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:

The prescribed annual interest rate that will apply to any amounts owed to the Canada Revenue Agency (CRA) is 5% for the first quarter of 2013, unchanged from the previous quarter.

Claims for the Children’s Arts and Children’s Fitness tax credits are based on when the payment is made, not the year in which the activities are scheduled.

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Help your clients create a charitable giving plan that both meaningfully supports their cause and complements their overall wealth management strategy in a tax-effective manner. KBR readers receive $5 off if they order before December 17.

Unincorporated small businesses have tax preparation and planning requirements that are unique. These small business owners will be looking to you for sound advice during tax time.

Canada is not immune to the problems plaguing global economies and recent government releases quantify the extent of the impact.