Podcast: Automatic Tax Filing - Will It Work?

Last week Taxpayers' Ombudsperson François Boileau  tabled his annual report:  In Pursuit of Better Service: Taxpayers Deserve More.  once again, it was nothing short of scathing, as CRA received its highest number of complaints in the last three years.  Calling our “completely nuts” Income Tax Act a potential barrier, he is nonetheless pushing for automatic tax filing as a potential solution.  A new episode of Real Tax News with Evelyn Jacks & Friends available next week, will feature guest Gillian Petit, Ph.D. - author of a great report, Welcome News for Lower-Income Canadians, but There’s More to Do - which takes a deeper dive.  Consider the following:

To address the self-employment gross vs. net issue, the Government of Canada registered the Canada Emergency Response Benefit and Employment Insurance Emergency Response Benefit Remission Order (“Remission Order”) on May 12, 2021. The Remission Order redresses the self-employed workers who did not qualify for CERB because of the gross vs. net issue by providing that a self-employed Canadian earning less than $5,000 in net income who received CERB, who otherwise would have qualified for CERB, need not return the CERB monies.

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The red tape is significant, and the governmental processes are not ready. Unfortunately, that’s what your clients will find if they want to get a head start on energy efficient retrofits with new government assistance programs before the winter comes. The federal process involves several government departments and sharing of data that could also put clients at increased risk principal residence audits.  The help of a tax professional can be invaluable to access an interest free loan of up to $50,000, a $5000 grant and up to $600 to get a required home-energy evaluation.