The Canada Revenue Agency is trying to reach out to Canada’s First Nations, Inuit and Metis to encourage them to file their tax forms on time and could use your help to make sure these communities get all the tax benefits they are entitled to. But filing tax returns are not always easy, especially when there is income on and off the reserve.
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It’s important to file the new Form T1135 – Foreign Income Verification by July 31 this year. The Departments of Finance and CRA have been prolific in their steps to close down tax loopholes and this new form is a cornerstone of these activities.
Due diligence was a big topic at the Audit Defence Bootcamp this past week, as the burden of proof in establishing a due diligence defence rests with any appellant to a CRA challenge.
The Supreme Court of Canada recently held that a partnership’s mandatory retirement policy was not arbitrarily discriminative, as a partner is not an employee.