Podcast: Automatic Tax Filing - Will It Work?

Last week Taxpayers' Ombudsperson François Boileau  tabled his annual report:  In Pursuit of Better Service: Taxpayers Deserve More.  once again, it was nothing short of scathing, as CRA received its highest number of complaints in the last three years.  Calling our “completely nuts” Income Tax Act a potential barrier, he is nonetheless pushing for automatic tax filing as a potential solution.  A new episode of Real Tax News with Evelyn Jacks & Friends available next week, will feature guest Gillian Petit, Ph.D. - author of a great report, Welcome News for Lower-Income Canadians, but There’s More to Do - which takes a deeper dive.  Consider the following:

Due diligence was a big topic at the Audit Defence Bootcamp this past week, as the burden of proof in establishing a due diligence defence rests with any appellant to a CRA challenge.

The Supreme Court of Canada recently held that a partnership’s mandatory retirement policy was not arbitrarily discriminative, as a partner is not an employee.

Income inequality is a noted problem in society, and one covered in this blog recently. But it’s one that is complex and requires a closer analysis.

When is the inheritance from your U.S. based parents taxable and in which country?

Lots of people like to dabble in real estate when markets are hot. The issue for tax filing purposes is whether you held the property for personal use, as a passive investment or whether you are in fact in the business of buying and selling real estate.

Capital losses are important. They can offset capital gains of the year, the prior three years or any future year.