1. CRA: Canada Revenue Agency

Stands for: Canada Revenue Agency

The Canada Revenue Agency (CRA) is the federal agency responsible for administering tax laws, collecting taxes, and delivering benefits and credits to Canadians. It ensures compliance with tax laws through audits, investigations, and enforcement actions. The CRA also oversees various social and economic benefit programs, including the Canada Child Benefit and the Goods and Services Tax/Harmonized Sales Tax Credit.

2. CRA: Clinical Research Associate

Stands for: Clinical Research Associate

In the pharmaceutical and healthcare industries, a Clinical Research Associate (CRA) plays a vital role in monitoring clinical trials. CRAs ensure that clinical trials are conducted in accordance with regulatory requirements, protocols, and good clinical practice guidelines. They monitor the safety and efficacy of investigational drugs or medical devices, collect and analyze data, and ensure participant safety and rights.

3. CRA: Community Reinvestment Act

Stands for: Community Reinvestment Act

The Community Reinvestment Act (CRA) is a U.S. federal law enacted in 1977. It encourages financial institutions to meet the credit needs of the communities in which they operate, particularly low- and moderate-income neighborhoods. The CRA requires banks to provide loans, investments, and services to these underserved communities to promote economic development and fair access to credit.

4. CRA: Canadian Rental Association

Stands for: Canadian Rental Association

The Canadian Rental Association (CRA) is a national trade association representing the equipment and event rental industry in Canada. It provides resources, advocacy, and networking opportunities for rental businesses across the country. The CRA promotes professionalism, safety standards, and business growth within the rental industry through education, training, and industry events.

5. CRA: Comprehensive Ranking System

Stands for: Comprehensive Ranking System

In the context of immigration to Canada, the Comprehensive Ranking System (CRS) is a points-based system used by Immigration, Refugees, and Citizenship Canada (IRCC) to evaluate and rank candidates in the Express Entry pool. The CRS assigns points based on factors such as age, education, work experience, language proficiency, and adaptability. Candidates with the highest CRS scores are invited to apply for permanent residency.

6. CRA: Common Reporting Standard

Stands for: Common Reporting Standard

The Common Reporting Standard (CRS) is an international standard for the automatic exchange of financial account information between tax authorities worldwide. Developed by the Organisation for Economic Co-operation and Development (OECD), the CRS aims to combat tax evasion by ensuring that financial institutions report account information of non-resident taxpayers to their respective tax authorities.

7. CRA: California Rental Association

Stands for: California Rental Association

The California Rental Association (CRA) is a statewide trade association representing the equipment and event rental industry in California. It serves rental businesses by providing legislative advocacy, education, networking opportunities, and resources to promote industry growth and professionalism. The CRA also facilitates collaboration among rental businesses and suppliers in California.

8. CRA: Clinical Research Administrator

Stands for: Clinical Research Administrator

A Clinical Research Administrator (CRA) is a professional responsible for managing and overseeing administrative aspects of clinical trials and research studies. CRAs coordinate study protocols, budgets, regulatory compliance, and personnel involved in clinical research projects. They ensure adherence to ethical standards, regulatory requirements, and institutional policies throughout the research process.

9. CRA: Canada Retirement Account

Stands for: Canada Retirement Account

The Canada Retirement Account (CRA) is a hypothetical retirement savings account concept proposed by some policymakers and economists. It would function as a national savings plan to supplement existing retirement income programs, such as the Canada Pension Plan and Old Age Security. The CRA aims to help Canadians save for retirement by providing tax incentives and investment opportunities.

10. CRA: Credit Repair Agency

Stands for: Credit Repair Agency

A Credit Repair Agency (CRA) is a company that offers services to improve individuals’ credit scores and financial profiles. CRAs may dispute inaccurate or outdated information on credit reports, negotiate with creditors to remove negative items, and provide financial counseling to clients. However, consumers should be cautious when engaging with CRAs to avoid scams or unethical practices.