine.