What is Canada Revenue Agency (CRA)?
The Canadian federal agency responsible for administering tax laws, collecting taxes, and delivering benefit programs.
Definition
The Canada Revenue Agency (CRA) is the Canadian equivalent of the IRS, responsible for administering tax laws for the Government of Canada and most provinces, collecting taxes, and delivering benefit programs such as the Canada Child Benefit and GST/HST credit. For US-Canada cross-border taxpayers, understanding CRA requirements alongside IRS obligations is essential for proper compliance.
Who Needs to Know This?
All Canadian tax residents, US citizens living in Canada, dual citizens, and anyone with Canadian-source income or Canadian tax obligations.
Key Deadline
Personal tax return due April 30; self-employed due June 15 (but payment due April 30)
Potential Penalties
Late filing penalty of 5% of balance owing plus 1% per month (up to 12 months); repeat offenders face 10% plus 2% per month
Related Forms
Common Mistakes to Avoid
- 1US citizens in Canada not filing with both CRA and IRS
- 2Not understanding CRA's My Account online portal
- 3Missing Canadian filing deadlines while focused on US deadlines
- 4Not claiming available Canadian credits and benefits
Related Terms
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