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.

Starting July 1, 2014, Canada and U.S. border authorities will now scan your passport when you enter and exit their country to determine how long a person has actually been out of their country of residence in a given year.

The February 11, 2014 federal budget has proposed to eliminate tax benefits of many estates and trusts; one of which is the immigration trust.

Morton v. The Queen (2014) TCC 72. The Tax Court of Canada recently released reasons for judgment in a case regarding the imposition of penalties following the expiration of the normal reassessment periods.

It’s difficult to think pessimistically about the great news released mid-March about our national net worth: it increased by 2.7% to $7.7 trillion in the last quarter of 2013, following a 2.5% gain in the third quarter.

On October 9, 2009 at a presentation in Istanbul, Turkey, Canada’s Finance Minister Jim Flaherty was presented Euromoney magazine's Finance Minister of the Year award for 2009.

Kevin Gebert achieved his MFA-Retirement Income Specialist designation in 2006 and has since been actively involved with Knowledge Bureau, most recently publishing his first book, Financial Fotographs. We are pleased to have Kevin as one of our distinguished grads.