September 2009 Archives

Appointment to the Canada Revenue Agency Board of Management

A news release on the CRA web site has announced the appointment of Mr. Gerard J. Fitzpatrick to the Canada Revenue Agency Board of Management who was nominated by the Province of Prince Edward Island.

According to the CRA news release:

"Mr. Fitzpatrick's thirty years of experience as a chartered accountant and founding member of two chartered accounting firms in Prince Edward Island will contribute to the Board's role within the CRA," said Minister Blackburn. "The Board is an integral part of the Agency's unique governance structure and I am confident that Mr. Fitzpatrick's membership will be beneficial to the work of the Board in the years to come."

While the Minister of National Revenue retains full accountability to Parliament and to Canadian citizens for all CRA activities, the Board of Management is responsible for overseeing the organization and administration of the Agency and the management of its resources, services, property, personnel, and contracts. The Board brings a forward-looking, strategic perspective to the CRA's operations and fosters sound management and service delivery.

The Act to establish the Canada Revenue Agency specifies the establishment of a Board of Management. The Board comprises 15 members, including the Chair, the Commissioner, 11 directors nominated by the provinces and territories, and two directors nominated by the Federal Government. All members are appointed by the Governor General in Council. The Act requires that each director nominated by a province or a territory must be selected by the Governor General in Council from a list of nominees submitted by the minister responsible for revenue administration in the province or the territory, or by another minister that the province or the territory designates.

More information on this or other CRA news releases can be found at:
http://www.cra-arc.gc.ca/nwsrm/rlss/2009/m09/nr090929-eng.html

CRA Tax Tip: The Home Renovation Tax Credit

The following tax tip on The Home Renovation Tax Credit is available on the Canada Revenue Agency Web Site.

Did you know ...

That as a construction business owner, contractor or retailer, you can make a difference by making your customers aware of the Home Renovation Tax Credit (HRTC)?

The HRTC is a temporary non-refundable tax credit for eligible home renovation expenditures for work performed or goods acquired, after January 27, 2009, and before February 1, 2010, in respect of an eligible dwelling. It was announced in the Canada’s Economic Action Plan to revitalize the Canadian economy by encouraging home owners to make renovations and receive a tax credit of up to $1,350.

Help your customers by providing them with the documentation they need to support their HRTC claims. Agreements, invoices, and receipts, must clearly identify the type and quantity of goods purchased or services provided, including, but not limited to, the following information:

•information that clearly identifies you as the vendor/contractor, your business address and, if applicable, your goods and services tax/harmonized sales tax registration number;
•the date the goods/services were purchased or provided;
•a description of the work performed including the address where the work was performed; and
•the amount paid.
In case customers have questions on the HRTC, the Canada Revenue Agency has HRTC information that you can download, print, and hand out to your customers. The materials provide a brief overview of the HRTC and additional links should your clients want more detailed information. They can be downloaded at www.cra.gc.ca/hrtc.

For more information on this or other CRA tax tips, visit:
http://www.cra-arc.gc.ca/nwsrm/txtps/2009/tt090916-eng.html