Podcast: Automatic Tax Filing - Will It Work?

Last week Taxpayers' Ombudsperson François Boileau  tabled his annual report:  In Pursuit of Better Service: Taxpayers Deserve More.  once again, it was nothing short of scathing, as CRA received its highest number of complaints in the last three years.  Calling our “completely nuts” Income Tax Act a potential barrier, he is nonetheless pushing for automatic tax filing as a potential solution.  A new episode of Real Tax News with Evelyn Jacks & Friends available next week, will feature guest Gillian Petit, Ph.D. - author of a great report, Welcome News for Lower-Income Canadians, but There’s More to Do - which takes a deeper dive.  Consider the following:

A recent decision of the Supreme Court of Canada was extremely costly for the appellant and has vast implications for tax preparers and tax advisors across Canada.

The statistics are overwhelmingly in favor of the higher educated when it comes to making the top 10% of income in Canada.

A federal tax credit is possible when children under the age of 16 participate in artistic, cultural, recreational or developmental activities. Even tutoring in academic subjects qualifies under this provision.

Tax changes in the 2015 Federal Budget may bring real value and a level playing field for investments under the stewardship of a charity, making it easier for the good work they do to have a more immediate impact on pressing social and economic needs in Canada.

FOR IMMEDIATE RELEASE – When capital moves from one generation to the next, there are both risks and opportunities.Tax and wealth management expert Tim Cestnick explores this in his session, Bridging Generations with Creative Planning.

On August 19, make sure you check out our Breaking News Issue of Knowledge Bureau Report.