Trade Wars: Why Income Tax Filings Matter More Now

It’s hard not to get caught up in the trade wars saga, and of course it has serious economic repercussions. In times like these, our tax system can help. The federal government has indicated three pillars of support will be enacted, details of which are to come shortly:

Consumers need—more than ever—a proven path to follow. Managing the Bull clears away the speed bumps to help financial advisors from all professions develop a deeper and more meaningful relationship with their clients. Give it as a gift – it will help make your clients better consumers of the advice and service you provide.

Expand your career by honing your bookkeeping skills and understand the development of a complete set of books for a variety of business types. Enrol in Advanced Bookkeeping for Multiple Businesses – an excellent training solution for your staff.

Reserve your spot now for the September Retirement and Estate Planning Bootcamp. This must-attend event will provide you with the best tools to preserve, grow, and transition wealth tax-efficiently for your clients and to the next generation.

Currently the Income Tax Act (the Act) ensures disclosure of taxpayer information by Canada Revenue Agency (CRA) officials is specifically prohibited unless in relation to a criminal investigation or in emergency circumstances.

A recent decision of the British Columbia Supreme Court has held that the Canada Revenue Agency (CRA) owes taxpayers a duty of care; this new finding means that taxpayers can now sue the CRA for negligence. 

Discovery: the process of requesting and receiving relevant documents from the other side is one of the most important stages of any litigation. When the other party is the Minister of National Revenue (the Minister) the discovery stage can seem like a David vs. Goliath type struggle.