Appeal or Objection to notice of Assessment

To Appeal or Objection to notice of Assessment, you or your Authorized Representative must file a notice of objection. Typically, the bases for appeal are a disagreement with the assessment or a dispute over how the CRA has interpreted the income tax law.

You must file your notice of objection within one year from the filing deadline of the tax return in question, or 90 days of the CRA mailing your Notice of Assessment, whichever is later. You’ll need to explain why you disagree and include all relevant facts and documents.

If CRA agrees with you, either completely or partially, it will adjust your tax return and send you a revised Notice of Assessment. Otherwise, you’ll get written notice confirming the original tax assessment.

Professional Fees

Deduction for the fees you incurred for external professional advice or services, including consulting fees.

TaxPayers can deduct accounting and legal fees you incur to get advice and help with keeping your records. You can also deduct fees you incur for preparing and filing your income tax and GST/HST returns.

You can deduct accounting or legal fees you paid to have an objection or appeal prepared against an assessments. However, the full amount of these deductible fees must first be reduced by any reimbursement. If you received a reimbursement in the subsequent tax year add them in that year as other income.

You cannot deduct legal and other fees you incur to buy a capital property. Instead, add these fees to the cost of the property.

Fore more information on Assessments, or Authorized Representatives or if you would like to contact us with us a recently received notice of assessment

Importance of the Spouse as Beneficiary

To the extent that assets have appreciated in value. There is likely capital gains that taxes have not yet been paid. These assets should generally be left to the spouse, or a qualifying spouse trust is an example of Importance of the Spouse as Beneficiary and good tax planning in the will. That way, the property “rolls over” to the spouse (or spouse trust) without immediate tax. Otherwise, the assets will usually be treated as if they had been liquidated at current market values.

Tax Planning the Will

It is generally recognized that everyone should make a will; it is, however, not always recognized that doing so can often be the occasion for tax planning the will.

About Expert Fiscaliste

Save Your Tax — Contact Expert Fiscaliste

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts. If you want to take advantage of our services for your tax return. Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

CRA Tax Review Letter

Canada Revenue Agency (CRA)

may contact you about your recently filed tax return. This is called a tax review — it is not the same as a tax audit they generally provide you with 30 days to comply. Failure to not meet this deadline may lead to an reassessment or tax audit if the CRA is not satisfied with your response to the review.

3 types of tax reviews

Pre-assessment review –After you submit your tax return, the CRA may review the deductions and credits you claimed. The CRA conducts these reviews before it sends you a notice of assessment and possibly a refund. These reviews usually take place between February and July.
Processing review program – This is similar to the pre-assessment review, except for timing. The CRA conducts these reviews after it sends you a notice of assessment, usually between June and November.
Matching program – These reviews take place after the CRA sends you a notice of assessment, usually between September and March. The CRA compares information on your tax return with information provided by third parties like your employer, banks or investment firms.

Authorized Representatives

CRA Tax Review Letters take place at different times during the year. If you move, it is very important to notify your change in address as soon as possible. If you plan to be away for some time, or if you prefer you have your authorized representative to act on your behalf call us at 514-954-9031.

US Tax Implications of Canadians Investing US Real Estate

Canadians’s have long been investors in US real estate. They have accomplished this by making acquisitions either directly, or using different forms of business entities including corporations, partnerships and trusts.

If you have U.S. real estate interests, are a Canadian resident and have tax questions on:

effectively connected to a U.S. trade or business
U.S. withholding taxes
W-8BEN(s) forms
W-8ECI (s) forms
Canadian Tax Reporting
US Tax Reporting

This may be of interest to you. Contact Tax Experts today!

For more information see 2018 Canadian Tax Implications of U.S. real estate investments by an individual

About Expert Fiscaliste

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.

If you want to take advantage of our services for your tax return. Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

Due date for Self-employed tax return

Due date for Self-employed 2017 tax return for you and your spouse or common-law partner is Friday, June 15, 2018. Any balance owing for 2017 must be paid by April 30, 2018. A late-filing penalty on amounts owing may apply to returns received after the June 15th deadline.

For more information on how to file 2017 your tax return

Exception to the due date of your return. When the due date falls on a Saturday, a Sunday, or a public holiday recognized by the CRA, your return is considered on time if we receive it or it is postmarked on the next business day.

If you can’t afford to pay your balance owing by April 30th, file your tax return on time to avoid late-filing penalties!

Due date to file a GST/HST return

If your reporting period is monthly or quarterly, you have to file your GST/HST return and pay the amount you owe no later than one month after the end of your reporting period.

With annual reporting period, there are two possible rules, depending on your situation:

As a individual and you have a December 31 fiscal year-end, you have to file your GST/HST return by June 15 and pay the amount you owe by April 30
in all other cases, you have to file your GST/HST return and pay the amount you owe no later than three months after the end of your fiscal year

Other important facts

Business Records: If you own a business or are engaged in a commercial activity, keep thorough records. Your records have to give enough detail to determine the tax you owe and support any benefits you are claiming. Claims they must be supported by original documents.
Businesses should always get receipts or vouchers when buying anything for business. Receipts should always have the date, name, address, description, and the vendor business number(s) if they are registered for GST/HST or QST/TVQ.

About Expert Fiscaliste

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.

If you want to take advantage of our services for your tax return. Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

2018 Quebec Budget

2018 Quebec Budget Highlights

2017-2018 Balanced budget = Good
2016-2017 Surplus = Good
Projected 2018/9 GDP 2.1% and 1.7% = Good
Redirection of $2 billion from Generation Fund = Bad
Overall = Good

Click here for more information

cliquez ici pour plus d’informations

It’s that time again let us prepare your tax return for you, click here for more information on your 2017 Tax Returns

About Expert Fiscaliste

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.

If you want to take advantage of our services for your tax return. Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

Your 2018 tax calendar for 2017 returns

Your 2018 tax calendar for 2017 returns –There are important dates and deadlines that apply to all Canadian tax returns.

For more information on your 2017 tax return visit our page

Preparing 2017 Tax Return

Preparing 2017 Tax Return – Let our tax experts help you get every tax refund you deserve because we know how hard you work. This means that we work for you to make sure you get all the deductions and tax credits you are entitled to. As your Authorized Representative offer you year-round tax advice and support with the government authorities.

Let Expert Fiscaliste prepare your 2017 tax returns for you — Call Expert Fiscaliste now at 514-954-9031

It’s that time of the year again-and Expert Fiscaliste offers convenient, accurate, and affordable preparation of all types of tax returns. We’re equipped to handle any tax situation, including personal returns, rental properties, estate/trust, and foreign income. We’ll make sure that you get the maximum refund possible, and we provide you with tax support after the tax returns are filed. Just follow three simple steps. For more information on how click here for our PDF

Preparing your 2017 Tax Return is part of your responsibilities as a taxpayer. Doing your taxes requires filling out many forms to determine if you owe taxes or if you will get a refund. Even if you had no income in the year, you have to do your taxes to get the benefits and credits you might be entitled to. For example the GST/HST/QST tax credits, Canada child benefit, working income tax benefit, and other benefits and credits. Using a tax professional simplifies the process and can increase the credits and benefits that you may be entitled to.

Let Expert Fiscaliste prepare your 2017 tax returns for you – Most Canadians have to fill out their return, send it, and pay any tax owing it to the governments no later than April 30th, 2018.

For more information on Preparing your 2017 Tax Return visit our page Tax or Call Expert Fiscaliste at 514-954-9031.

2018 Tax Calendar Individuals

2018 Tax Calendar Individuals – There are important dates and deadlines that apply to all Canadian tax returns that are required in the 2018 Tax Calendar for Individuals for the 2017 fiscal taxation year.

2018 Tax Calendar Individuals – Planning for these dates are very important in avoiding inquiries from government authorities, and potential interest charges and penalties. We have provided general dates on when tax slips should arrive, when tax payments are normally required, and when tax returns normally are required to be filed. We encourage you to consult with an independent tax professional to confirm the relevant deadlines and the anticipated implications to your particular situation.

Call Expert Fiscaliste now at 877-542-2130 or visit us at www.expert-fiscaliste.org — Call Expert Fiscaliste now at 877-542-2130

Let let us prepare your tax returns for you. Our tax experts help you get every tax refund you deserve because we know how hard you work. Call 877-542-2130. Our tax experts help you get every tax refund you deserve because we know how hard you work. This means that we work for you to make sure you get all the deductions and tax credits you are entitled to and offer you year-round tax advice. For more on Preparing 2017 Tax Return visit this page https://www.expert-fiscaliste.org/2017-tax-return/

About Expert Fiscaliste

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.

If you want to take advantage of our services for your tax return. Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

Offshore financial structures

Offshore financial structures – Canada Revenue Agency – Statement

In the wake of renewed media attention concerning offshore financial structures, the Canada Revenue Agency (CRA) has delivered the following statement to inform Canadians on the work and progress being made to combat tax evasion and tax avoidance. The CRA is also taking the opportunity to highlight the important work Canada is doing on the world stage through increased cooperation and collaboration with its international partners to better combat those hiding their assets offshore.

The Government understands that tax evasion and tax avoidance are multi-billion-dollar issues, and it has made a billion-dollar investment to tackle it. Almost two-thirds of the CRA’s audit fiscal impact of $25 billion over the last two years was from audits of international, large business and aggressive tax planning activities. The CRA currently has more than 990 audits and more than 42 criminal investigations related to offshore underway.

This investment has signaled to Canadians that the CRA continues to expand the tools it has to better ensure the integrity of the tax system so that no one avoids paying their part to support the services and quality of life Canadians expect.

The CRA is ensuring that those who choose to break the law face the consequences and are held accountable, starting with tax professionals who facilitate non-compliance – the CRA levied more than $44 million in third-party penalties on tax advisors last year and there are presently a number of criminal cases under way. The Agency has a full-time dedicated unit focused on offshore non-compliance and we are reviewing money transfers over $10,000 between Canada and four offshore jurisdictions such as the Isle of Man. In addition, the CRA is risk-assessing 100% of large multinational corporations, analyzing the tax affairs of risky high-net worth taxpayers, and working with credible paid informants.

If you would like to discuss a offshore financial structures with us, please call us 877-542-2130 or fill in the form https://www.expert-fiscaliste.org/contact-us/

For more information https://www.canada.ca/en/revenue-agency/news/2017/11/statement_by_thecanadarevenueagency-offshorefinancialstructures.html

About Expert Fiscaliste

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.

If you want to take advantage of our services for your tax return. Give us a call at 514-954-9031, or visit our Contact Tax Experts page.

Appeal or Objection to notice of Assessment

Professional Fees

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Importance of the Spouse as Beneficiary

About Expert Fiscaliste

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CRA Tax Review Letter

Canada Revenue Agency (CRA)

3 types of tax reviews

Authorized Representatives

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US Tax Implications of Canadians Investing US Real Estate

About Expert Fiscaliste

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Due date for Self-employed tax return

Due date to file a GST/HST return

Other important facts

About Expert Fiscaliste

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2018 Quebec Budget Highlights

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Preparing 2017 Tax Return

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2018 Tax Calendar Individuals

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Offshore financial structures – Canada Revenue Agency – Statement

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