Get Your Knowledge Journal: Learn About the Longest Tax Return in History

At 8 pages, the 2019 T1 return is the longest tax form in history.  It could also be the most complex, says Evelyn Jacks, President of Knowledge Bureau. With tax season beginning, professionals who are not yet familiar need to learn about the changes to the forms, line numbers and the detailed legislation behind them. 

“Filing the T1 tax return for every family member is the critical last step in maximizing after-tax income for 2019. Canadians this year will be surprised by the volume of changes to the return and all the lines in it. Professionals must be prepared to provide answers.”

The Advanced 2020 Personal Tax Update - Knowledge Desk Journal was originally available to CE Summit attendees only. But right in time for tax season, we’ve made it available to purchase for only $395 to help tax professionals get up-to-speed on the many changes that will apply this year.

 “The new tax forms feature a reordering of the data entry numbers on the tax return, together with several important broad-based changes stemming from recent tax and CPP reforms,” says Jacks. “All Canadians, for example, will be required to calculate a deduction for CPP/QPP “enhanced contributions”, as well as the non-refundable tax credit for ‘base contributions.”  These calculations are especially complex when there is an overpayment or an election to stop contributing to the CPP, which requires another 6-page form.  The new rules extend to unincorporated business owners as well.

The dozens of numeric and theory changes and new administrative procedures behind the forms are calculated using new line numbers, which have changed from three to five digits throughout the return.  This is sure to provide a new challenge for both do it yourself-ers and professionals who are used to filing using line numbers to drive the process.

Pick up your copy online today, and save 50% when you buy 10 or more copies.

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