Wildfires: Apply for Taxpayer Relief Provisions
It may not be the first concern, but Canadians affected by wildfires may worry at some point about the tax consequences of lost records or missed filing deadlines – the next one on June 16 for those filing T1 returns with proprietorship income. Fortunately, the CRA offers Taxpayer Relief Provisions when there are circumstances beyond a taxpayer’s control, including natural disasters, serious illness or death in the family, or errors made by the CRA, which may trigger penalties and interest due to late or incomplete tax filings. Here’s what you need to know.Knowledge Counts: Upgrade Your Skills Today
Now’s the time to prepare for next tax season by upgrading the skills of you and your team. Start the DFA-Tax Services Specialist™ Designation program for the “a-ha” moments and finish it for the opportunity to connect and differentiate. Enrol by June 15 and attend DAW as our guest.
Discuss Money Matters with Your Family
Money and finances play such a critical role in our day-to-day lives, yet it can be one of the most uncomfortable and polarizing topics to discuss. Break taboo and learn to broach financial topics with a plan. Purchase your copy of Financial Fotographs today – makes a great graduation gift!
Provide Guidance to Your Clients in Estate Planning Matters
Learn to prepare final returns in the most tax-efficient manner and expand your career by adding estate planning to your list of services. Enrol in Final Returns on Death of a Taxpayer.
Doomed Ontario Budget: Retroactive Bracket Creep, High Income Surtaxes Taxes Featured
The May 1 Ontario budget triggered a provincial election and so it died on the vine; but it’s an important one to understand, none-the-less, as some of its parts may be back at some time in the near future, depending on the outcome of the election.
No Expiration Dates on New Prepaid Cards
New rules pertaining to prepaid credit cards took effect on May 1. Finance Minister Joe Oliver held a press conference on April 30 in Ottawa to introduce the new measures that were designed to protect Canadian consumers.
Gift Not Negated with Inflated Charitable Tax Receipts
As per subsection 118.1(3) of the Income Tax Act (the Act), an individual may claim a tax credit with respect to a gift made to a registered charity. The amount of the tax credit is determined by the amount of the gift.
