Late Filing Penalties: Talk About It!
While most T1 returns are in the hands of the Canada Revenue Agency (CRA) by April 30, we know many are not. In fact, millions of returns were still outstanding as of mid-May. Late-filing clients they need to know about the consequences, especially if they owe. Here’s a rundown to be aware of:Director’s Liability and Non-Arm’s Length Transfers Featured at Vancouver and Toronto DAW
The Income Tax Act and the Excise Tax Act allow the Canada Revenue Agency (CRA) to transfer the tax liability of a taxpayer onto third parties. There is a very distinct role for the tax and financial advisor in assisting their clients with this issue. This and more will be discussed at the upcoming Distinguished Advisor Workshop (DAW), with featured guest speakers in Vancouver Jan. 22 and Toronto Jan. 25.
Future Practices: End-to-End Online
Knowledge Bureau is pleased to announce that Intuit will join the January Personal Tax Update Workshop tour as a national sponsor. The topic of Scott Zandbergen’s keynote is End-to-End Online Practice Management: Your Firm of the Future. Scott will explain the remarkable changes happening in the tax accounting industry and what’s coming to integrate bookkeeping and taxation details.
