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.

A recent decision from the Saskatchewan Court of Queen’s Bench held that RRSP funds payable to a named beneficiary do not form part of the testator’s (deceased will maker’s) estate.

The interest-free loans Canadians give to their governments keeps rising – it’s up from $1646 in the 2012 tax filing year to $1655 in 2013 – that’s $138 a month that could be going into TFSAs or RRSPs instead.

In order to make a valid will in any province in Canada, the testator (or will maker) must have a sound dispositive mind or testamentary capacity.

Is the gain tax exempt? Solve this case study: Phil and Sylvia have owned their home in the city for 20 years and their cottage at the lake for 10 years in that 20-year period...

The start of the school year is only a short month away, and now is a great time to think about the tax benefits of post-secondary studies in order to be organized come year-end.

Michael Gregory brings his expertise in global economics to the 2014 Distinguished Advisor Conference in his session Sweet Spots in Global Wealth: The New Normal is a New Hybrid.