News Room

The CRA TSlip Saga: An Update

This tax season has been particularly challenging for both taxpayers and tax professionals. The Canada Revenue Agency (CRA) provides tax information slips—such as T3, T4, T5, and their variations—through secure online portals: My Account and Represent a Client (RAC). This year, there were lots of problems with these portals, and now, it appears, CRA is not being quite transparent about when the slips were actually visible to clients and that doesn’t seem fair. Here’s an update on where we stand now.

Canadians Make Over $1.1 Trillion

According to a recent Stats Canada National Household Survey, Canadians are very industrious: collectively, 27.3 million of us earned $1.1 trillion, and two thirds of Canadians pay taxes. 

RDSPs: Catch-Up Grants are Available

A good argument can be made for a Registered Disability Savings Plan (RDSP) deposit before year end to maximize government support for the disabled in the family.

Evelyn Jacks: Donate Securities – Review Portfolios for Winners and Losers before December

An effective year-end tax strategy is to donate to charity. Investors can do so by transferring qualifying shares to their favorite charity and avoid capital gains taxes by doing so. 

Real Estate Agent Tests Gross Negligence Definition

The Tax Court of Canada recently allowed aspects of an appeal of one prominent real estate agent in Winnipeg from reassessments made by the Minister of National Revenue (MNR).

RDSPs: Year End Planning News

If you have a client who has a Registered Disability Saving Plan and is receiving disability assistance payments from the plan, a portion of these payments will be shown in Box 131 of a T4A slip and added to income on the 2013 return.

What is the Timeline for Claiming Charitable Donations?

Gifts made by you or your spouse in the current year or in any of the immediately preceding five years can be claimed on this year’s return so long as those donations have not already been claimed.
 
 
 
Knowledge Bureau Poll Question

Are your clients owed money by CRA? As of March 31, 2025, the CRA holds about 10.2 million uncashed cheques totalling $1.7 billion. In your view, why is this happening?

  • Yes
    12 votes
    60%
  • No
    8 votes
    40%