Helping First Nations, Inuit and Metis with Tax Filing

The Canada Revenue Agency is trying to reach out to Canada’s First Nations, Inuit and Metis to encourage them to file their tax forms on time and could use your help to make sure these communities get all the tax benefits they are entitled to. But filing tax returns are not always easy, especially when there is income on and off the reserve.

According to a recent survey, more than 56% of Canadians do not plan to contribute to an RRSP this year and an additional 12% are unsure if they will.  That potentially means that more than two thirds of Canadians could be at risk of overpaying their taxes or worse, having important social benefits clawed back in this second year of the pandemic. Tax and financial advisors can help by preparing “what if scenarios” before the March 1 contribution deadline.

Tired of long hours on hold with CRA? There’s good news, CRA has extended call center hours and call back services.  While CRA is advising people to go to their website before calling, they’ve also contracted with a third party to help with general questions about pandemic supports. Will these changes help improve service standards for tax season?

The next three months of 2021 are chocked full of important tax filing milestones.  Be sure you help your clients mark their tax calendars and schedule a virtual or phone meeting with you.  Here’s a handy tax milestones calendar from Knowledge Bureau.

Given the financial stress people are under during the second wave, should governments suspend audit activities and waive penalties and interest in 2021”? That was last month’s poll question and an overwhelming 75% said yes. However, of those who said no, there were some strong words of disapproval:

In our 18th year, we are excited to officially welcome you to pre-registration opportunities to Knowledge Bureau’s annual strategic educational conference for professionals in the tax, accounting, bookkeeping, and financial services.   

Canadian groundhogs may have mixed opinions on whether or not it’s going to be a long winter. But on a year that has often felt like we’re experience the Groundhog Day phenomenon, we decided to bring you our best sale of the year so far to ensure there’s something to celebrate – and you can still take advantage of this today! Take any two certificate courses for only $595 each (save 34%) – but act fast, as this promotion ends today! Use this proficiency guide for individuals and business training needs to select your next courses!