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:

Provincial and territorial budget dates have yet to announced for Ontario (expected the first week in May), Prince Edward Island (expected soon after the legislature opens in April), and Nunavut (expected late in May),

Because of the way that dividends are taxed, both at the federal level and the provincial level, the amount of tax payable on a given dividend depends of the taxpayer’s taxable income (as well as their province of residence).

It’s crunch time when it comes to tax filing. Most taxpayers will have received all their T slips – T4s, T3s, T5s, etc. and now it’s time to actually get it done.

There has been a lot said and written about the state of the middle class, with some people claiming that we are worse off now than we were 30 years ago.

Virtual currencies are becoming more and more popular and tax authorities throughout the world are considering how to handle them.

Knowledge Bureau's faculty and authors have been busy in the media this week!