Wildfires: Apply for Taxpayer Relief Provisions
Canadians affected by wildfires may also be concerned about the tax consequences of lost records or missed filing deadlines. Fortunately, the CRA offers Taxpayer Relief Provisions for circumstances beyond a taxpayer’s control. These can apply in cases involving natural disasters, serious illness or death in the family, or errors made by the CRA—any of which may lead to late or incomplete tax filings and trigger penalties or interest. Here’s what you need to know.Claim More for Your Child Care Expense Expenses
Post-tax season blues? Not sure if you claimed all the deductions and credits you were entitled to? You’re probably not alone. Many people miss lucrative provisions when filing, but you can request an adjustment to your filed return. One of the most frequently missed deductions for families is the child care expense claim.
2017 Provincial Budget Roundup: Part 1
Since February, the provincial governments across the country have been releasing their 2017 budgets. Most recently in the last week of April, Ontario, Nova Scotia and the Yukon released theirs. Over the next three Knowledge Bureau Reports, we will be presenting a brief summary of each provinces’ tax provisions, starting with the most recent:
We Have a Winner! Now, Test Your Financial Trivia Skills
Congratulations to our April Financial Trivia winner: Glen Pangle, who correctly answered this question in April: When was the first record of taxation in Canada? Read on for the answer and a new opportunity to answer this month’s financial trivia question. You too could enter to win a free registration to the Distinguished Advisor Conference (DAC) in the spectacular wine country of BC.
Professionals Disagree with Work in Progress Rule Changes
It’s safe to say that the professional financial community doesn’t agree with the 2017 federal budget proposal to wipe out the Work in Progress rules: 76% to 24% in fact.
DAW: Position Your Knowledge for A Global Economy
The federal budget has put an emphasis on positioning Canada for success in the innovation economy of tomorrow. However, an emerging issue for most professional advisors is what to do about the emphasis CRA has on the reporting of offshore assets and the perceived loopholes private business owners have.
DAC: Apply by May 31 and Help Us Celebrate Top Young Advisors
The Distinguished Advisor Conference (DAC) has established its reputation over the past 14 years as the most comprehensive and strategic educational conference available to tax and financial advisors.
