AUTHREP Changed July 15
Since July 15, the "Authorize a Representative" service in EFILE, accessed through tax software, will no longer be available. Tax professionals must now use the Represent a Client (RAC) portal to request online access to a client’s account.Tuition or Canada Training Credit?
Starting in 2020, most taxpayers between the age of 25 and 65 began earning an entitlement to the Canada Training Credit of $500 per year. In order to claim the credit, the taxpayer has to have eligible tuition fees for the year. So, what’s the difference between claiming the tuition credit and the Canada Training Credit?
CE Summits September 21: Managing Audit Trouble Spots
With the "ramped-up" activity of the Canada Revenue Agency ("CRA") relating to taxpayer audits, you and your clients will want to take pre-emptive measures to manage potential audit trouble spots.
DAC Acuity 2022: Building Momentum from the Executive Suite
Change is difficult at the best of times but today, it’s harder, especially for business leaders, owners and managers.
Grads Earn Tuition Bonuses with New Workplace Training Division
Did you know that our newly revamped VIP Affinity Program is still available to Knowledge Bureau graduates?
Good News: Disability Tax Form Finally Updated
CRA has finally released the updated Disability Tax Form for the 2021 tax filing year which ended April 30 for individuals and June 15 for proprietors. Medical practitioners who complete Part B of form T2201 Disability Tax Credit Certificate using the digital application process will find that it is now updated to reflect the expanded eligibility criteria for mental functions and life-sustaining therapies, particular interest to diabetics and their caregivers. Here’s what you need to know:
OECD: Canadian Taxes Are High, But Unemployment is a Bigger Issue
Canadian taxpayers pay substantially higher taxes on personal income, profits & gains, corporate income & gains, payroll taxes and property taxes than the Organization for Economic Cooperation and Development (OECD) average, based on 2019 statistics. Reflecting the environment prior to the pandemic, Canada’s economy was doing well and unemployment was at 5.7% - the lowest annual level on record at that time, according to Statistics Canada. Women and working boomers seem to have suffered the most fallout from the pandemic, but GenXers were not immune to the economic pain either.
