Podcast: Automatic Tax Filing - Will It Work?

Last week Taxpayers' Ombudsperson François Boileau  tabled his annual report:  In Pursuit of Better Service: Taxpayers Deserve More.  once again, it was nothing short of scathing, as CRA received its highest number of complaints in the last three years.  Calling our “completely nuts” Income Tax Act a potential barrier, he is nonetheless pushing for automatic tax filing as a potential solution.  A new episode of Real Tax News with Evelyn Jacks & Friends available next week, will feature guest Gillian Petit, Ph.D. - author of a great report, Welcome News for Lower-Income Canadians, but There’s More to Do - which takes a deeper dive.  Consider the following:

Payroll deduction tables have been adjusted as of July 1 for BC, NB, NL and YK as a result of changes announced in the 2015 provincial and territorial budgets.

There’s a Yin and a Yang to Canadian economic news these days.

There is always someone who believes they’re smarter than everyone else and that the law doesn’t apply to them. The problem is that (aside from the fact in this case that tax evasion is illegal) there is always going to be someone smarter.

Father’s Day is coming up. It’s a perfect time to reflect, cherish and remember the financial wisdom your father instilled in you and how it shaped your life.

How important are a tax and financial advisor’s “soft skills?”  Having deeper conversations about many life components, other than finance, can be an important first step in improving your clients’ lives. 

The old adage says that “money can’t buy happiness.” This is now statistically true.