WARNING! Falling for a tax scam can cost you.

There’s no doubt about it, we are exposed to a crushing onslaught of scams in the form of letters, emails, and even newspaper ads. They provide ample opportunity for financial turbulence because if you fall for any of these scams you risk your financial security and your identity. Your best defense is knowing what to look for so this month’s newsletter is all about being scam-savvy. 

Know what to look for:

Did you receive an email from the Canada Revenue Agency (CRA) asking for personal information or to click on a link to get your refund?  Did you see an ad in the paper that claims you don't have to pay taxes because you are two different people for income tax purposes? Did someone sell you a donation receipt for less than the donation amount shown? These are all scams.

If you fall for a tax scam, you risk your financial security and your identity. Also, you may not be meeting your obligations under Canada's tax laws. The consequences of your action could range from embarrassment, to inconvenience, to serious legal trouble.

Read this month's newsletter using this link and find out how to be scam-savvy.  http://www.liwanpo.com/pdf/tax_advice/tax%20scam%20alert%202015.pdf#zoom=100

New 2014 Family Tax Credit for Canadians

Once again, we are happy to share good news for Canadians in the form of  tax cuts for families, this time it is immediate and will take effect in the 2014 and subsequent tax years. These changes give parents of children under the age of eighteen a new tax credit option. This new tax  credit comes on the heels of the previously shared Universal Child Care Benefit proposal for 2015 for children under the age of 6. Of course, there are rules and we have outlined them in this month’s newsletter.  

To find out more about how this may affect you this year, use these links to read the complete article ( look for  the red banner on the bottom left of our website home page) on our website, blog or twitter posts:

website:     http://liwanpo.com/index.php