Late Filing Penalties: Talk About It!

While most T1 returns are in the hands of the Canada Revenue Agency (CRA) by April 30, we know many are not. In fact, millions of returns were still outstanding as of mid-May. Late-filing clients they need to know about the consequences, especially if they owe. Here’s a rundown to be aware of:

If you are working as a professional in the tax, bookkeeping or financial services, it is critical to know the upcoming federal budget changes and their effect on personal, corporate and cross border planning in 2017, 2018 and beyond.

Bring Your Relations with Customers to a Higher Level - Rick Green, Master Financial Advisor, AB

"Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort." Franklin D. Roosevelt

Leaving a job can be a painful experience if it’s not your idea.  Often legal challenges erupt. That can be costly. . .but can the CRA provide any relief when legal fees skyrocket?

What do commissioned sales people and Uber drivers have in common?  They each will want to know the difference between an automobile, a passenger vehicle and a motor vehicle, especially if they are keen on claiming all the deductions possible against their income this tax season.  Especially when using a car for salaried work, commission sales or self-employment, it pays to file an audit-proof return, as these claims are often audited.

Along with the sweeping changes to require individuals to report the disposition of their principal residences after 2015, changes to the rules for trusts that own property that is the principal residence of a beneficiary have also changed.  Be prepared to discuss changes in eligibility and to get valuations of property done now.