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:

The Income Tax Estimator is a simple calculator that helps determine total taxes paid for individuals and/or couples based on different combinations of income sources. See it in action with the following what-if-scenario and then try it for yourself, risk-free!

While opinions are split on whether increases to income tax or sales tax would be better, KBR readers largely agree that governments need to be more accountable for their spending and budgeting practices.

Last week in the second part of our Bill C-60 series, we examined the changes to the tax court rules. This week we discuss changes to the discovery process.

The Honourable Jim Flaherty, Minister of Finance, issued the following statement recognizing Disability Awareness Week (May 26-June 1): "Disability Awareness Week offers Canadians an important opportunity to reflect on the varied and significant contributions that Canadians with disabilities make to our country each and every day, and the importance of helping to ensure that they and their families can participate to their fullest in the promise our country has to offer."

Did you know that small firms in the business sector create proportionately more jobs than large firms, especially in the early years of development?

From the late eighteenth century to the present day, solicitor-client privilege has been a topic fraught with varying levels of uncertainty, justification, and support.