Bill C-31: Royal Asset and New CRA Powers Could Come Soon

Changes are coming to the Income Tax Act and both you and your clients will all be affected with new tax risks including longer tax audits. Bill C-31, which passed second reading in the House of Commons on June 3 and is now at committee stage, contains elements of previous Federal Budgets that will expand the CRA’s compliance and enforcement powers. Here’s what you need to know and pass along to your clients:

Claims for the Children’s Arts and Children’s Fitness tax credits are based on when the payment is made, not the year in which the activities are scheduled.

Join Evelyn Jacks on Friday, November 29 for a live online chat with MoneySense. It's your chance to ask Jacks your burning tax questions and have her respond right away. We challenge you to stump her...don't bet on it! Register for free at moneysense.ca/taxchat.

Toronto, Ontario.  Why are highly educated young people unable to land great jobs and move out of the basement? Is it about youth and inexperience or is it about standing out in a lacklustre economy? Catherine Bell thinks it’s about “Presence.” 

Sharpen and refresh your knowledge in time for the upcoming busy 2014 tax season with the Personal Tax Bootcamp. Enrol by November 30 for best tuition prices.

Just in time for the holidays, Knowledge Bureau is pleased to have our newest books, Financial Fotographs and Empower Your Presence, in stock. Give the gift of financial literacy and true wealth to your clients, family, and friends. Order today!

Be prepared to discuss cross border taxation with a comprehensive general knowledge, as well as recognize and advise on how certain actions on both sides of the border affect a person’s tax situation. Enrol in Cross Border Taxation by December 4 and save $200 on tax deductible tuition fees.