No More Sworn Testimony, But Audits Are Still Stress Inducing
“That” Phrase: it’s one no taxpayer wants to hear – digitally or otherwise. “You’re being audited.” If you’ve had to deliver that news you’ll know that the reaction can range from indignity to shock to panic. Based on the latest piece of legislation before Parliament, you might have to tell more of your clients to buckle up, it’s going to be a bumpy ride. CRA will now have greater powers. Consider this:GAAR Changes: Will You Meet September 30 Consultation Deadline?
An important discussion is taking place in Canada and tax professionals will not want to miss their chance to weigh in by the September 30 consultation deadline. Specifically, the federal government wishes to “modernize” the GAAR – General Anti Avoidance Rules - after a series of 24 losses in court. Here are the issues:
Three New Government Benefit Programs Start in 2022
The Federal government announced three new refundable benefit programs on September 13, which will put extra money in the pockets of individuals and families.
Deadline: Sept 25 – End of Temporary EI Benefits
During the pandemic, the federal government put temporary changes to the Employment Insurance (EI) program in place. These special programs will end on September 25, 2022. Employers will want to refresh their memories both on the pandemic response rules, and now, the return to normal for the purposes of informing management and/or payroll departments who may receive questions from departing employees:
The TFSA is About to Get Better
There may be one silver lining to all this inflation…the Tax-Free Savings Account (TFSA), arguably the best savings vehicle available to Canadians, is about to get even better.
Hedge Inflation Erosion With These Tax Tips
There are four important strategies to maximize income with tax efficiency during both inflationary and potential recessionary headwinds. Consider introducing them to your clients as part of your fall tax filing strategies:
Paul Bates: A Tribute to an Exemplary Man
The financial services industry lost a highly respected member of its community. Dr. Paul Bates, M.T.S., DPT, FCPA, FCMA, CMC who was an exemplary, accomplished man, a fellow financial author and educator, an outstanding humanitarian and family man, and for so many of us, a true and dear friend.
