The simplified guidelines introduced in 2021 (2020 taxation year) for employees working from home due to COVID-19 have been extended and two methods to determine the deduction will continue to be available to them. Update: Although we have asked CRA to confirm, it now appears that this change will apply on Janubased on draft legislation released on Febru*. Moreover, time is needed for CRA to consult with stakeholders to ensure concerns can be considered and addressed.” “Tax software developers may need to update their products and tax preparers may need to change their practices. “This is a change that will have a significant impact on taxpayers and preparers,” says Ball. But it would be even more helpful if the implementation is deferred at least until the fall. This is welcome news, says FCPA Bruce Ball, CPA Canada’s vice-president of taxation. While it appeared at one point that this change would be implemented for the 2022 busy season, the government has now clarified that it will not come into effect until July 2022.
These include changes that will allow the CRA to send notices of assessment electronically for individuals who file their T1 return electronically and for those who employ the services of a tax preparer that files their T1 electronically. To improve the Canada Revenue Agency’s ability to operate digitally, the 2021 budget included proposals that would significantly change how it communicates with taxpayers and their advisers. Here are some of the main administrative and legislative changes to keep in mind as we move into busy season. The simplified guidelines introduced in 2021 for employees working from home due to COVID-19 have been extendedĮvery year brings its share of tax updates and 2021 was no different.
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