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Napanee financial adviser presenting petition to fix Indigenous retiree tax issue – The Kingston Whig Standard

Napanee-led petition to make basic changes to tax forms will help Indigenous retirees across Canada

A Napanee-based financial planner has initiated a petition to the Government of Canada, asking that it make some basic changes to tax forms to help Indigenous people in Canada file their tax-exempt retirement income tax each year without fear of undue reassessment.

In his petition, which was opened for signatures on Sept. 5 and will close on Jan. 3, 2024, Tim Reynolds of L&A Financial says the country’s Indigenous tax-exempt population is “overrepresented in reassessment claims, placing great strain on the community and on government resources.”

The petition is asking the Canadian government to alter tax forms to differentiate tax-exempt income from taxable income; to implement a method to record tax-exempt CPP contributions each year; and to ensure that “any and all tax-exempt returns, especially those belonging to Indigenous Canadians, are handled in an efficient and timely manner.”

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