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All items tagged with: CRA

Disability Credit Rejects: Close to 60% of Taxpayers Win Back Rights

Posted: July 03, 2018 By : Knowledge Bureau Staff Writers
Posted in: Strategic Thinking , tax preparation, CRA, tax credits, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, disability tax credit, RDSP, Registered Disability Savings Plan, tax education, diabetes, Diabetes Canada, tax refunds, rejected claims, life-sustaining therapies claim, Senate Committee on Social Affairs, Distinguished Financxial Advisor

Last year, following a bitter public controversy, the CRA re-assessed 2,267 rejected claims from diabetics applying for the Disability Tax Credit (DTC). The good news? Now 1,326 have now been approved – that’s 58 percent! But these Canadians will wait up to 30 weeks for refunds; an issue that has prompted a further Senate response.

CRA Improves Services Standards: Their New Three-Point Plan

Posted: June 26, 2018 By : Knowledge Bureau Staff Writers
Posted in: Strategic Thinking , tax preparation, Financial Literacy, CRA, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, income tax estimator, Essential Tax Facts, federal budget, tax courses, distinguished financial advisor, CRA service standards, filing tax returns, CRA phone support, Auditor General, Diane Lebouthillier, Minister of National Revenue

Last year, the Canada Revenue Agency received extensive criticism for failing to meet basic service standards. But things have recently improved at the CRA; 74 percent of calls are being answered by an agent or auto assistant, compared to the mere 37 percent in 2015, which prompted this fall’s Auditor General Report. The CRA now intends to ensure things get even better, and responded to the criticisms on June 12, 2018 with a three-point action plan.

CRA to Send Instalment Payment Notices in August: Your Tax Remittance Options

Posted: June 19, 2018 By : Knowledge Bureau Staff Writers
Posted in: Strategic Thinking , Financial Literacy, CRA, self-employed, Canada Revenue Agency, tax services specialist, Small Business, tax courses, tax calculators, tax education, proprietor, installment payments, quarterly tax installments, calculating installment tax, tax deadlines in Canada, installment notification

You’re not in the clear yet! In August, the CRA will be notifying individuals who will be required to remit an instalment payment by the September 15 and December 15 deadlines. Even if you weren’t required to make an instalment payment on June 15 or earlier this year, you might still be subject to paying in instalments. This means that now is the time to review whether you need to save throughout the summer for yourself or for the taxman!

Avoid Tax Traps: Estimate Your 2018 Taxes Due

Posted: May 22, 2018 By : Knowledge Bureau Writing Staff
Posted in: Strategic Thinking , tax preparation, knowledge bureau, Evelyn Jacks, income tax estimator, tax calculator, Small Business, tax courses, entrepreneur, CRA penalties, online education, overdue taxes, late filing, proprietors, free tax calculator

The June 15 tax filing deadline for proprietorships is just around the corner.  But, there’s another problem soon to befall delinquent taxpayers:  the tax collector is coming if you haven’t paid up, and you can expect a “no excuses” approach.

Sneak Peek! Start Your Career Filing Personal Tax Returns

Posted: May 15, 2018 By : Knowledge Bureau Staff Writers
Posted in: Strategic Thinking , tax preparation, CRA, tax credits, knowledge bureau, Evelyn Jacks, tax course, tax reform, Morneau, income tax filing, personal income tax, online education, 2018 Budget, preparing tax returns

Now that it’s May, a whole new tax season – 2018 - has begun! It’s prime time to “spring into studies” and enhance your career with knowledge and skills in personal tax consultancy.  Why?  Artificial intelligence and software solutions can’t replace the true value of specialized advice.

June 15 Filing Deadline for Proprietorships: Brush Up on Tax Change Now

Posted: May 15, 2018
Posted in: Strategic Thinking , CRA, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, Small Business, Bookkeeping, tax courses, tax changes, financial education, tax software, tax reform, entrepreneur, Strategic Thinking, accounting courses, online education, small business statistics, department of labour, labour report, audit, payroll courses, income tax returrns

Small businesses in Canada are responsible for employing 8.2 million Canadians, which is 70.5 percent of the total labour force.1 Recent tax changes impacting small-business owners require broader, deeper tax knowledge for accurate, audit-proof returns. It’s time to brush up on audit-proof tax filing skills now in advance of the June 15 final filing deadline.