October 1 - Important Changes Coming to VDP
Effective October 1, 2025, important changes will be made to the Voluntary Disclosures Program (VDP) at the CRA in order to make it easier for taxpayers to correct unintentional filing errors or omissions. The details on how the changes will affect your clients are being discussed in the CE Summit held September 17 and this course is now available for online enrolment and CE accreditation, after the virtual event. Here are some highlights of the changes.New Knowledge Bureau Designate, Candice Jay, CIM, FCSI, MFA-P™
New Knowledge Bureau Designate, Candice Jay, CIM, FCSI, MFA-P™ has some exuberant advice for financial professionals who are looking for new ways to re-engage their enthusiasm during the pandemic marathon: always be curious and dive into life-long learning! Her engaging interview about her new credential as an MFA-P™ (Philanthropy) follows:
Year-End Tax Planning: Nov. 18 Virtual CE Summit
Join Knowledge Bureau President, Evelyn Jacks and Special Guest Instructors at the next Virtual CE Summit on November 18. This comprehensive virtual workshop also features a thorough online course: everything you need to know to thoroughly understand the opportunities for tax, investment and estate planning both inside and outside the small business corporation.
Free Trials: Choose Your Training Options, Risk-Free
Did you know that we give you the option to try out online courses before you enrol? Get a feel for our curriculum by enrolling in a free course trial.
New Rent Relief for Canadian Businesses
Much to the relief of small business owners, the New Canada Emergency Rent Subsidy, announced 9 days after October rent payments were due, brought rent and mortgage support directly into the hands of business tenants. There was more good news, too. A new forgivable loan for businesses affected by the second wave of this pandemic was also introduced. Here are the details:
Good News for Employees; Self-Employed, Not So Much
Good news on the labor front in Canada: the unemployment rate dropped to 9.0% in September, down from a high of 13.7% in May. Further, the September Labour Force Survey released October 9 for the week of September 13 to 19, reported fewer people receiving the Canada Emergency Response Benefit (CERB) , EI or the Canada Emergency Student Benefit (13.5% down from 16.1%) and that the employment rate rose 2.1%. So, what’s the bad news?
Cash Crunch? Help Clients Find New Money
The pandemic has changed the financial picture for a lot of Canadians. The good news? Changes in income levels can produce tax savings few people have thought about. Reduced income, for example, may change the taxpayer’s requirement to make their December 15 instalment payment. Or they may qualify now to collect tax benefits they would otherwise not be entitled to. Check out this true-to-life example:
