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.

This week: 10 neat things about light.

In some countries, such as the United States, taxation is based on citizenship. In Canada, however, the government levies income taxes based on residency. 

Federal tax returns are required to be filed by all Canadians who have a balance due or file to recover overpaid taxes or refundable tax credits. Provincial taxes for the whole year are based on your province of residence on December 31.

Sharpen your knowledge and access the tools you need to ace your tax preparation — free trial available!

Learn effective and practical money-saving strategies! KBR readers receive $5 off if they order before January 21.

This powerful calculator links your client’s trigger questions: about life events, financial events and economic events with changes needed to get the financial results needed now and in the future.