This Month’s Poll

The automobile deduction limits raised — the CCA ceiling for passenger vehicles to $39,000 plus tax for 2026. In your opinion, is that high enough?

Unfortunately, COVID-19 has slowed the opening of social immersion in Ontario and interrupted our plans to hold the Distinguished Advisor Conference in Niagara Falls, so we’ll be going there in fall 2021 instead.  This year’s DAC Acuity 2020 will be held virtually, with the unparallelled professional education and networking that are the hallmarks of the event and lots of interesting twists. There are also two ways to schedule the event into your busy calendar. Check this out:

The strategic philanthropic solution taught in the MFA-P™ designation program takes a multi-stakeholder approach to giving.  This new designation will empower clients to give more effectively because of their collaboration with you.  If you are interested in this credential, be sure to enroll by June 30 and save $500. Here are more program details:

Tax Services Specialists must have more than precise technical and research skills; for them, the soft skills matter in building long term relationships with their clients and various regulators. Now more than ever, Canadians need caring support and someone to help them navigate the complex tax and financial repercussions of the pandemic and associated benefit programs. Read on for the soft skills and processes that will allow tax specialists to fulfill an essential service.

The CERB payments have been extended for an additional 8 weeks to a total of 24 weeks, available under the same eligibility criteria, but with one caveat: Canadians should make an effort to return to work. In addition, those abusing CERB guidelines must repay them to avoid stiff penalties. The resulting broad-based complexity with the CERB will ensure a tax compliance quagmire for recipients next year. Here’s what you need to know:

On June 5, the Prime Minister announced two new response benefits to help Canadians through the pandemic. But the promised Disability Tax Credit (DTC) top-up payments and help for the provinces in a “Safe-Restart” Agreement have been delayed as other parties opposed the passing of the bill. Here’s what was proposed:

According to the most recent tax filing statistics, the majority of Canadians chose to abide by the extended June 1 tax filing deadline even though late filing penalties and interest won’t apply until September 1. But that doesn’t mean that tax season is over – there are some important filing deadlines on the horizon, and that matters because CRA is officially resuming audit activity.