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:

Self-employed taxpayers who are receiving a CPP retirement pension must continue to contribute to CPP until they are at least 65. 

The rules differ for spousal and child support, as explained below.

According to a Canadian Institute of Actuaries (CIA) study published by advisor.ca, the life expectancy of a 60-year-old male today has increased by 2.9 years (from 24.4 to 27.3 years), while the life expectancy of a 60-year-old female has increased by 2.7 years (from 26.7 years to 29.4 years).

With back-to-school just around the corner, there are several important recent tax issues for students that will be helpful to keep in mind for the year ahead.

It’s not too late – call us today to reserve your spot at the Distinguished Advisor Conference. We have been able to secure a small block of additional rooms at our spectacular venue. Please call today to register for the 10th annual Distinguished Advisor Conference, November 10-13.

If you are intent on building your firm to new heights, you won’t want to miss this inspirational story: Charlie Spiring will take you into the future with his inspirational Wellington West story and the lessons that he has learned.