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 decision released recently from the Tax Court of Canada will be of interest to those seeking to apply for the new housing rebate for a principal residence. Wong v. The Queen, 2013 TCC 23 featured an interesting analysis of subsection 254(2)(b) of the Income Tax Act (the Act) as well as actions from the appellants that is worthy of note.

The Bank of Canada unveiled the latest and last of the new redesigned polymer bank notes this week. The $5 and $10 polymer notes will complete the series that began with the $100 note in November 2011.

Employees who leave their jobs and receive retiring allowances should include an RRSP strategy in their planning to keep more of that money.

Tax audit season begins soon! Ensure you're prepared for any appeal with our Audit Defence Bootcamp. Coming to a city near you this month!

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Advise private business owners and managers about the best way to manage their compensation to maximize the amount of after-tax income available. Gain a solid understanding of options available when constructing compensation packages, of the salary-dividend-bonus mix to maximize tax efficiency, and of constraints imposed by income tax and other laws so you can provide sound advice to your clients on compensation planning all year long.