Thursday, April 21, 2022

DELAYING TAX RETURNS OF FARMERS & TEACHERS

 The two credits were then included in Bill C-8, which implements various parts of the Liberals’ 2021 FES. Once the bill passed, the credit would be enabled, barring any major amendments by opposition parties.

But despite the bill being tabled in Parliament last December and the tax credits being added to tax preparation software for the 2021 tax season, the Liberals still have not managed to get the bill through Parliament.

That means the Canada Revenue Agency (CRA) can’t process any 2021 income filing claiming either of those tax credits until C-8 receives Royal Assent (or dies).

In other words, teachers and farmers who hoped to increase their refund from CRA thanks to either of the two tax credit are now stuck waiting weeks or even months to receive any refund at all because CRA needs to see what happens with C-8.

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