What's new for tax professionals

ReFILE

ReFILE is a new service, available February 20, 2017, that allows EFILE service providers to submit T1 adjustments online with their EFILE software on behalf of their clients. The service allows adjustments to be made for the 2015 and 2016 tax years, and will expand by 2019 to include the previous three tax years. EFILE service providers should ensure they have Level 2 authorization with their clients prior to using the ReFILE service. NETFILE users will also be able to use ReFILE starting February 2018.

An important change is coming to form RC59 in May 2017

If you use form RC59, Business Consent, to get online access to your business clients’ information in Represent a Client, there are several important things you should know.

Municipal or public body rulings

The Income Tax Rulings Directorate pilot project offering municipal or public body rulings has been extended to December 31, 2017.

Pre-ruling consultations

The Income Tax Rulings Directorate has adopted the pre-ruling consultation as a permanent part of its advance income tax ruling service.  Details of the service are contained in Information Circular IC 70-6R7, Advance Income Tax Rulings and Technical Interpretations.

Exchange of information on tax rulings

As part of the Organization for Economic Cooperation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) project, Canada has committed to the exchange of information with other countries on certain tax rulings. The Income Tax Rulings Directorate has issued Information Circular IC 70-6R7 which, among other things,  outlines the types of rulings potentially subject to this exchange, the process it will follow in performing the exchange and the additional information it will require in respect of requests for rulings within the scope of the exchange initiative.

Partnership with Canada's Professional Accountants (CPA)

The Framework Agreement recognizes the important relationship between the CRA and CPA Canada in the successful administration of Canada's tax system, and promotes regular dialogue between the two organizations on tax-related matters of common interest.

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