Fall Federal Budget: Will Spending Be Cut?

Canada has historically presented an annual budget since Confederation in 1867, even through periods like World Wars and the Great Depression, but we have recently experienced the longest period without a full federal budget in our history. By the time the next one is brought down, expected in October 2025, it will have been 18 months since the controversial April 2024 budget which introduced the doomed capital gains inclusion rate hikes. What can we expect?

DAC Acuity 2020 set a high standard for virtual conferences - a perfect blend of information, education, inspiration and recreation; this according to delegate Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. who joined advisors from coast to coast, virtually, to take in the bold thinking and bright insights of incredible speakers over three days of learning and unique online networking opportunities. 

Statistics show that 70.2% of all revenues earned by professionals in the accounting, tax filing, bookkeeping and payroll services results from working with the business sector.  This means if you have built a tax filing business serving individuals and households only, you’re missing out on a big share of the market. Small business needs more help on the road to pandemic recovery, so now is a great time to hone your skills, and earn new credentials to provide this essential service.

Knowledge Bureau is now accepting session proposals from sponsors interested in presenting to a national audience of highly engaged top advisors at the October 17 – 19, DAC 2021 in Niagara Falls. This is your best opportunity to get in front of a national network of thought leaders from the tax, financial services and bookkeeping industries who are highly engaged in growing their practices to meet the challenges of the times.    

"Never confuse a single defeat with a final defeat." - F. Scott Fitzgerald

This week the government released the T4A form for 2020.  This is the first indication of how the various government assistance programs for 2020 will be reported on the tax return.

It’s a controversial subject that’s clearly lead to some divided results on our October poll. We asked: “Are government plans to introduce automatic free tax filing for the 12% of adults who don’t file tax returns to get benefits a good idea?” The results are in with 42% saying “yes” and 58% who shared some insightful thoughts and strong opinions with their “no’s”.