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:

Advisors should identify clients who have balances owing to the CRA as soon as possible in the new year to ensure they pay off their balance due and if they cannot, to advise on the most tax-efficient way to eliminate this expensive debt.  Interest costs accrue daily at the current prescribed rate plus 4%.  The new rates in effect from January 1, 2023 to March 31, 2023 will increase the cost of a debt to CRA significantly:

Are you renovating your home to make it possible to keep an eye on a senior or disabled adult? Then you’ll be interested to know more about a new refundable tax credit starting in 2023.

Taxpayers need to quickly sharpen financial skills for the challenging times ahead, and a good way to start is to find the right advisor for their future, says Knowledge Bureau Founder and President Evelyn Jacks, best-selling tax financial author and award-winning educator.  It’s also critically important for both parties to invest anew in their financial education, especially tax education, to push back on the economic malaise predicted for 2023. 

Looking to increase your income or revenues in a tax or financial services practice?  Embrace the demand new small business owners of a bustling “side hustle” have for qualified corporate tax services. Kickstart your career, earn more with new credentials and maximize your potential as a confident tax knowledge leader.  Become a Distinguished Master Advisor by taking the new DMA Corporate Tax Services Specialist Designation Program. 

The tax filing season is just around the corner and now is the time to shake out the cobwebs, learn about the “dark horses” of tax theory behind the lines on the new 2022 T1 return and sharpen the skills of your new and returning staff in your tax preparation office.  Register by January 15 for the Advanced T1 Tax Update and check out our new rates for multiple enrolments: 2, 3 or 4 and more from your office.

Most limits on claiming automobile expenses by employees and proprietors will increase starting on January 1. However, you may be surprised to see which limit has not changed.