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.

David Russell, MBA,CFP, CIM, FCSI posted the following to the LinkedIn page of Evelyn Jacks, founder and president of Knowledge Bureau.

Barb Reimer from Calgary, Alberta recently completed Elements of Real Wealth Management and she believes the course will improve her preservation practices.

As the calendar year changed on January 1, so did the Tax Free Savings Account (TFSA) contribution room available to all adult residents of Canada. 

CRA recently published the prescribed allowable mileage rates for simplified travel deductions and determined that it was cheaper to drive in Alberta in 2014 than the previous year. 

2015 TD1, Personal Tax Credit Return and T1213, Request to Reduce Tax Deductions at Source for Year(s) ___

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