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:

There’s still time to join us today, June 23 at 12 PM CST/ 1:00 PM EST to spend some time discussing how professional advisors and charity professionals  can work collaboratively to enhance the client/donor experience.  Lead by panelists MFA-P™ alumni Candice Jay and Aneil Gokhale, this MFA-P™ Discovery Seminar is one you don’t want to miss!  RSVP now!

Most advisors know how difficult it is to discuss financial matters when there are other issues in the family:  conflict, disability or financial worry. Imagine this barrier:  how to unlock the deep moral injury young people feel about the institutional and generational betrayal of their mindset; in particular, their significant distress about the enormous existential threat they face in their future.  Learn more about why this matters in tax and financial planning with Dr. Britt Wray at DAC Acuity 2022 in Niagara Falls, October 16-18.

Recent MFA-P™ Graduate, Grace Xin shares how taking the MFA-P program has helped build her career as a newcomer in the charitable sector. She says, “charitable giving can be done in so many creative ways to maximize impact while achieving financial goals at the same time. The MFA-P course is an amazing key to open so many doors of strategic philanthropy.” Please join us in congratulating Grace on her achievements and learn more about her story:

Bill C-8 received Royal Assent on June 9, signalling the imminent release of held back 2021 tax returns for those taxpayers making new claims in three specific profiles: educators, northern residents and farmers. In addition, small business owners will be able to claim a new tax credit for building ventilation improvements and non-resident real estate holders will pay more taxes to Canada in 2023.  Here’s what you need to know:

Residents of Alberta, Saskatchewan, Manitoba, and Ontario received the full-year Climate Action Incentive for 2021 when they filed their 2020 tax returns. Eligibility was based on their province of residence and family situation as of December 31, 2020. Did you know that for 2022, everything has changed?

The Small Businesses Air Quality Improvement Tax Credit is now law, and it could be a lucrative return for those who improve their business premises. The business owner can also reach back and make the claim for expenses incurred in 2021. Details follow: