On 5 February 2021, the Canada Revenue Agency (CRA) announced that they will no longer require taxpayers to provide a cost recovery charge when entering the Advance Pricing Arrangement (APA) program. Previously, the charge was used to cover the CRA’s estimated out-of-pocket costs for completing the APA process during coronavirus outbreak. This payment was acted as a deposit, as any amount not spent by the CRA was typically refunded to taxpayers at the end of the APA process.
Related Posts
Canada to extend steel, aluminium tariff measures to support businesses
June 04, 2026
Canada’s Minister of Finance and National Revenue has announced, on 3 June 2026, that the government will be extending key steel and aluminium tariff measures for one year. Subject to approval by the Governor in Council, Canada will extend its
Read More
Canada: CRA releases updated 2025 corporate income tax guide
June 02, 2026
The Canadian Revenue Agency (CRA) has issued an updated corporate income tax guide for tax year 2025 on 28 May 2026. The guide covers the following: Accelerated capital cost allowance (CCA) for liquefied natural gas (LNG) facilities The
Read MoreAustralia, Canada tax treaty negotiations set to begin
May 14, 2026
Canada’s Department of Finance announced on 12 May 2026 that discussions will begin next month to modernise the income tax agreement between Canada and Australia. The current treaty, originally established in 1980, has been modified twice through
Read MoreCanada: Quebec to increase small business deduction rate, reduce small business tax rate
May 13, 2026
Quebec tax authority, Revenu Quebec, announced, on 4 May 2026, an increase in the small business deduction rate and a reduction in the small business tax rate for taxation years beginning after 29 April 2026. Under certain conditions, a
Read MoreCanada unveils CAD 1.5 billion support package for tariff-affected industries, includes steel, aluminium and copper sectors
May 12, 2026
Canada’s government has announced CAD 1.5 billion to support several of Canada’s tariffed industries on 4 May 2026. This includes the creation of a new CAD 1 billion Business Development Bank of Canada (BDC) program available to industries
Read MoreCanada: CRA announces one-time groceries and essentials top-up payment for June 5
May 06, 2026
The Canada Revenue Agency (CRA) announced on 17 April 2026 that eligible Canadians will receive a one-time GST/HST credit top-up on 5 June 2026. The payment is part of the transition to the Canada Groceries and Essentials Benefit, which will replace
Read More