Wildfires: Apply for Taxpayer Relief Provisions

It may not be the first concern, but Canadians affected by wildfires may worry at some point about the tax consequences of lost records or missed filing deadlines – the next one on June 16 for those filing T1 returns with proprietorship income. Fortunately, the CRA offers Taxpayer Relief Provisions when there are circumstances beyond a taxpayer’s control, including natural disasters, serious illness or death in the family, or errors made by the CRA, which may trigger penalties and interest due to late or incomplete tax filings. Here’s what you need to know.

The Accounting Place, located in Stoney Creek, Ontario, is looking to fill the position of Tax Accountant, and offering competitive rates. As a Knowledge Bureau Report subscriber, and  member of our extended network, we wanted to bring this opportunity to your attention. Are you looking for a new job in a great industry or do you know someone who is?  Check this out:

Watching the antics of various leaders in the news these days, it’s clear the challenges of leadership are always on display.  Leadership, ultimately is about followers, and ethical leadership is enduring. Exactly how do great leaders develop their leadership styles, and do the right things in periods of great change and much distraction?

It’s not too late: a few spots are left for the January Advanced Tax Update. This  CE Summit is Canada’s best and most comprehensive personal tax update seminar and it comes with significant resources to make tax season easier for you.

Canada has one of the largest projected demographic decreases in the OECD countries.  As the  oldest members of the baby boom generation are now reaching retirement age, Canada has passed a “demographic tipping point,” according to Finance Canada’s December 22, 2017, Update of Long-Term Fiscal Projections. This social sea change brings about a hot new trend in business consulting: accounting for business growth and transition.

Did you know that starting in the 2017 tax year, the federal government has introduced a new Canada Caregiver Credit (CCC)?  It replaces the Family Caregiver Tax Credit, the Caregiver Tax Credit, and the Credit for Infirm Dependants. But, it’s complicated!  Here, in our first tax tip of the new 2018 tax filing season, we offer you a few details:

In December, we asked Knowledge Bureau Report readers, “In your opinion, are tax and financial professionals taking the time to help clients understand the benefits of charitable giving?” In a surprising result, only 17 percent thought their peer group was spending enough time counselling their clients how to make donations in a tax-efficient way.