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:

Evelyn Jacks: The Basics—What You Need to Know About How Income is Taxed

Aside from understanding that Canadian residents are taxed on world income in Canadian funds, there are only a few basics you need to know about the marginal tax rate system in Canada.

Why Tax Strategies are So Important in Wealth Advisory Practices

Tax is a trigger for most clients. It’s complicated, time consuming and requires the meeting of a deadline. It’s also very expensive: it is the family’s largest lifetime expense.

T2 Tax Guide Now Available

The Canadian Revenue Agency (CRA) has published its T2 Tax Guide on its website.

Where are T7DR(A) Tax Remittance Forms?

No paper means no tax remittance forms...

Brush Up on New Form T661: Scientific Research and Experimental Development Program (SR&ED)

The federal budget of Marsh 2012 included proposed changes to the Scientific Research and Experimental Development (SR&ED) Program. 

Worth Reading: Another Extended Period of Dismal Returns?

American Mike “Mish” Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management, who wrote the following analysis of the markets on November 28, 2012. Do you agree or disagree with his sentiments? 
 
 
 
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%