No More Sworn Testimony, But Audits Are Still Stress Inducing
“That” Phrase: it’s one no taxpayer wants to hear – digitally or otherwise. “You’re being audited.” If you’ve had to deliver that news you’ll know that the reaction can range from indignity to shock to panic. Based on the latest piece of legislation before Parliament, you might have to tell more of your clients to buckle up, it’s going to be a bumpy ride. CRA will now have greater powers. Consider this:More Seniors Than Babies: Eight Drivers Towards a New Tax Strategy
It’s an important cross-over: for the first time, Canada’s 65-year-olds have outnumbered children ages 0 to 14.
FATCA is Here for Good
The first transfer of Canadian banking information to the Internal Revenue Service was completed September 30, as reported last week. That was the result of a September 16 appeal in which The Honourable Mr. Justice Martineau of the Canadian Federal Court in Vancouver ruled that the U.S. Foreign Account Tax Compliance Act (FATCA) legislation is both legal under Canadian law and not inconsistent with the U.S./Canada Tax Treaty.
Family Dynamics Aside, Income Was Reportable
An argument that is mathematically possible will not avail a taxpayer who is found by the Court not to be credible. That was the unfortunate result for a taxpayer who took on CRA in a case of unreported income.
Six Reasons Why: TFSA a Powerful Wealth Builder for Millennials
Last week we discussed reasons why an increased TFSA contribution limit is very helpful in building wealth for seniors. But the TFSA is an even more powerful tool for millennials, who should maximize their contribution room to build a tax-free retirement surplus that is potentially increased by the longer compounding time afforded to the young.
Four Major Trends Affect The Financial Office Of The Future
We’re in the midst of one of the biggest platform shifts in a generation and our data shows that there is a new 24 hour expectation of service that comes with it, says Rachelle Amyotte, Intuit Canada’s Accountant Business Development Leader, who will be a keynote speaker at the Distinguished Advisor Workshops.
Knowledge Bureau Online: an Ambitious New Publishing Program
Knowledge Bureau is pleased to announce another five certificate courses will be published by the end of October to cap an ambitious year of renewal in the content management division.
