Mark Your Calendar: Critical Deadlines for May and June

Tax season never truly ends, it seems, as there are many more upcoming tax filing, investment planning and education milestones to discuss with your clients over the next six months. Check out our handy checklist below and then test yourself – what are the conversation openers you’ll use and with which clients? It’s your opportunity to shine with every member of the household:

New! Get hooked on taxes preparing true-to-life case studies on professional tax software.  File simple tax returns confidently. This 20-hour pre-requisite to Knowledge Bureau’s highly acclaimed professional Diploma and Designation Programs is perfect for anyone new to personal tax filing and especially valuable for career development in the tax preparation or financial services. This month only, save $100 on tuition as a Black Friday Special Offer!

Great news!  CRA has a Halloween treat for tax accountants and their financial advisors this year:  it will not require bare trusts to file a T3 return include Schedule 15 for both the 2023 and in the 2024 tax year.  This confirms the position in the draft legislation released over the summertime and previously reported in Knowledge Bureau Report.   Here’s the backdrop:

An important tax write off is coming to an end in 2024.  The claiming of an immediate write off for Designated Immediate Expensing Properties (DIEP) will come to an end this year. Here  are the details: 

New legislation introduced on October 29 will require a registered charity that provides reproductive health services to disclose if, at a minimum, it does not provide the contact information for an abortion services provider and a birth control service provider.   The new tax rules will apply 90 days after Royal Assent and information disclosure requirements will apply starting in the 2025 taxation year.  Here’s what you need to know:

At the Acuity Conference for Distinguished Advisors in Montreal November 10-12, an award will be given to The Advisor of the Future. This is an individual who epitomizes the adoption of a new model to best serve the needs of multi-generation families through their commitment to educational achievement and high standards of conduct. We are so pleased to announce that this year’s Advisor of the Future Award Winner is Stefanie Keller, CFP, RWM™, FDFS™ and CEO of Stellar Wealth and Tax Solutions.

We’ve got a spooky Halloween Special Just for You! Be sure to take advantage of this scary great deal by midnight on October 31! This is your opportunity to earn widely recognized specialized credentials as a Distinguished Master Advisor (DMA™), and save $300 when you register in any DMA™ course of your choice.