So February is coming to a close and I want to make this update before busy season really starts to hit us at work.
Toronto training was very fun. I had a chance to meet employees of the company from all over the world (who have transferred to Canada) and get some more hands on training with simulations of situations/taxpayers returns.
For the first 4 or so weeks of work I have been doing training. This includes how to use the company's software and typical returns I will be faced with. These include but are not limited to: US citizens working in Canada and Canadian residents working in the US. Either way they will need to file one resident return and one non resident but sometimes they will need to file both full resident returns in both countries which brings up the complex circular Foreign Tax Credit (FTC). It sounds like there will always be a FTC but when an individual is required to file a full return in both places it gets a bit more complicated.
I am still leanring about it myself so the most I can say (and not to bore you readers) is that it is to prevent double taxation of world wide income because both countries require that world wide income be included in the return.
In the past week I have started doing basic non resident returns. I am finding it challenging to actually work with the software in real life situations but I am taking my time to understand what I am doing.
I am also learning some really great skills in terms of time management and the benefits of not multitasking!
Because I am required to account for my time on a small minute increment basis when I multitask I actually loose focus and cannot account for my time properly. I believe this will actually help me in many more areas than just work as I can concentrate and complete tasks quicker.
I have also started Bikram Yoga in the last two days and am feeling the burn! I want to be more active and become more centred emotionally and spiritually. Right now the classes are hard but I pushed through and went to my second class in a row!
I have a presentation in the staff meeting tomorrow on current CRA views on certain tax credits or important tax changes. I am a bit nervous but I have come to realize this is how I get before presentations and they always seem to work out.
I miss all of you guys in Lethbridge lots and think about you often.
Yours in Service,
Kathrine
P.S. the new office is really awesome; open and bright! I can also see the Calgary Tower from my desk!
