Time is Running Out for First-Time Home Buyers to Save in 2024
Owning a home, once almost considered a right of Canadian citizenship, has become a more distant dream for millions. The high cost of housing, coupled with a desperate shortage of supply, has turned the notion of home ownership into a near impossibility for many Canadians and those who have arrived in our country more recently. The Tax-Free First Home Savings Account (FHSA) can help but it’s important to open an account before December 31, 2024 to create and preserve the contribution room.Important Deadline for KB VIP Graduates: June 30
If you’re a Knowledge Bureau VIP Grad or Designate, the upcoming June 30 deadline is coming up and there are a few reminders to help you get the most out of your VIP experience with Knowledge Bureau. Don’t miss this opportunity to reactivate your VIP Benefits, including $100 off your next enrolments for grads, and $200 for Designates and FDFS™. Plus, for Designates now is the time to relicense the use of your designation marks by submitting your attestation to your standards of conduct. Check out the details below:
Adjusting Tax Returns: Control the Amount of Tax You Pay
It’s officially post tax season. As of June 17, CRA had received 30,908,149 tax returns and the average tax refund was $2200; the average taxes due were $7400. Now is the time to pay up, invest tax refunds wisely and adjust errors and omissions that may have occurred in your filings. But as important - get ready for the annual tax audit season. CRA can and will reassess tax returns for a variety of reasons. Follow this post tax season tip sheet to manage the tax erosion CRA changes can bring:
Reduced Child Care Fees: Tax Consequences & Social Impact
How has $10 a day child care impacted the ability for young families to build wealth? The answer is found in an interesting report recently released by the federal government. The new supports funded by both federal and provincial governments will also impact after-tax results.
Achieving a Healthy Balance: Business Planning Matters
How maxed out is your time? Most business owners struggle with this – too much to do, too little time. To prioritize consider: are you spending more time working on the creation of income or the creation of wealth? They are conjoined for sure, but by executing on financial priorities that are critical in all the important spheres in your life –in a healthy balance – you will likely achieve more of both.
What’s Your Why? Wake Up Your Latent Potential at Acuity 2024
Are you passionate about honing your technical expertise, building your businesses as well as personal connections? Then you will want to engage with Canada’s top tax and financial influencers – and join their ranks – at Canada’s only multi-disciplinary conference November 10-12 in Montreal: the 2024 Acuity Conference for Distinguished Advisors! We are so pleased to announce the return of Pro Tax Block and Mandeep Duggal as this year’s Title Sponsor. Mandeep is an inspirational and influential new business leader in Canada. Take a moment to find out why:
What Does it Take to Become a Fellow of Distinguished Financial Services (FDFS™)?
Would you like to earn the coveted FDFS™ Designation? These Distinguished Fellows are honored for their distinguished services as influential thought leaders, who have demonstrated a commitment to the noble cause of teaching and writing by engaging others in the high standards of knowledge they share. In doing so, they have also demonstrated an extraordinary commitment to shaping the future of the tax, accounting and financial services industries. Here’s how you can get involved:
