Observing National Truth and Reconciliation Day

In observance of Canada’s National Truth and Reconciliation Day, September 30, Knowledge Bureau will be closed, to allow staff and students to remember and honour Residential School Survivors, their families, and those who never returned home and reflect on their personal participation on the Journey to Reconciliation.     

There are three certainties in life – death, taxes and change.  So, dealing with the Canada Revenue Agency (CRA) can prove a stressful interaction for both taxpayers and their advisors.  

David Christianson, one of Canada’s Top 50 Wealth Advisors and this month’s featured guest speaker at DAW, says tax or financial advisors have the obligation to make critical conversations about what really matters our clients in the future, happen.

Canada’s tax system is based on self-assessment, but CRA has substantial powers and latitude to assess and reassess those returns as it sees fit, leaving the onus to prove otherwise with the taxpayer.

The government’s financial results will be released for the first quarter of the year no later than May 29, 2015, just in time for Canada’s most comprehensive 2015 tax and wealth planning workshop, featuring five top experts in the area of transition planning.

June 15 is the date of the next quarterly instalment payment for 2015.

The Canada Revenue Agency (CRA) has always been serious about penalizing tax evasion, and they are sharpening their focus on investigating anyone who facilitates or encourages non-compliance.