Tax Avoidance, Financial Stress & Well Being

Earlier this month, Statistics Canada published a report titled Stretching the Loonie: a time series analysis of financial difficulty and quality of life. The report is based on a nation-wide survey and the results are concerning. They reveal a serious trend and it is possible this is contributing to the late filing trend we are seeing this tax season.

Join Evelyn Jacks and special guests for a weekly podcast delivering real tax news people need to know.  It’s been quite the journey for taxpayers who own assets like cottages and businesses.  In this first episode of Real Tax News: “Capital Gains Chaos Gets a Reprieve” featuring Geoff Currier, find out the latest PLUS the Definition of True Wealth.

As we all know, it’s been a roller coaster week in tariff news. The Canadian dollar started to sink, although not to its lowest historical level-yet. The 30 day pause in implementation of the U.S. tariffs has provided a wake up call: What effect will such a Black Swan event have on portfolios and, by extension, retirement plans?

The Bank of Canada cut its interest rate by .25% to 3% on January 29, a full two percentage points lower than was the benchmark in 2023.

Statistics Canada data shows that Canadian parents are starting families later in life than previous years. This trend not only affects housing markets but also influences social services, healthcare needs, and community planning.

Knowledge Bureau hosted its first half-day Mini CE Summit which focused on Rookie Tax Training to bring Canada’s Income Tax Fundamentals course to life, and surprisingly, it was well attended by seasoned pros as well.

Last week, it was announced that the capital gains inclusion rate increase would be postponed to January 1, 2026. How can you advise your clients on this now?