Changes to Paper Filing Disempowering
Last tax season, only 7% of all Canadian tax filers filed on paper. The CRA is pushing for zero. It continues to steer the holdouts to digitized filing by adding lots of obstacles. Most recently, it is removing almost all the schedules from the tax return package it mails. This seems unfair to people who paper file because they can’t afford a computer and internet, distrust the security of online filing and those who are neither tax or computer literate. Here’s what they are up against:Claiming Medical Expenses: Free Healthcare?
Free Health Care? Did you know that Canadians spend on average more than $1,000 on medical expenses each year? It’s estimated that government programs, via our taxes, cover about 72% of medical expenses, which means that we pay for the rest. Your clients may be over-paying on their taxes because they don’t know about medical expense deductions.
Will CRA’s SimpleFile Help or Hinder Canadians? Most Say It Misses the Mark
Tax and financial advisors in Canada have been sharing their thoughts on CRA’s new SimpleFile system, and their opinions are strong. We asked if they thought the newly revamped automated tax system will help more Canadians access tax benefits and comply with the tax system. 92% said no – why? Check it out below!
Auto Logs: The Cornerstone of the Vehicle Expense Claims
Auto logs are essential for claiming vehicle expenses and travel allowances under CRA rules. Employees, shareholders, and self-employed individuals must follow distinct guidelines, and travel allowances are permitted for specific deductions like moving expenses, medical travel, and northern travel deductions. Trouble is, most people have trouble keeping them, and can fall into tax audit traps. Here’s a primer on the rules, to know as part of year end tax planning activities.
Acuity 2025: Canadians Are Making New Choices About Their U.S. Assets
Canadians are making new choices about their assets in the US. What are the cross-border tax implications? Find out the details you need to know with one of the world’s most knowledgeable cross border experts, Dr. Dean Smith, PHD, CFP, TEP, CPA, CA, RWM™, FDFS™ in a session focused on the Impact of Selling US Properties, only at the 2025 Acuity Conference for Distinguished Advisors in Puerto Vallarta November 23-26.
New: Personal Support Workers Tax Credit Coming Soon
Personal support workers will receive billions in increased wages from federal/provincial governments in B.C., Newfoundland and Labrador and the Northwest Territories. Those workers in other provinces will now get a raise too, but they will have to wait until filing their 2026 returns in the spring of 2027 to cash in, according to an October 27 pre-budget announcement. Here are the details:
Auto Logs: The Cornerstone of Vehicle Expense Claims
Auto logs are essential for claiming vehicle expenses and travel allowances under CRA rules. Employees, shareholders, and self-employed individuals must follow distinct guidelines, and travel allowances are permitted for specific deductions like moving expenses, medical travel, and northern travel deductions. Trouble is most people have trouble keeping them and can fall into tax audit traps. Here’s a primer on the rules, to know as part of year-end tax planning activities.
