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:

A gift (either in cash or in kind) from your employer is an employment benefit. However, non-cash gifts and non-cash awards to an employee for the year with a total aggregate value less than $500 is non-taxable. The total value in excess of $500 annually will be taxable.

Close to 150 professional tax and financial advisors from across Canada are now certified to prepare files to defend their clients in the case of audit as a result of successfully completing the Audit Defence Distinguished Advisor Workshop recently held in Winnipeg, Calgary, Vancouver, and Toronto.

10,000 boomers are turning age 65 every day in America, but are they ready to retire financially?

Canada is growing! We are now  35,056,064 strong, but there is a digital divide between young and old! 

Yes, many of Knowledge Bureau’s self-study courses are recognized by Insurance Councils across Canada.

We continue our Synthetic Dispositions series this week with a look at an example of a Put-Call Collar and the effect of the March 21, 2013 federal budget has on reporting requirements.