The Certified General Accounts Association of Canada says the country's tax system is too complex and needs to be simplified.
CGA-Canada recently released its study, titled "The Need for Tax Simplification – A Challenge and an Opportunity." In it, the study's authors say little has been done to make the filing system more streamlined, which is ultimately affecting Canada's status in the world, as other countries have simpler systems.
"Canada's tax system is among the most complex in the world, which hurts our economy and adversely affects small and medium size enterprises and individual taxpayers," said Anthony Ariganello, president and CEO of CGA-Canada. "We believe tax simplification is good for taxpayers, businesses, governments and our economy."
Ariganello added the only way Canadians will eventually see positive changes to the filing process is if government officials actually debate the issue and discuss the potential solutions.
In the meantime, submitting taxes accurately requires effective document filing and storage from previous tax statements. Purchasing a portable storage container can house past tax reports. This organization can help ensure Canadians are not audited when they file their tax returns.