Time’s Up: CRA’s 100 Day Mandate for Improvement

After years of frustration on the part of tax professionals and taxpayers alike, the Finance Minister ordered the Canada Revenue Agency to clean up its act in 100 days. Specifically, the improvement plan was to run from September 2 through December 11. Finance Minister and Minister of National Revenue, Francoise-Phillippe Champagne instructed CRA to fix “unacceptable wait times and service delays.” Time’s up this week and CRA has released an update on progress. What gets measured, gets done. Let’s see what CRA’s metrics show. 

With a new school year around the corner, you may be considering taking in a university student as a renter. If so, you will want to get your documentation ready for a change in your tax filing.

Over the past several years, corporate income tax rates have decreased which has affected reporting by individual investors on their personal returns for dividend income. 

Sarah is 67 and earning all her income in the lowest tax bracket. She has not yet started withdrawing money from her significant RRSP, which holds $800,000. When should she start? How much should she take into income?

When a taxpayer's income falls into a clawback zone, a portion of a social benefit like OAS or EI must be repaid.

Knowledge Bureau is pleased to provide new opportunities for practitioners in the tax and financial services to embellish their skills this fall with new programming and special "early bird' tuition rates for online registrants. Enrol by Sept 15 for best pricing of the year.

What are the differences between various types of real estate investments that are available to investors?