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:

Last week Knowledge Bureau Report told you about Michel Bouchard (the “Appellant”) established a partnership known as the Tennis Mania Limited Partnership (“the Partnership”) in order to generate funding to support his daughter’s tennis development. At just 9 years of age, the Appellant was confident that his daughter was talented enough to make a career out of playing tennis. What did the Tax Court of Canada think of the arrangement?

As part of its ongoing efforts to improve electronic filing processes, the Canada Revenue Agency (CRA) is pleased to announce the extension of the electronic filing season for 2012 T1 tax returns.

What are the tax consequences when you sell your home, a personal use property, for a loss or make a bundle on grandma’s antique silver goblets, a listed personal use property? Here are the rules.

A follow-up on excellence at CRA. MFA, DFA-Tax Services Specialist, Alan Rowell, reporting.

If you haven’t yet read Malcolm Gladwell’s Outliers: The Story of Success, we highly recommend it. In it you’ll learn about the magic number for greatness: 10,000 hours of hard practice.

When it comes to tax preparation, it’s important to clearly understand the definition of employed vs. self-employed.