Tell your clients how a little attention to tax rules up front can go a long way to saving time, money and undue complications down the road.
Canada's Taxpayers' Ombudsman, J. Paul Dubé, has released a report calling on CRA to improve communications related to warning the public about tax shelter donation schemes. He also recommended that CRA monitor trends in the structuring of, and investing in, questionable tax schemes and make such information available to the public in a timely manner.
Almost half of Canadians (56%) use an accountant or professional service to complete their tax returns.
How to file Canadian income tax
Breaks are available for qualifying clients
They can be small, but they add up
Make sure to keep all receipts
The Canada Revenue Agency (CRA) today announced the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts the CRA owes to individuals and corporations. These rates remain unchanged from the last quarter and will be in effect from April 1, 2014 to June 30, 2014.
New homeowner clients should take advantage of two boosts from CRA.
Canada and the U.S. are implementing new border rules, and how officials will track travel has serious implications for snowbirds.