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Knowledge Bureau is your leading financial education network. We cover the most current issues in the tax and financial services landscape, interpret them and bring the highlights right to you. You’ll learn about taxes, investing, retirement, estate and business planning.

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Take 2: New Complex Tax Rules, Short Comment Periods

By : Evelyn Jacks and Knowledge Bureau Staff Writers Posted in: Strategic Thinking, Current Issue
If the date July 18, 2018 rings a bell it should: it marked the one-year anniversary of Morneau’s controversial small business tax proposals. This year, mid-summer tax complexity is again in the news, as Finance Canada released two important new tax documents for Canadians on July 27: the Draft Sales and Excise Tax Legislative and Regulatory Proposals and the Draft Income Tax.

Five Important Details Emerge on the Canada Workers Benefit

By : Walter Harder Posted in: Strategic Thinking, Current Issue, Tax Planning, investment, knowledge bureau, Evelyn Jacks, income tax, refundable tax credits, income planning
Draft legislation that describes enhancements to the Canada’s Workers Benefits, was tabled at the end of July, and the proposals contain five interesting changes which improve access and benefit availability, as outlined in the federal budget.

Deferring Receipt of CPP: Is it the Right Call for Retirees?

By : Stefanie Keller Posted in: Strategic Thinking, Current Issue, seniors, investment, knowledge bureau, Canada Pension Plan, Evelyn Jacks, retirement income, public pension, Real Wealth Manager, old age benefits, income planning, Quebec Pension Plan, deferring CPP, CPP enhancements, maximum pensionable earnings, tax-efficient retirement income, Stefanie Keller, Stellar Wealth & Tax Solutions
When it comes to the Canada Pension Plan (CPP)/Quebec Pension Plan (QPP), most Canadians want to know whether they should take it early, at age 60 or defer it. In fact, this is a great trigger question and a core part of the discussion and a core part of the discussion about a pre-retiree's financial strategy. Yet it is surprising how few advisors drill down on this complex, and often uncomfortable decision.

Developing Trust in the Financial Advice Sector: Education and Enforcement Demanded

Posted in: Strategic Thinking, Current Issue
Is more regulation needed to protect consumers from unscrupulous tax and financial advisors? That was the subject of KBR’s July poll, and it’s clear that to industry professionals, the answer isn’t so black and white. Our readers agree it’s a problem, but the solution falls somewhere between simply answering “yes” or “no.”

Know Your Cross-Border Client: Avoiding Tax Consequences and Liabilities

By : Knowledge Bureau Staff Writers Posted in: Strategic Thinking, Current Issue, Financial Literacy, DAC, knowledge bureau, Evelyn Jacks, distinguished advisor conference, snowbirds, financial education, Knowledge Journal, Dean Smith, Canadians abroad, cross border, U.S. tax, non-residents, living abroad, Cadesky Tax
Canada-US relations have been strained for a variety of reasons, but recently private business owners received what could be a very costly surprise. New guidelines outlined by the I.R.S. for the Transition/Repatriation Tax will take a toll on Canadians with U.S. or dual citizenship who have businesses incorporated in Canada: expect to owe even more tax.

Relationship Management: Advisory Can Help Feuding Couples

By : Knowledge Bureau Staff Writers Posted in: Strategic Thinking, Current Issue, Debt Management, Real Wealth Management, Financial Literacy, Debt, family finances, knowledge bureau, Evelyn Jacks, Essential Tax Facts, financial education, holistic wealth management, retirement planning tax-efficient income
A recent Fidelity Investment report points out that debt is one of the biggest issues that drives couples apart, with 36 percent saying that money is their biggest marital hurdle. But many couples also struggle to communicate about financial matters that could lead to repercussions down the road. The help of astute tax and financial advisors is critical.