Tax Preparation Services With Capital Wealth Partners

As the focus on RRSP season is over, we turn our attention to the current tax season.   It is important to note that personal tax returns must be filed by April 30^th. We kindly ask that you provide us all documentation at least two weeks prior to the appropriate deadline.

Beginning in 2005, as a means to provide an additional and convenient service at a reasonable cost, we have seen steady growth in this service over the past sixteen years given the overall cost/benefit derived by our clients. We process and submit to the CRA over 300 client tax returns each year; these include estate, self-employed and corporate returns. If you will be taking advantage of this value-added service this year, please try to consolidate your documents in an organized fashion, as this will greatly reduce the time and ultimately the cost to you.  We will, of course, review and check for missing items/opportunities.

To help clients gather and organize their tax documents, we have emailed a package with supportive documents on February 7 2022. This package includes a Letter of Engagement, Acknowledgement Form and a Checklist that outlines exactly what needs to be added to your tax package.  Furthermore, if you have sold a property in 2021, please make us aware of any details – even if you sold your principal residence (which is tax-exempt).  We require these in order to properly process and file your tax return.

All this said, please do not bring in your tax documentation until you have received all tax slips. T3 and T5 slips will not be issued until the first week of March with T5013’s being as late as early April. You now have the option to deliver your tax documents through the Mandeville Vault. The Mandeville Vault offers you the security of sending your confidential tax documents via a secured bank-grade encryption system.

Also please note on October 18 2021, Canada Revenue Agency (CRA) has introduced a new, two- step process to make authorizing a representative using Represent a Client more efficient and secure. The new process makes it easier for clients to confirm who has access to their personal and tax information, helping them play an active role in protecting their information. The new process applies to all new authorization requests submitted through Represent a Client. If we already have your CRA authorization, then you will not be affected.

How it works for new clients

1. The first step is making sure you have My Account or My Business Account. If you haven’t used the CRA’s digital services before, then you will need to register for an account.
2. Once registered, we recommend you enable email notifications to make sure you are notified when you receive a new authorization request
3. You will be notified by email – which someone has requested to their account, you must sign in to you CRA account and confirm the request in order for us to have access to your CRA account.

If you have any questions about utilizing our tax services for the 2021 tax year then please feel free to reach out to Natalie Nunn (nnunn@mandevillepc.com) or Rumi Prince (rprince@mandevillepc.com).

Written By: Rumi Prince