From perennial opportunities to new developments, here are tax highlights for the new year
Processing times can take up to 50 weeks: Taxpayers' Ombudsperson
The government was elected in a landslide victory in July 2024 on a promise not to raise taxes on income for working people
Centres now answering 77% of incoming calls, addressing backlogs
Agency tells CPA Canada it will begin reassessing affected returns "shortly"
Tax cut takes effect in July, with biggest savings going to higher earners
Proposed cut to lowest federal tax bracket won't be adjusted to preserve value of tax credits
Projected fiscal impact may be overstated, likely targets may miss the mark
Tax season comes with increased workload, greater costs for clients, risk of errors
Party pitches range from tax cuts and incentivizing investment in Canada to more social supports