Canada Revenue Agency

Canada Revenue Agency

November 26, 2014 12:49 ET

Harper Government Supports Canadian Entrepreneurs

Minister of National Revenue highlights CRA efforts to support tax literacy during Startup Canada Day on the Hill

OTTAWA, ONTARIO--(Marketwired - Nov. 26, 2014) - Canada Revenue Agency

The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, today highlighted the numerous measures the Canada Revenue Agency has launched to help businesses across Canada manage their tax affairs successfully. The Minister made her remarks while participating in a panel discussion on the importance of being financially literate during Startup Canada's Day on the Hill.

November is Financial Literacy Month, and our Government is proud to support initiatives to help increase Canadians' financial knowledge. In fact, the Canada Revenue Agency (CRA) has introduced a broad list of initiatives to help entrepreneurs understand and meet their tax obligations at early and ongoing milestones in their business development cycle. Supporting the tax literacy of Canadians results in less red tape and helps entrepreneurslower their business costs so that they can build and grow resilient and prosperous businesses:

- Through the CRA's secure online self-service portal, businesses now have access to more than 50 different transactions such as registering for services, making payments, filing returns, making account changes, asking questions, and viewing balances.

- The new Liaison Officer Initiative (LOI) helps entrepreneurs and businesses get it right from the start by providing them with in-person support and guidance at key points in their business cycle. The initiative helps entrepreneurs avoid mistakes that would be costly to correct further down the road, leading to less red tape and lower costs for the business.

- The CRA's Small Business Checklist, a great resource for someone just starting a business, provides user-friendly information on some of the key tax topics that should be taken into consideration throughout a business' lifecycle.

- The CRA's first-ever mobile app, the Business Tax Reminders app, allows small and medium-sized businesses to create custom reminders and alerts for dates related to instalment payments, returns, and remittances;

- Businesses can now sign up for pre-authorized debit (PAD), an online, self-service, payment option. It's a low-cost payment option for business that is available no matter which financial institution you deal with or the size of your tax payments.

The CRA is committed to reducing red tape and enhancing services to entrepreneurs and business owners, for the benefit of Canada's economy and the prosperity of all Canadians.

Quick Facts

- Founded in May 2012, Startup Canada is the most recognized entrepreneurship network in Canada, and has mentored over 80,000 grassroots' enterprises across the country.

- Most Canadian businesses-the engines of Canada's economy-are small businesses; Industry Canada estimates that approximately 98% of Canadian companies have fewer than 100 employees. (Source)

- The LOI pilot project was launched in March 2014 and has recently expanded to all regions across the country.

- The LOI is built on the "right from the start" approach that has been identified as an international best practice by other tax administrations.

- CRA's 2012 red tape consultations led to improvements in several areas, such as the availability and clarity of tax information, online services, the collection of information, reporting obligations and frequency of filing, and more. The results can be found in the Focussing on Small Business Priorities: Canada Revenue Agency Consultations on Cutting Red Tape report.

Quote

"Our Government is helping Canadian entrepreneurs and businesses succeed, by reducing red tape and enhancing our services to meet their needs. Since 2006, we have introduced over a dozen measures to help businesses improve their tax literacy and get it right from the start. We are ensuring that entrepreneurs have the information and support they need to manage their tax affairs easily and quickly, so that they can focus their resources on establishing and growing their business."

The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue

Associated Links

Startup Canada Day on the Hill

Liaison Officer Initiative

Red Tape Reduction

My Business Account

Small Business Checklist

Business Tax Reminders mobile app

Focussing on Small Business Priorities: Canada Revenue Agency Consultations on Cutting Red Tape

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Contact Information

  • Rebecca Rogers
    Director of Communications
    Office of the Minister of National Revenue
    613-995-2960

    Noel Carisse
    Media Relations
    Canada Revenue Agency
    613-952-9184