News Room

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:

Featured Tool: EverGreen Explanatory Notes

Updated with details from Budget 2013, EverGreen is your ever-current online resource for answers to tax questions about personal and corporate tax, and the GST. Be more efficient this tax season with the most current information you need just a few clicks away. View the free demo today!

Featured Event: Audit Defense & Financial Educator Training

Learn the tools you need to defend your clients professionally in an e-Tax Audit. Join us in a city near you this May!

10-8 Plans: Budget Bolsters the Law After CRA Fishing Expeditions Made More Difficult in Court

Today's federal budget proposed to change the law both in respect of 10-8 plans and information required from third parties for the purposes of tax administration or enforcement. Here's the case...

Household Debt Now 165% of Disposable Income

Household debt in relation to disposable income rose to another record last quarter, and many are now wondering whether Mark Carney, Governor of the Bank of Canada, was correct to assert that families are listening to his warnings about the risks of borrowing too much.

Prescribed Interest Rates Remain Unchanged in Second Quarter

The CRA recently announced that the prescribed interest rates for the period April 1 to June 30, 2013 will remain unchanged from the previous quarter.

When Should Young People Learn Financial Literacy?

An interview with Evelyn Jacks, President, Knowledge Bureau, by Robert Martellacci, M.A. EdTech, President & Publisher, Mindshare Learning
 
 
 
Knowledge Bureau Poll Question

Do you agree that public trustees, guardians and departments supporting Indigenous Services should be able to certify impairments for the Disability Tax Credit?

  • Yes
    12 votes
    25%
  • No
    36 votes
    75%