Since July 15, the "Authorize a Representative" service in EFILE, accessed through tax software, will no longer be available. Tax professionals must now use the Represent a Client (RAC) portal to request online access to a client’s account.
The Canada Revenue Agency (CRA) is making it easier for corporate taxpayers to determine if they qualify for the Scientific Research and Experimental Development (SR&ED) tax incentive program.
Keep an eye on net income, Line 236 of your T1 return. It’s one of the most important lines because of its impact on the size of your refundable and non-refundable tax credits.
Do you believe Canada’s tax system based, on self-assessment, has suffered under recent changes at CRA and by Finance Canada? If so, what is the one wish you have for tax reform?