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:

Seniors have the option to defer starting their OAS pensions for up to five years (i.e. starting at age 70 rather than 65). 

We continue our Synthetic Dispositions series this week with a look at indebtedness in exchanges of property.

How would you help the victims of this tax crime? 

Allowing too much erosion up front (before investing and along the way reduces the opportunity to accumulate, grow, preserve, and transition wealth and cripples the power of compounding.

If uncertainty is king in 2013, how do tax and financial advisors collaborate to help clients understand the effect of today’s investment decisions? 

Shape up in tax bootcamp! Reserve by June 30 to beat tuition increases.