CRA’s Callback Service for Tax Pros Pilot
Are you a tax professional with years of experience? Have you ever felt frustrated after calling the CRA, having spent hours on hold, wasting your client’s or employer’s time, only to speak to CRA agents who aren’t qualified to answer your questions? The Auditor General of Canada was equally displeased in a scathing report last fall on wait times and accuracy levels at the CRA. Now a new CRA callback service may come to the rescue this tax season. Here is my experience with the pilot project so far:Working with Foreign Charities Requires Proper Records
Donor beware: A charity’s charitable status can be revoked if the charity does not maintain the direction and control of its assets when dealing with another foreign charity intermediary. This requirement was underscored in a recent case at the Federal Court of Appeal (FCA).
Refugee Crisis: Talking Philanthropy with Your Clients
Canadians donated close to $11 billion to charity in 2010 according to Statistics Canada. Becoming more philanthropic and giving more to causes that are important to them, like the current refugee crisis or environmental issues, should be top of mind in year-end tax planning conversations, given the significant tax rewards associated with giving.
From Transitions to Year-End Planning: Business Growth and Group Rates Featured at Fall DAW
Mark your calendar for the last week of October. Knowledge Bureau’s Fall Distinguished Advisor Workshop (DAW) promises some exciting and educational programming on issues your business clients commonly face.
CRA Loses On Personal Services Business Rules
C.J. McCarty, was a specified shareholder/employee of the company, C.J. McCarty, Inc, (CJ,Inc.); he had only one client over a three month period of time, MEG Energy Corporation (MEG) and he received a fixed hourly rate for his services as the construction manager of a major project.
Tax Preparer Extradited For $10 Million Tax Fraud
The Canada Revenue Agency (CRA) recently extradited a tax preparer back to Canada from Italy and put her into custody to serve a 10-year sentence for tax fraud after she claimed $58 million in false carrying charges and charitable donations on over 4,000 returns.
Caregivers Need More Help
Many of us are blessed to have older family members enriching our lives, but they often require a significant amount of care, and their caregivers can, in turn, require more help. At a time when politicians and potential leaders debate subsidized child care, are we missing an opportunity to discuss whether the tax system is doing enough to recognize the real and increasing costs of elder care?
