Changes to Paper Filing Disempowering

Last tax season, only 7% of all Canadian tax filers filed on paper. The CRA is pushing for zero. It continues to steer the holdouts to digitized filing by adding lots of obstacles. Most recently, it is removing almost all the schedules from the tax return package it mails. This seems unfair to people who paper file because they can’t afford a computer and internet, distrust the security of online filing and those who are neither tax or computer literate. Here’s what they are up against:

Do you spend money in the course of your work that’s not reimbursed by your employer? Certain employees may, in fact, claim out-of-pocket expenses on their tax returns.

Dean Cockell earned his MFA-Retirement Income Specialist designation in 2008, and since then has been an active Knowledge Bureau alumnus. We are pleased to have Dean as one of our distinguished grads.

Since Nortel no longer trades, how do I dispose of the shares in doing a tax calculation? What would be the ACB, considering there was a reverse stock split before the shares were delisted?

Knowledge Bureau is a national post-secondary educational institute and publisher focused on excellence in financial education. Our mission is to provide professionals and their clients the knowledge and skills to make sound financial decisions in our world class virtual campus.

Miss the Personal Tax Bootcamp? You can still get your copy of the best reference tool to have on hand. Catch up with what’s new at Finance and CRA as well as line-by-line updates on the T1 return for 2013.

Author Catherine Bell will be a featured speaker at several events across Southern Ontario over the next few weeks to celebrate the launch of her new book, Empower Your Presence. Order your copy today and learn how to build true wealth with your personal brand and image.