Ever since the Trudeau government had created the FHSA account, for some reason (not), instead of registering the account being open in the first year, the CRA has shifted the burden on accountants and tax prepares.
What this has done is now we have to ask our clients whether or not they had opened the FHSA account because even if there wasn’t a single penny deposited in the account.
A client last year had opened their FHSA account but they did not inform me that they had opened their FHSA account and neither was I able to find it through AFR until JUNE 1ST!! Now we have to mail Schedule 15 to the CRA because refile won’t go through since there’s been no changes.
What an absolutely gong show this year has been!!