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.Year-End Planning: Don’t Forget Foreign Asset Reporting
Do you understand the Canadian reporting requirements that apply when assets are held offshore? Year-end tax planning includes the assembly of information to stay onside with tax authorities. The filing of form T1135 Foreign Income Verification is required by April 30 in the cases discussed below. Failure to file will attract expensive penalties.
Donating Public Shares with Accrued Gains
Budget 2016 eliminated the proposed change to exempt from capital gains tax, the gains made on the disposition of real estate or private corporation shares when the proceeds are donated to charity.
DAC: It’s Not Too Late to Join Us to Earn 15 CE Credits
Top guns know. . .be on the ground with DAC delegates on the eve of the American election and hear expert commentary about the fallout of this controversial and exceptional time. It’s not too late to join close to 200 delegates in San Diego Nov 6 – 9; there are a few spots left.
Coming Soon: Fall Distinguished Advisor Workshops
Register by October 21 for early bird rates for Distinguished Advisor Workshops – fall edition. October marks the official start of “year-end tax planning season,” and this year there are lots of planning concerns for business owner-managers, real estate owners and succession planning. Top industry experts will enlighten you, so you can add value to your client relationships.
Be Prepared When It Comes to Final Returns
Death is never timely, yet it comes to at least 1% of the population each year. Brushing up on filing requirements and planning opportunities in the year of death can save families thousands of dollars. Now is a great time to take Knowledge Bureau’s Final Returns on Death of a Taxpayer course so you can plan the after-tax consequences of deemed disposition of assets at death for your clients and their heirs.
Life Purpose
"I think self-awareness is probably the most important thing toward being a champion." Billie Jean King
