Here are some more highlights from the CRA’s Consultation Report: • 43% of respondents are not confident in CRA’s future direction. • Top 5 words associated with CRA: tax, slow, incompetent, bureaucratic and difficult. • 71% of respondents felt that the CRA had not yet reached their service improvement goal. During the consultation, the respondents shared their experiences and interactions with the CRA. Here are some of them: • “I waited one hour and thirty three minutes to speak with someone and one minute into the call he hung up on us.” • "I sat on hold for more than 45...

Last year, the CRA released its consultation report that resulted in its commitment to the following: • Making information more helpful and easier to understand• Providing more convenient access to services and support• Ensure Canadians feel understood, respected and valuedWith over 3,300 online submissions and over 140 participants in 7 in-person consultations, the verdict is in – CRA’s customer service has a very long way to go. Respondents were asked if they have had a service experience with the CRA that did NOT meet their needs. 83% said yes. Note that majority of these experiences occurred over the telephone. Of the...

Happy new year to all! With the new year comes a few tax changes you need to know about. Here is a quick list of the tax changes that are taking effect this 2020: • Basic personal amount: The basic personal amount has increased to $13,229 this year. It will increase to $15,000 by 2023. • Home Buyers’ Plan: Starting this year, individuals who experience a breakdown of a marriage or common law partnership (in the year of making a withdrawal or in any of the four preceding calendar years) will be able to access the Home Buyers’ Plan without having...

The Federal Government has announced the income tax deduction limits and expense benefit rates that will apply in 2020 for automobiles used for business.Most of the limits and rates from 2019 will continue to be used in 2020 including:• The general prescribed rate that is used to determine the taxable benefit of employees relating to the personal portion of automobile operating expenses paid by their employers will remain at 28 cents per kilometer. For taxpayers who are employed principally in selling or leasing automobiles, the prescribed rate used to determine the employee's taxable benefit will remain at 25 cents per kilometer.Only...