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.2015 Return and Schedules Now Available in EverGreen
Although the new T1 Return and Schedules will not be available from the CRA website until January 7, the forms went to print on December 16 and are available in EverGreen Explanatory Notes right now.
Season’s Greetings CRA: Estimated 33,000 letters will be mailed out
'Tis the season and Canada Revenue Agency will once again send out an estimated 33,000 letters to Canadian taxpayers asking them to “reconsider” their prior year’s personal tax return.
CRA Moving to Email Communications in 2015
The new T1 return includes a space to send the taxpayer’s email address to CRA.
Expensive But Worth It
Recently, the Tax Court of Canada (TCC) levied interest and gross negligence penalties against five taxpayers who were shareholders and operators of a family restaurant.
Should OAS be deferred?
This is a continuation from last week's article, "Are You Planning Retirement for your Clients?"
Farmers: Year-End Tax Review Saves Money
Are you spending enough time consulting with your clients who are unincorporated Farmers and Fishers?
