Seniors Targeted? The Tax Audits Begin
The Canada Revenue Agency (CRA) routinely reviews or audits tax filings, including personal, trust, corporate, and HST returns. The most common types of reviews that focus on personal tax returns include, but are not limited to, Pre-Assessment Reviews, Processing Reviews, and the Matching Program. This year there is a new focus: the Multigenerational Home Renovation Tax Credit introduced to help families better care for their elders. But claiming it, like other tax benefits, comes with a tax snare. Read on to learn more.Featured Event: Distinguished Advisor Workshop – Audit Defence Bootcamp
Tax audit season begins soon! Ensure you're prepared for any appeal with our Audit Defence Bootcamp. Coming to a city near you this month!
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Featured Course: Tax Planning for Corporate Owner-Managers
Advise private business owners and managers about the best way to manage their compensation to maximize the amount of after-tax income available. Gain a solid understanding of options available when constructing compensation packages, of the salary-dividend-bonus mix to maximize tax efficiency, and of constraints imposed by income tax and other laws so you can provide sound advice to your clients on compensation planning all year long.
Featured Tool: EverGreen Explanatory Notes
EverGreen is your ever-current online resource for answers to tax questions about personal and corporate tax and the GST. Be more efficient with the most current information you need just a few clicks away. View the free demo today!
April 30 Less Than a Week Away
While tax practitioners keep their heads down to finish filing your tax returns, do-it-yourselfers who are procrastinators need to get on it!
Voluntary Disclosure Procedures Change
The Canada Revenue Agency (CRA) recently released an updated information circular (IC00-1R3) pertaining to the Voluntary Disclosure Program (VDP), which promotes tax compliance by encouraging taxpayers to come forward and correct prior errors and omissions.
