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.

Are you making choices between investing in a TFSA or an RRSP? Which should come first?

Sophie T.K. Tse successfully achieved her DFA-Tax Services Specialist designation from Knowledge Bureau in 2012. We are pleased to have Sophie as one of our distinguished grads.

From a personal tax perspective, rules surrounding donations were a significant part of the tax changes introduced as part of the 2014 Federal Budget announced on February 11.

This guest column was submitted by Doug Nelson, author of the newly released 3rd edition of Master Your Retirement, published by Knowledge Bureau.

I am a dual citizen (Canada/U.S.) and have lived in Canada for about thirty-five years. What are the tax implications if I buy U.S. based ETFs with USD and Canadian based ETFs with CAD?

The number of days you spend in the U.S. each year can deem you to be a U.S. resident for tax purposes. You could even be a U.S. citizen and not realize it, and that has tax consequences. Learn your rights and obligations with Canadians & the IRS – pre-order your copy today.