Seniors Targeted? The Tax Audits Begin
The Canada Revenue Agency (CRA) routinely reviews or audits tax filings, including personal, trust, corporate, and HST returns. The most common types of reviews that focus on personal tax returns include, but are not limited to, Pre-Assessment Reviews, Processing Reviews, and the Matching Program. This year there is a new focus: the Multigenerational Home Renovation Tax Credit introduced to help families better care for their elders. But claiming it, like other tax benefits, comes with a tax snare. Read on to learn more.Third Quarter Interest Rates and PLOI
On June 12, 2014 CRA announced the prescribed interest rates for the 3rd quarter of 2014 (July to September) will remain unchanged from the 2nd quarter.
The Folly of Feeble Tax Appeals
A recent decision of the Tax Court of Canada serves as a caution to taxpayers who appeal their reassessments on feeble or fabricated grounds: parties who do so may face costly consequences.
Evelyn Jacks: Illness is Expensive; Tax Savings Can Help
One of the most common yet most missed provisions on the personal tax return is medical expenses, and in an aging demographic, they are more prevalent.
Relationship Breakdown: Claiming Non-Refundable Tax Credits
After a relationship breakdown, there are some general rules on who claims in sole or joint custody cases.
Rental Property: Capital Cost Allowance and Multiple Owners
Are you considering jointly owning property to rent with one or more other people? Before doing so, it’s important to consider the structure of your ownership agreement.
Author Bill Bishop Brings “Big Idea Thinking” To DAC
Bill Bishop brings his unique insight on sales strategies to the 2014 Distinguished Advisor Conference as part of The Next BIG Idea: How To Sell A Lobster.
