The CRA TSlip Saga: An Update

This tax season has been particularly challenging for both taxpayers and tax professionals. The Canada Revenue Agency (CRA) provides tax information slips—such as T3, T4, T5, and their variations—through secure online portals: My Account and Represent a Client (RAC). This year, there were lots of problems with these portals, and now, it appears, CRA is not being quite transparent about when the slips were actually visible to clients and that doesn’t seem fair. Here’s an update on where we stand now.

According to the Conference Board of Canada, organizations that are committed to a strong learning environment for their employees will perform better than their competitors.  In fact, there are a number of tax advantages, too.

Finance Canada proposed changes to the $2000 Pension Income Amount in the September 20 release of sixty-four changes to the Income Tax Act and Regulations.  

Statistics Canada’s issued two reports on September 15; one reporting good news on the value of household wealth; the other showing that the value of employer-sponsored pension funds declined.  

The Canada Revenue Agency has announced the final prescribed interest rates that will apply to any amounts owed to the CRA and to any amounts the CRA owes to individuals and corporations in 2016.

Professional bookkeeping skills are in high demand, but hard to find.   Knowledge Bureau’s new 30-hour certification course features new practical scenarios featuring Intuit’s Quickbooks Online; a powerful educational experience that will enable confidence in the bookkeeping department.  

Taking a Knowledge Bureau training program this year?  There are numerous funding options to help make your professional studies more affordable, including financing by Knowledge Bureau, funding through a student’s own tax assisted savings plans and CRA tax assistance through various tax incentives.