This Month’s Poll

Is the new Canada Groceries and Essential Benefit the right solution to help Canadians with inflation?

The question was simple: “According to CRA, Canadians experience improved service delivery and responsiveness from the CRA this tax season. Do you agree?” The answer almost unanimously no: 92% of Knowledge Bureau Report readers disagreed and they had plenty to say about it, too:

Did you know that after the two filing deadlines for 2026 – June 15 for proprietors, April 30 for everyone else – over 7.5 million people owed money to the CRA? If that includes you, it’s important to pay promptly and understand the cost of current interest rates. Here’s what to know:

Looking for something intellectually stimulating to listen to this Canada Day? Ten new episodes of Real Tax News with Evelyn Jacks and Friends is now streaming. Season 2 features special guests and topics that bring tax and economic trends to life to help you and your clients start new conversations about how tax policy affects investments, demographics, business ownership and succession and retirement. Here’s the storyboard for your listening pleasure:

Want to learn more about providing professional tax services in your community? Train new team members to meet the demand for tax season 2027?   Check out the DMA-Personal Tax Services Specialist Program. This is an industry-recognized professional credential designed to help tax professionals, seasonal preparers, and financial advisors master the complexities of personal tax preparation and planning.  It is ideal for:

An important deadline is approaching for non-residents with certain Canadian-source income. June 30 is the deadline to file elected returns under Section 216 (pertaining to rental income) and Section 217 (pertaining to Canadian source pension income). There may be significant consequences for missing this deadline as returns received after this date, generally aren’t accepted. Here’s what you need to know:

According to a June report from TD Economics, Canadians’ net worth rose to over $1 million per household in 2025, which is a new record and an increase of 5.3% over 2024.  How is this possible when the housing and labor markets are soft and some are swooning over the real costs of high inflation?  The answer lies in the investments Canadians are holding and, by extension,  in their relationships with the right financial advisors.  What has changed?