Amid automatic tax filing, a proactive approach is required
U.S. critics continue to push for relief for Americans who own seasonal properties in Canada
Implement these five steps to better serve affluent clients
Housing is one of the provincial government’s three priorities
Late-filing penalties and arrears interest on taxes owing are costly
Other firms are rushing to set up back-office systems and internal procedures for the account
Budget items include an expanded Guaranteed Annual Income System and a promise to review tax system
No new taxes, smaller surpluses predicted over next three years
The taxpayer's penalty for filing foreign account forms late was reduced to $50,000 from $2.72 million
Clients may not know they’re obligated to file, and there is no cap on penalties for late filing if taxes are owed