Changes to Paper Filing Disempowering

Last tax season, only 7% of all Canadian tax filers filed on paper. The CRA is pushing for zero. It continues to steer the holdouts to digitized filing by adding lots of obstacles. Most recently, it is removing almost all the schedules from the tax return package it mails. This seems unfair to people who paper file because they can’t afford a computer and internet, distrust the security of online filing and those who are neither tax or computer literate. Here’s what they are up against:

The family’s tax returns are a great place to look for year-end planning opportunities that will create new money for that Christmas vacation or will help to pay off those credit cards come January. But the time to focus on this process is before the snow flies.

Must-Hear Post-Election Insights from a Premier Globe and Mail Commentator

Year end tax planning will need to be rethought in light of the dramatic change of government in Canada.  The most significant questions surround the implications for both winners and losers.

The role of accounting can go well beyond just tracking the numbers; providing advice to clients who are business owners will support their decision making and help them to generate real value. That’s why advanced planning for growth and transition is the focus of a new certificate course published by Knowledge Bureau this month.

Do you know how to prepare a T2 corporate return for your small business clients?   Has it always been your professional development dream to get the credentials to do so?

Taxpayers should receive legal advice prior to giving a power of attorney to anyone, including their spouse. Unintended tax consequences will not be forgiven by the CRA.