Back to School Tax Breaks

Like tax season, back-to-school season rolls around annually with certainty. But in today’s inflationary environment, the start-up costs for getting the family organizing for the school year may seem daunting. The good news is that tax and financial advisors can help clients understand their tax planning options and manage all the receipts that can lead to tax breaks later in the spring during tax filing time. Here’s a primer of topics you may wish to discuss:

We love sharing feedback from our recent graduates. This week we feature the success story of Delores Moskal from Yorkton, Saskatchewan, who recently graduated from Knowledge Bureau’s Business Valuation for Advisors course.

"Take criticism seriously, but not personally. If there is truth or merit in the criticism, try to learn from it. Otherwise, let it roll right off you." Hillary Clinton

According to the Conference Board of Canada, organizations that are committed to a strong learning environment for their employees will perform better than their competitors.  In fact, there are a number of tax advantages, too.

Finance Canada proposed changes to the $2000 Pension Income Amount in the September 20 release of sixty-four changes to the Income Tax Act and Regulations.  

Statistics Canada’s issued two reports on September 15; one reporting good news on the value of household wealth; the other showing that the value of employer-sponsored pension funds declined.  

The Canada Revenue Agency has announced the final prescribed interest rates that will apply to any amounts owed to the CRA and to any amounts the CRA owes to individuals and corporations in 2016.