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All items tagged with: CRA

Give Seniors the Gift of Financial Protection

Posted: December 11, 2018
Posted in: Strategic Thinking, Current Issue , seniors, relationship management, elder abuse, succession planning, power of attorney, fraud, family wealth, financial abuse, advisor's duty, client services, CRA scam, wills

It’s an advisor’s duty to help protect their clients from financial abuse, and seniors are most vulnerable to this. In fact, according to the Ontario Human Rights Commission, 62.5 percent of elder abuse cases are financial. What can you do to give your senior clients the gift of financial protection this holiday season?

How to Improve Service Levels: Tax Pros Give Advice to CRA

Posted: December 04, 2018
Posted in: Strategic Thinking , CRA, Canada Revenue Agency, Small Business, tax courses, cra business services, Canadian economy, entrepreneur, Auditor General Report, CRA service standards, CRA business enquiries

On the heels of recent criticisms by the Auditor General, Knowledge Bureau Report readers weighed in on CRA service levels and they were conclusive: 87% of last month’s poll respondents say that the CRA needs to work harder. They cited a myriad of issues from 32-week wait times for a T1 Adjustment to the need to correct CRA’s errors, some of them big. 

Wait Until 2020 for CRA Service Standard Improvements

Posted: November 27, 2018 By : Beth Graddon
Posted in: Strategic Thinking , CRA, Canada Revenue Agency, Taxpayers' Ombudsman, taxpayer bill of rights, tax education, CRA service standards, Auditor General, CRA business enquiries

A year after the Auditor General Report that took the CRA to task over its service standards, this fall’s report delivers further criticism. This time, CRA is being called out for its inconsistent practices and in addition, this latest critique follows the news that the implementation of call centre improvements has been delayed again.

Snowbirds: Tax Consequences When Substantial Presence Test Isn’t Met

Posted: November 27, 2018 By : Dean Smith
Posted in: Strategic Thinking , CRA, Canada Revenue Agency, distinguished advisor conference, Cross Border Tax, snowbirds, Dean Smith, IRS, Canadians in the US, living abroad, Cadesky Tax, U.S. tax reform, substantial presence test, U.S. tax return, Interal Revenue Service

Are snowbirds required to file a U.S. tax return? In this week's article, Dr. Dean Smith shares tax requirements for those who don’t meet the substantial presence test.

Death in the Family: Executors’ Obligations

Posted: November 12, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , CRA, executor, Evelyn Jacks, tax filing, Death of a Taxpayer, final returns, rights and things returns, Tax Accounting on Death of a Taxpayer

Year-end can be a particularly difficult time for those who have lost a loved one during the year. But it’s important to see a tax specialist when someone in the family dies, to file any tax returns that may be outstanding on time, adjust prior-filed returns, and to claim specific tax benefits that can help to pay for end-of-life costs.

Take Up Rate for Canada’s Federal Benefits is Extremely Low

Posted: November 12, 2018
Posted in: Strategic Thinking , CRA, Canada Revenue Agency, tax deductions, Diane Lebouthillier, Federal Benefits, Childcare benefit, Chief Service Officer, DFA - Tax Services Specialist, Income Tax Courses

New data shows just how many Canadians lack access to federal benefits they’re eligible to receive. This was a topic of discussion with Pierre Labbee, an outreach manager for the Canada Education Savings Program at the recent Distinguished Advisor Conference. But now an annual benefit review of the Canada Child Benefit reveals that this benefit in particular is underused, despite it being accessible to millions, and one of the reasons is a difficult relationship with the CRA.