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:

Statistics show that 97.8% of of the employer business in Canada are small businesses. This means if you have built a tax filing business serving individuals and households only, you’re missing out on a big share of the market.

Knowledge Bureau is pleased to present the Four-Pack!  Four in depth half day virtual Mini-Summits you can  access immediately to brush up on your personal tax knowledge in time for tax season 2025!

Get ready for the Acuity Conference for Distinguished Advisors experience in Puerto Vallarta, November 23-26, 2025 where we’ll be gathering outstanding continuing professional development to address the changing global tax and economic environment plus 4 days of networking in the sun and at the fabulous fiestas at night!

There is still time to give and save money: mark your calendar for February 28.  That is the deadline date to make cash, cheque, money order donations  to your favorite charity and claim the deduction on your 2024 tax return.

The Finance Department is asking for your input - now until March 10 -  for its anticipated Budget 2025.  This is especially interesting, given the upheaval in Canadian and international politics, and recent retreats in taxation policy: the reluctant postponement of the proposed capital gains inclusion rates, bare trust reporting and the introduction of the Underused Housing Tax. 

With the prorogation of parliament many tax provisions in the April 16, 2024 federal budget, the August 12, 2024 legislative proposals and the Fall Economic Statement of December 16 have fallen into a state of confusion.