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As of January 2013, tax preparers who receive payment to prepare more than 10 income tax returns in a year will be required to file those returns electronically.
Canada and the United States are working toward improved cross-border tax compliance.
The Crown has appealed a recent Tax Court of Canada (TCC) decision that ruled penalties were criminal in nature, not civil. If the ruling is upheld, advisors will come under increased scrutiny.
If you are disputing a re-assessment of your income tax filing with the Canada Revenue Agency (CRA), failing to choose the appropriate appeal procedure can prove very costly.
Look for slower growth in gross domestic product (GDP) in 2013 before it picks up again in 2014, say private-sector forecasters.