Take advantage of tax changes this year

I’m still waiting for the day when the Canada Revenue Agency simplifies our tax forms. Having said this, I realize that simplification could be a bad thing. The taxman could, for example, reduce the personal tax return to one page. Perhaps you’ve seen the proposed layout for that form: Line 1 – Enter your total income. Line 2 – Send it in. This would not be good.

As it turns out, the taxman has, in fact, radically changed our tax forms for this tax season, and there have been other changes, too. Today, I want to share the various changes that could affect your tax filings or tax planning this year….

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