tax compliance

2:00AM
Printer-friendly version

With federal Finance Minister Jim Flaherty poised to unveil his 2014 budget on February 11th, early signs point to a business-as-usual budget with his government staying focused on eliminating the deficit in 2015 and creating the fiscal room to provide tax relief in next year’s budget – conveniently right before the 2015 federal election campaign.


2:00AM
Printer-friendly version

As the stress of the April 30th tax filing deadline fades and the shock realization by most Canadians regarding how much income and payroll taxes they pay subsides, it’s worthwhile considering the costs imposed on Canadians to comply with tax regulations.

All told, governments in Canada expect to collect $586.6 billion in 2013 (fiscal 2013-14). There are, however, significant costs beyond the simple dollars extracted.