Helping First Nations, Inuit and Metis with Tax Filing

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.

On April 10, 2013, the Honourable Jim Flaherty, Minister of Finance, announced that new measures were being implemented to protect banking customers in Canada and the new rules will come into force soon: on September 2, 2013.

In Canada, we have a tax system based on self-assessment and voluntary compliance. It works extremely well, considering how complex the topic is, with the overwhelming majority of individuals and corporations meeting their obligations on time.

The March 21, 2013 Budget is proposing major changes to the taxation of trusts in Canada, which will have significant family succession planning implications. Here in the first of two articles, Greer Jacks reviews existing rules, which every tax and financial professional may wish to be aware of before the rules are changed in order to participate in fruitful consultations on the matter.

Riding the bus or subway? Remind all family members to keep receipts because you may be able to make a claim on your tax return for the costs. 

As a result of reverting from the HST back to the GST and PST system in BC, the provincial HST Credit has been abolished.

Starting in May 2013, CRA will again begin its Processing Review Program, which initiates requests for supporting documentation for claims made on tax returns.