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:Pots of Lottery Gold Taxable for Some!
Tax tip of the week
TFSA – (Perhaps Not) A Ticking Time Bomb? - Part 2
Last week, we looked at the TFSA helping those who pay taxes on investment income. This week in part 2, we will look at savings opportunities for the middle class.
Where Is My Refund and Who Does CRA Share it With? Part 2
Taxpayers and their advisors may consider this question more frequently as CRA pushes for more electronic communications, such as the provision of email addresses on this year’s tax return.
What Most People Don’t Know About Principal Residences (But Should) – Part 1
This week I had a discussion with a client about what would happen when either he or his wife passed away.
The “Cost of Borrowing” via Non-Compliance
The one thing about an electronic age – computers do exactly what they’re told to do – right or wrong!
Trust Funds Belongs to Bankrupts’ Creditors
The Supreme Court of British Columbia recently ruled that a bankrupt’s contingent entitlement to trust funds was property that vested with the trustee in bankruptcy as part of the bankrupts' estate.
