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. 

For those who become unemployed, Employment Insurance (EI) benefits may be available and they are taxable. In addition, if you are a high-income earner in the year you receive the benefit, these benefits may also be subject to repayment.

Recently, federal and provincial finance ministers met to discuss enhancements to the Canada Pension Plan. Here’s what’s going to change and when.

There are big changes coming for families who get the refundable Children’s Fitness Tax Credit, so use it before you lose it!

With the recent Brexit vote and the US presidential election around the corner, markets are volatile. What hasn’t changed, however, is that for most families, taxes continue to be their largest single lifetime expense. As a result, competent wealth managers with a specialization in both taxes and investment management services are in high demand.

We love sharing feedback from our recent graduates. This week we feature the success of Donald Bieber from Sherwood Park, Alberta, who recently graduated from the Tax Planning for Corporate Owner/Managers course.

Are you providing an evidence-based and unbiased determination of your clients’ risk profile? Unsure? Be sure to register for DAC 2016 to hear Shawn Brayman speak about why this is critically important.