Description: The Canada Revenue Agency (CRA) had said they would make income tax preparation easier for Canadians. Globe and Mail columnist Rita Trichur has noted an inconsistency in the plan though: CRA has doubled the size of the form from four to eight pages. As she says, “Folks, it’s hard to know whether to laugh or cry.” Her suggestion is that Canada join other countries and have the CRA do the taxes for most of us. They already have the information from most Canadians anyway.
Date: March 5, 2020
1) How do you file your taxes? Does it cost you anything?
2) What would you think of having the CRA do most Canadians’ tax returns, perhaps with a simple text message approval like in Sweden?
3) Read the “Ethics in Accounting” text box on page 419 of Wiley’s Understanding Financial Accounting. Were you aware that not remitting payroll deductions to the CRA was considered a form of fraud?