Tax Alerts

During the month of August, millions of Canadians received unexpected mail from the Canada Revenue Agency (CRA) containing an unfamiliar form—a 2014 Instalment Reminder. On that form, the CRA suggested to the recipient that he or she should make instalment payments of income tax on September 15 and December 15, 2014, and identified the amount which should be paid on each date.

The Canada Revenue Agency (CRA) is constantly seeking to enhance and upgrade its online services, and to encourage Canadians to manage their tax affairs through the Agency’s website. Those efforts have taken another step forward with the release of the CRA’s newest mobile app for small and medium-sized businesses.

Recently the Fraser Institute released a study (The Canadian Consumer Tax Index, 2014 edition) indicating that, for 2013, the payment of taxes consumed just under 42% of the average family’s income, and that the tax bill of the average Canadian family had increased by 1,832% percent since 1961. Both were startling figures and the results of the study were consequently widely reported in the media. As with all statistical studies and results, it’s useful to look behind those figures to understand the underlying data and methodology, and how the figures were arrived at.

Living with a significant disability, whether physical or mental, isn’t easy. In many instances, that disability can prevent an individual from working, or limit the person to part-time work, both of which affect financial well-being. In addition, disabled Canadians often must incur expenses not faced by other Canadians in order to enable them to live as independently as possible.

Two quarterly newsletters have been added—one about personal issues, and one about corporate issues.

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