Start Tax Season 2025 on Sound Footing

Filing a tax return is difficult as the playing field is one of constant change:  the tax rules are in flux, particularly in the 2024 tax filing year,  with all the uncertainty around the capital gains provisions.  But in addition, taxpayers have undergone many financial and life event changes since their last T1 filings, each of which must be identified for each family member.  Here’s a primer for new year conversations between advisors and clients that cuts through the noise:  what matters is what you keep!

Especially for experienced financial services professionals!  Earn a new Certificate in Lifecycle Transitions Planning. Choose 15 from a selection of 80 micro courses with one important focus:  to help you engage more effectively in tax-efficient wealth management conversations during this period of significant – and potentially expensive – tax change in Canada. Customize your CE and your business education to scale your business to the next level of growth.  Why are CE Savvy™ Micro-Course Collections the educational choice of savvy professionals?  Check it out:

According to a July 23 publication by the Fraser Institute, we are getting poorer here in Canada and the prospects for economic growth are looking grim.  This should be of concern to every Canadian concerned about their “real income” – that’s their purchasing power – and by extension - their ability to fund consumption now and for important family milestones in the future:  retirements, education and homeownership.  It’s grim, but there are practical suggestions for a turn around plan. Here’s a synopsis of the report.   

It’s surprising how difficult and frustrating it can be for taxpayers to navigate their digital relationship with CRA.  Figuring out how to make payments to CRA at the local bank without the right remittance forms can be a major obstacle. So can setting up My Account; a requirement to engage you and set up Represent a Client authorizations.   Providing assistance with this is an important way to win the trust of a potential new “client for life”, especially when multiple accounts and filing requirements are involved.   Consider the following:

Did you know that as of  June 20, 2024, some psychotherapists and counselling therapists practicing are no longer required to collect the GST/HST on their services? Now, their GST/HST accounts may need to be closed.   Here is what you need to know:

KBR will not be publishing next week as we take a mid summer break but that doesn’t mean that Knowledge Bureau doesn’t have great mid-summer tuition offers for you!  Here’s a rundown – act by July 30.

This stand alone certificate course perfect for those with no prior tax or financial services experience and recommended precursor to the full DMA™ Vocational Certificate, Diploma or Designation Program. Build confidence in yourself and your team members: the program takes about 20 hours, learn to prepare 24 case studies on professional tax software. Every newcomer to the tax and financial services will benefit from this education! Pre-register now. Canada’s Income Tax Fundamentals Course™ will be available September 10 and you can take advantage of this pre-sale offer!