ccolesnotes.com

04/12/2025

The Globe has been very kind to the CRA with this article.

Their continuing debacle of an agency causes a ton of work for everyone, but tax accountants are getting slammed again this year due to the perpetuating downfall that is the CRA.

1 phone number for almost 30 million personal taxpayers in Canada for almost every problem one could have tax wise. And continual prompting to call it makes communication impossible, and with the mounting problems, more and more people are continuing to just throw their hands in the air and give up.

I strongly urge everyone I know who has issue with this agency to take it to their MP and demand action… the MPs will not do this without voter presence. We have tried as professionals and we don’t have the traction.

https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-where-are-your-tax-slips-why-so-much-information-is-missing-from-cra/?utm_source=PaidSocial&utm_medium=FacebookAd&utm_campaign=traffic_mkt&utm_term=MCA_ROB&utm_content=keywee-loyaltyscore&utm_id=1&kwp_0=2477954&kwp_4=6892339&kwp_1=2928705&fbclid=IwZXh0bgNhZW0BMABhZGlkAaseOFkmtDwBHpi_URwEBtG_1ExmibVbSex_WAhbDAbkxeQSskSJDahDg27CWPk7xqMxE2qc_aem_woEbMjVHYKKJerMKa664AA

The issue is linked to a CRA systems update that has resulted in some tax-slip providers running into challenges when uploading taxpayers’ data to the government’s secure portal

03/11/2024

For those who own underused housing in Canada.
A long and thorny read, but the tax consequences are high if you must file and don't.
https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/uhtn15/questions-answers-underused-housing-tax.html?fbclid=IwAR3xhrdIAYBYYgf0JOnTUciSnAC32K97wwC48m1Sp8_t8MY2F1bhteStmjY

This page will be updated with additional questions and answers as they become available. Please check for updates periodically.

12/25/2023

Merry Christmas, warm holiday wishes and a happy new year everyone!

11/16/2023

https://www.facebook.com/reel/163048886894269?fs=e&s=TIeQ9V&mibextid=0NULKw

11/01/2023

Big news for those in the know, for those who aren’t in the know this is the government’s way of informing…

If you have any kind of ownership in a home in Canada that produces income, you should definitely look into the rules of the UHT.

Contact CColesNotes.com if you’re one of our clients and require assistance.

https://www.canada.ca/en/revenue-agency/news/2023/10/underused-housing-tax-transitional-relief-period-extended-until-april-30-2024.html

It ensures the greatest chance for accuracy of info exchange, maintains a record of information exchange as well as what was done with the info (even if it’s nothing), and ensure accountability.

10/19/2023

For those of you who have questions about the Underused Housing Tax, this is a highly debated and confusing topic.

There are some answers found here.

Some of the questions are:
If my spouse and I own a rental property, do we have to file the UHT form?
- CColesNotes advises “to avoid being at risk for the $5,000 fine each for not filing, we would say file it with the exemption.

If I have my children on title for my property because we are trying to avoid probate tax when the time comes that we pass, do we have to file the UHT form?
- CColesNotes advises “to avoid being at risk for the $5,000 fine each for not filing, we would say file it with the exemption. AND, you should also be filing a “Bare Trust” T3 to avoid the new minimum $2,500 hit for not filing a trust, because having your children on title of anything more than $50,000 constitutes a trust as per the CRA and all trusts must file an annual return.

More questions answered in the article below.

Answered here

This page will be updated with additional questions and answers as they become available. Please check for updates periodically.

10/17/2023

Black Is The New Red - a conversation about money for Canadians-
We are proud to announce we now the official “Tax Expert” on this page.

Definitely a page worth following if you have an interest in personal finance.

09/04/2023

A vulgar, but accurate explanation of one of many frustrations with Service Canada and the CRA. It’s a daily struggle.

56.4K likes, 4442 comments. “this one really goes places. I want to add the in my letters section in my service canada account it says no letters... 😑 so their "gotcha moment" is even more useless. I hope this helps some people. Gilmore ...

02/09/2023

See you there!

It’s been a very good journey to get here, and we’ve only just begun!

01/29/2023

Tax season is coming up and I get asked this all the time…
How much do you charge?

The answer:
Your taxes are not cookie cutter taxes and the same as everyone else’s.

We start at $135 for basic taxes.

An answer below based on an AI search:

The cost of filing taxes in Canada can vary depending on a number of factors, such as the complexity of your tax situation and whether you are using a professional tax preparer or filing your taxes yourself. On average, the cost for a professional to prepare a basic tax return can range from $75 to $150, while more complex returns may cost more. If you are using tax preparation software or filing your taxes yourself, the cost is typically less, with some options being free. Overall, the cost of filing taxes in Canada can vary widely, so it's important to shop around and compare prices before making a decision...