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Post by kevlar on Mar 28, 2024 17:01:13 GMT -6
So what’s the point of this? Can anyone explain it to me in a language I can understand? From what I get it’s another yearly expense for us and another bonus for the accountant, sounds complicated, likely end up in all of us paying more taxes, and in typical government fashion it was sprung on everyone without near enough time to get it done but the government is being so generous now and extending the timeframe to get it done 👍. I’m so sick of everything involving taxes. Seems like the only ones ever getting ahead are the government and the accountants. I already pay a sickening amount for getting my taxes done, I’m sick of more crap getting piled on every year.
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Post by SWMan on Mar 28, 2024 23:37:23 GMT -6
Point is to make everyone a criminal, at least that's what it's looking like these days.
Some accountants are advising doing nothing on this, once you start it's impossible to get off the treadmill. This has been dropped in the lap of the accounting industry, and they can't even get a straight answer.
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gleanerl
Junior Member
Posts: 97
Likes: 95
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Post by gleanerl on Mar 29, 2024 5:17:24 GMT -6
A Lawyer friend once told me there are so many written laws that everyone has already broken several before you even get out of bed.
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Post by cptusa on Mar 29, 2024 11:01:34 GMT -6
A Lawyer friend once told me there are so many written laws that everyone has already broken several before you even get out of bed. That's what I called a good start to the day. |
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Post by kevlar on Mar 29, 2024 11:12:48 GMT -6
Or a good end to the night!
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Post by cptusa on Mar 29, 2024 20:14:27 GMT -6
Or a good end to the night! I'm too old to end the day in the morning. |
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Post by slipclutch on Mar 29, 2024 21:06:14 GMT -6
Me too I’m old. I like to be hard in the mornings. Makes me feel young!
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Post by slipclutch on Mar 29, 2024 21:08:19 GMT -6
Wait a second… what are we talking about again?
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Post by kevlar on Mar 29, 2024 21:32:02 GMT -6
I’m getting the impression that everyone else understands it as well as I do 😂.
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Post by hardrockacres on Apr 1, 2024 6:56:32 GMT -6
I think it is jsut another way for the gov to know what you all have asset wise. Then they can figure out a way to tax you on it later. Crypto didnt go as well as they thought to get an idea of everyones non registered accounts so this was set up to gain that info...then expanded on to get a list of all assets and how they are held. Similar to the gun registry that they said they would never use, and destroyed the records, do you really think they did??? I dont.
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gleanerl
Junior Member
Posts: 97
Likes: 95
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Post by gleanerl on Apr 2, 2024 5:27:52 GMT -6
Apparently it was quietly cancelled late last Thursday just before break for Easter weekend while media weren't around. For this year anyways.
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Post by Lucas @ Wilger on Apr 8, 2024 11:11:50 GMT -6
Yeah, a lot of accountants already did the work on it, and filed, and then it quietly got cancelled. Wanna say it was probably a $600 bill to just file for the bare trust.
It was a whole lot of wonky, as it didn't even need a record of the assets at all. Just recorded the owner's info, and that was it.
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Post by kevlar on Apr 8, 2024 20:16:49 GMT -6
Yeah, a lot of accountants already did the work on it, and filed, and then it quietly got cancelled. Wanna say it was probably a $600 bill to just file for the bare trust. It was a whole lot of wonky, as it didn't even need a record of the assets at all. Just recorded the owner's info, and that was it. So it’s been completely scraped? MNP said it was going to cost $500 if I remember correctly and then there was something else in the letter they sent, I honestly never read too deeply into it, I was sick of it when I seen the $500 part. Maybe for once it paid off to be doing everything right at the deadline because I never got it done!! |
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Post by hardrockacres on Apr 9, 2024 6:37:31 GMT -6
I think it is delayed until they figure it out at the CRA level My sister is CA and she talked to 2 managers at CRA along with a lawyer and none of them understood what was all needed or how to get everything filled out properly. She had spend a fair bit of timeon this for her other clients and is not impressed but according to her this is par for the course for the tevenue agency. The lawyer even suggested not submitting it, (prior to them delaying it). As he said they dont knwow how it is to work so they wont be going after you for anything. Alot of wasted time for her going back and forth between clients to get everything in place to have it moth balled right at the deadline.
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