Wildfires: Apply for Taxpayer Relief Provisions

It may not be the first concern, but Canadians affected by wildfires may worry at some point about the tax consequences of lost records or missed filing deadlines – the next one on June 16 for those filing T1 returns with proprietorship income. Fortunately, the CRA offers Taxpayer Relief Provisions when there are circumstances beyond a taxpayer’s control, including natural disasters, serious illness or death in the family, or errors made by the CRA, which may trigger penalties and interest due to late or incomplete tax filings. Here’s what you need to know.

As part of the federal government's commitment to financial literacy, the website of the Financial Consumer Agency of Canada is now home to the innovative Your Financial Toolkit.

"Shell companies” — those companies that exist only on paper and possess no real employees or assets — can be used legitimately, but a new study reveals just how easy it is to set up a shell company for illegal purposes.

At Thanksgiving we gather to share our gratitude withthe people who support us all year long, family and friends—yes, but also our wonderful staff.The tax system makes it easy to do so; employers can selectfrom a series of tax-free benefits, to show their appreciation for their staff's contribution.

DISTINGUISHED PRACTICES: Tips for Real Wealth Managers™. A July Tax Court of Canada decision clarified the importance of the location of a business for the purpose of tax exemption.

 As part of its Red Tape Reduction efforts, the Canada Revenue Agency (CRA) has created a dedicated team that is charged with cutting red tape for small businesses, thereby enhancing service.As part of its Red Tape Reduction efforts, the Canada Revenue Agency (CRA) has created a dedicated team that is charged with cutting red tape for small businesses, thereby enhancing service.

Are you disappointed and confused by all of the promises and claims made by the investment industry and the media? So is David Christianson. In Managing the Bull, he gives readers the tools to develop their Winner’s Mindset about money, and achieve financial freedom on their own terms.