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:

Household debt in relation to disposable income rose to another record last quarter, and many are now wondering whether Mark Carney, Governor of the Bank of Canada, was correct to assert that families are listening to his warnings about the risks of borrowing too much.

The CRA recently announced that the prescribed interest rates for the period April 1 to June 30, 2013 will remain unchanged from the previous quarter.

An interview with Evelyn Jacks, President, Knowledge Bureau, by Robert Martellacci, M.A. EdTech, President & Publisher, Mindshare Learning

A business owner in Prince George, BC, Kewal Singh Raju (Raju), and his business, Raju Homes Ltd., plead guilty and were sentenced with hefty fines and jail time for income tax evasion. Raju was fined $113,164 and handed an 18 month Conditional Sentence Order. Raju Homes Ltd. was fined $74,366. The fines represent 75 percent of the taxes evaded.

We are pleased to have Pat Foran, host CTV's Consumer Alert and author of The Smart, Savvy Young Consumer, as part of the Knowledge Bureau team. Learn more about Pat and read an excerpt from the Canadian bestseller The Smart, Savvy Young Consumer.

Be the most highly professional tax practitioner with excellent investigative skills (conducting the most exhaustive client interviews) and the best research skills (knowing when and where to look for help). This course is fully updated to the most current Federal Budget!