The CRA TSlip Saga: An Update

This tax season has been particularly challenging for both taxpayers and tax professionals. The Canada Revenue Agency (CRA) provides tax information slips—such as T3, T4, T5, and their variations—through secure online portals: My Account and Represent a Client (RAC). This year, there were lots of problems with these portals, and now, it appears, CRA is not being quite transparent about when the slips were actually visible to clients and that doesn’t seem fair. Here’s an update on where we stand now.

Even at the end of tax season, some last minute tax tips can help clients and their families win extra dollars this year – or possibly next.  There are some eyebrow-raising write-offs under the category of medical expenses for example, that might make a knowledgeable tax expert the most interesting person around the water fountain.

The 2015 Federal Budget introduced significant changes to Canadians’ finances.  The challenge now for most tax and financial professionals is deciphering these changes and putting them into action in a meaningful way for clients.

Knowledge Bureau is pleased to introduce Murray Leiter, who has recently updated the new edition of the Elements of Real Wealth Management course.

Tax breaks and economic incentives have been peppered throughout Canada’s pre-election budget document with savers, seniors and small business corporations emerging as big winners. 

Self-sufficiency in self-funding future retirements is clearly an issue and the big news coming out of this budget is the opportunity to do so.

How did the Pre-Election Budget help you? We've included several scenario's in this report to help you consider whether you were a winner.