Many were hoping for tax reductions in Budget 2019 that would help make Canada more competitive. With Canada's top marginal tax rates described by some analysts as "punitively high," and with the Canadian economy sliding to an annualized rate of growth of only 0.4 per cent in the fourth quarter, there are no proposed changes to the tax rates for individuals or corporations.
The Canada Revenue Agency (CRA) has announced that it has redesigned the correspondence it sends to Corporations regarding their business tax information, including individual Canadians, and Goods and services tax/harmonized sales tax (GST/HST) notices of assessment (NOA) and notices of reassessment (NOR). The CRA has made changes to how the notices are structured, designed, formatted, and written, making the information easier to read and understand.
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