Canada Revenue Agency Tax Information

Canada Revenue Agency

The Canada Revenue Agency is responsible for administering various social, economic and charitable programs throughout Canada. In 2003 there was a split-up of the now called Canada Revenue Agency. It formerly was known as the Canada Customs and Revenue Agency. The responsibilities were divided up and two separate entities were formed. The Canada Revenue Agency is similar to the United State’s IRS.

The Canada Revenue Agency has many responsibilities such as; administering economic and social benefits as well as fostering tax programs for Canada. They also administer tax programs within the provinces themselves, not just at the Canadian Country level.

They monitor the Canadian Administration to assure a certain amount of integritywithin the tax systems. The Canada Revenue Agency is always reviewing and evaluating programs, and assessing the risks to the people of Canada and implementing tax law that better serves the people of Canada. There is a certain amount of trust from the Canadian people placed on The Canada Revenue Agency.

While they are trying to invoke tax laws to provide a thriving economy for the Canadian People, they need to ensure taxes are filed properly and in a timely manner as well as paid in a timely manner.

Services that are administered by the Canada Revenue Agency are done so fairly at a cost that is kept low so that the tax burden on the people of Canada can be kept to a minimum. They try to keep environmental changes in mind when establishing their programs.

The Canada Revenue Agency notes that some organizations are charities, and advises them on technical matters relating to compliance. Registered charities must file an annual return with the CRA.

The Canada Revenue Agency is also responsible for the child tax benefits, goods and services tax, as well as charity tax laws. They are responsible for collecting federal and provincial taxes from the providences, Canada Pension Plan contributions, and excise taxes.


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