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:

Enhanced disclosure for scholarship plans

It is becoming easier to understand and invest in scholarship plans, thanks to new, enhanced disclosure requirements.

Travel expenses for medical, moving and Northern residents deduction claims

The Canada Revenue Agency (CRA) seems to think it cost less to operate a vehicle in Canada in 2012 than in 2011.

Evelyn Jacks: Tax protestors pay the price

The Canada Revenue Agency (CRA) has proved once again: there is no escaping your responsibility to pay income taxes.

Putting “goodwill” to work for you

Understanding the concept of “goodwill” will work to your advantage, as Greer Jacks explains in this first of a two-part series.

Lifestyle Column: 10 Neat Things

This week: 10 neat things about light.

Do you have to report income from foreign sources?

In some countries, such as the United States, taxation is based on citizenship. In Canada, however, the government levies income taxes based on residency. 
 
 
 
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%