This Month’s Poll
The automobile deduction limits raised — the CCA ceiling for passenger vehicles to $39,000 plus tax for 2026. In your opinion, is that high enough?CRA Carrying Charges: What’s Not Deductible?
In Part 3 of this series on deductible investment expenses, we discuss costs that are not deductible – a mystery and a surprise to some taxpayers during a tax audit. Here’s more essential information to keep you out of hot water.
Gender Wage Gaps: Women Make Big Strides in Accounting
In the accounting and finance industry, a lot has changed since the 1950s. Today this field is of particular appeal to women, as they now make up a widening majority (58 Percent) of its workforce. Earnings for women have also doubled, making this an excellent career choice.
Retirement Planning: Avoiding OAS Clawbacks
Are retired Canadians turning to you for help when they’ve been subjected to Old Age Security clawbacks? If you are a professional in the tax and financial services industry, its your job to provide valuable advice to pre-retirees on this complex issue, and help them avoid the Pension Recovery Tax that could take a chunk out of their retirement income.
Tax Tip: What You Need to File an Audit-Proof Return
The clock is ticking! Do you have everything you need to file your taxes before the April 30 deadline? Rushing through the tax preparation process can cause you to miss important steps, putting you at risk of an audit. This is your guide to the basics, and Knowledge Bureau’s Tax Documentation Checklist will take you the rest of the way in preparing an audit-proof return. Be sure to contact us for your copy, or click on the link provided!
Breaking News: Ontario 2018 Budget Released
On March 28, 2018 Ontario released what has been widely considered to be a “Pre-Election Budget”. Aside from large spending increases, it features changes to Ontario’s tax rate structure, which so far have received little fanfare. Seven tax brackets result in personal tax increases for almost two million people; in addition, 20,000 private businesses will pay at least $2,400 more in health taxes.
Impacting Pre-Retirees: Notable CPP Changes
Did you know that there are more changes coming to the Canada Pension Plan in 2019? Most Canadians are unaware, and even those in the know find that the CPP planning process is quite confusing. There is opportunity here for tax and financial advisors to help bring their pre-retiree clients up to speed before the end of tax season.
