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:Mark Your Calendars: Retirement and Estate Planning Bootcamp
Reserve your spot now for the September Retirement and Estate Planning Bootcamp. This must-attend event will provide you with the best tools to preserve, grow, and transition wealth tax-efficiently for your clients and to the next generation.
Big Disclosure Issues in Proposed Change to Income Tax Act
Currently the Income Tax Act (the Act) ensures disclosure of taxpayer information by Canada Revenue Agency (CRA) officials is specifically prohibited unless in relation to a criminal investigation or in emergency circumstances.
Taxpayers Can Sue CRA for Negligence
A recent decision of the British Columbia Supreme Court has held that the Canada Revenue Agency (CRA) owes taxpayers a duty of care; this new finding means that taxpayers can now sue the CRA for negligence.
Discovery of Documents in the Tax Court of Canada
Discovery: the process of requesting and receiving relevant documents from the other side is one of the most important stages of any litigation. When the other party is the Minister of National Revenue (the Minister) the discovery stage can seem like a David vs. Goliath type struggle.
Evelyn Jacks: Wealth Planning: Canada a Sweet Spot for a Higher Bell Curve
Lots of great material has been released lately about global and Canadian wealth trends. Three works come to mind as must-reads...
Business Owner Reduces Taxes with Income Splitting
Steve currently makes $84,000 in his small unincorporated business in BC; he wants to pay his new wife Carin half this amount, as they work together in the business. How much will the family save on taxes if they split income?
