Subscribing to new posts…

Some of my former subscribers will have noticed that there is no subscription service at this time. New readers may be asking for a way to subscribe.

At present, the email subscription is disabled pending an overhaul of the email subscription service. There is a duplication of the various email lists and I am consolidating the multiple lists to make things easier for everyone.

When the email lists have been consolidated, the old email lists will be shut down and the new will be activated. At that time, I will allow new subscribers.1

Donating

Making a charitable donation is a means of reducing your tax owing. For the first $200 of your donation, you receive a federal credit of 15%. After that, you receive a federal credit of 29%. (Provincial credits will also apply.)

If you want to check out your favourite charity at the CRA, please look at the Charities Listing on their website. You may check out the annual Charitable Returns of any charity at the Canada Revenue Agency’s Charities. Their tax return is public information and is available for any individual to look at.

(Any charity mentioned here is one of 80,000 registered charities in Canada. No endorsement is intended or implied. Please feel free to suggest other charities.)

So you filed… That’s it, right?

Think again...

The Canada Revenue Agency is reviewing the 2016 tax returns. In fact, they are also calling for details on 2014, 2015 and 2016 during 2017.

It is important to note the following:

  • The CRA will provide only 30 days to reply to their request for information. They allow only one extension.
  • The reply must be sent to the same location that requested the information. This may not necessarily be the same as where you filed your tax return or that issued your Notice.
  • Failing to comply with the request will result in a denial of your claim and cause a reassessment of your tax return resulting in a balance owing.

Deducting Legal Fees

It is permitted to deduct legal fees under the Income Tax Act, but only in specific cases and you must ensure that you hold the correct documentation.

If you are using the services of an electronic filer (efiler), you must present the documentation to them prior to the tax return being filed. If you are filing your own return, either paper or electronic, you are required to retain the documentation for six years past the date of the last Notice of (Re)Assessment for that return.