June 30 Tax Deadline is Looming for Non-Residents
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:New: Personal Support Workers Tax Credit Coming Soon
Personal support workers will receive billions in increased wages from federal/provincial governments in B.C., Newfoundland and Labrador and the Northwest Territories. Those workers in other provinces will now get a raise too, but they will have to wait until filing their 2026 returns in the spring of 2027 to cash in, according to an October 27 pre-budget announcement. Here are the details:
Auto Logs: The Cornerstone of Vehicle Expense Claims
Auto logs are essential for claiming vehicle expenses and travel allowances under CRA rules. Employees, shareholders, and self-employed individuals must follow distinct guidelines, and travel allowances are permitted for specific deductions like moving expenses, medical travel, and northern travel deductions. Trouble is most people have trouble keeping them and can fall into tax audit traps. Here’s a primer on the rules, to know as part of year-end tax planning activities.
Employment Insurance: Beware the CRA May Want it Back
The federal government announced changes to the Employment Insurance (EI) regime on October 27, a pre-cursor to their upcoming November 4 budget. Knowledge Bureau will cover the details in a Special Report available to subscribers and in the comprehensive professional CE/CPD training for professional tax accountants and financial advisors on November 5 (earn up to 20 CE/CPD Credits before year end). Registration for the live virtual event is now open. Here’s what you need to know about the EI proposals:
KBR Halloween and Taxes – Both are Scary!
Halloween is a night for spooky things. Some adults would say, it’s a bit like the tax filing deadline. There are few things that can terrify even the bravest of us as much. When a new client comes to your door, keep this in mind. You have the potential to turn terror into, well fun. It’s true! Think about it. . .
Reality: Tax Audit Risk for Business Owners
Small business month is coming to an end, but there is one issue rarely discussed in the news for this important sector of our economy: tax audit risk. If you’re in business, it’s a reality that you are in an audit target zone and you need to be ready because it can be very expensive. That’s why it’s a year end planning issue we’ll be discussing in depth at the November 5 CE Summit featuring tax lawyer Anna Malazhavaya. Registration is still open online until November 4. Here’s what’s important:
Need High Value CE/CPD Credits Before Year-End?
Spend your valuable time with immediately implementable, professional development in year-end planning topics. Did you know that all Knowledge Bureau certificate courses (live, live virtual and online) are accepted for valuable CE/CPD Credits? Details follow. Plus, we have a DMA Designation Program offer, it’s so good – it’s scary!. Check it out:
