Here are more tips you should know to protect yourself from tax scams. If you receive a call saying you owe money to the CRA, you can call the CRA (using the phone numbers listed on their official website) or check your My Account to verify.  If you have signed up for online mail (available through My Account, My Business Account and Represent A Client), the CRA will do the following: -      send a registration confirmation to the address you provided for online mail service for an individual or a business; and -      send an email to the address you provided...
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During the tax season, there are many tax scams popping up everywhere.  And if you fall for these tax scams, it can cost you a very pretty penny! So know how to protect yourself! First and foremost, if you receive an email, phone call, letter or text message claiming to be from the CRA asking for personal information such as SIN, credit card number, bank account number or passport number, THIS IS A SCAM! You must always remember that the CRA will NEVER do any of the following: -      Send an unsolicited email with a link and ask you to divulge...
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Yes, as taxpayers, we have rights! And it is always good to know what our rights are especially as we get into the thick of things during the tax season. Taxpayer rights are all described and defined in the Taxpayer Bill of Rights – all 16 of them. The Taxpayer bill of rights describes the treatment you are entitled to when you deal with the CRA. Here are your rights as a taxpayer: 1. You have the right to receive entitlements and to pay no more and no less than what is required by law2. You have the right to service...
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As many of us prepare to file our tax returns, we want to give a refresher of one of the many ways you can maximize your tax savings – Income Splitting.Income splitting is a key factor in tax planning. Income splitting allows both spouses to stay in a lower tax bracket by shifting some income from the spouse in the higher tax bracket to the other spouse in the lower tax bracket. The goal in the end is to lower the amount of total family tax paid/payable.It is possible to split many types of income, including income from the company, investment...
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