Trade Wars: Why Income Tax Filings Matter More Now
It’s hard not to get caught up in the trade wars saga, and of course it has serious economic repercussions. In times like these, our tax system can help. The federal government has indicated three pillars of support will be enacted, details of which are to come shortly:CRA Letter to CBC: Turn Over Names
On April 12, 2013, Andrew Treusch, the Commissioner and Chief Executive Officer of the Canada Revenue Agency (CRA) wrote a letter to Mr. Hubert Lacroix, President and Chief Executive Officer of the Canadian Broadcasting Corporation (CBC), in regards to the international tax non-compliance information leaks that the KBR described last week.
New Oversight of Banking Complaints Introduced
On April 10, 2013, the Honourable Jim Flaherty, Minister of Finance, announced that new measures were being implemented to protect banking customers in Canada and the new rules will come into force soon: on September 2, 2013.
Evelyn Jacks: A Slippery Slope – Should We Mess with Canadians’ High Voluntary Tax Compliance Rate?
In Canada, we have a tax system based on self-assessment and voluntary compliance. It works extremely well, considering how complex the topic is, with the overwhelming majority of individuals and corporations meeting their obligations on time.
Pre-Consultation Brush Up on Trust Rules
The March 21, 2013 Budget is proposing major changes to the taxation of trusts in Canada, which will have significant family succession planning implications. Here in the first of two articles, Greer Jacks reviews existing rules, which every tax and financial professional may wish to be aware of before the rules are changed in order to participate in fruitful consultations on the matter.
You Can Claim Bus Passes and Other Public Transit Costs
Riding the bus or subway? Remind all family members to keep receipts because you may be able to make a claim on your tax return for the costs.
BC Residents Will See Their GST Credit Cheques Reduced as of April 2013
As a result of reverting from the HST back to the GST and PST system in BC, the provincial HST Credit has been abolished.
