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News & Updates

CRA Cuts Small Business Tax Red Tape

cra cuts smallCanada Revenue Agency (CRA) has announced some changes aimed at reducing the red tape associated with small business tax filing and other related procedures.

Here are the highlights:

  • Allow businesses to submit payroll enquiries through the My Business Account enquiries service
  • Allow businesses to update business banking and direct deposit information online
  • Improve access to My Business Account by reducing the processing time for a Business Consent Form from 14 days to only 5 days
  • Increase outreach to businesses to ensure they are aware of less burdensome filing frequency options (for example, filing quarterly rather than monthly).

For the full details, please visit the CRA website

Please contact us for information about FBC tax services.

What red tape do you hate? Let us know in the comments or on the FBC Facebook page