The Canada Child Benefit Increase and Audit Risk
Families receiving the Canada Child Benefit (CCB) may have noticed an increase in their recent payments. Indexing takes place each July 1. Beginning in July of 2026, the CCB will provide families up to $8,157 per child under the age of 6 and up to $6,883 per child aged 6 to 17. There is audit risk that comes with that, however.Become a Distinguished Master Advisor with the Skills to Develop Tax-Efficient Solutions for Retirement!
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Ancient Tax Law: Still Here, Often Forgotten
Are you taking your exemption on foreign currency exchange gains? Are you reporting them? It’s part of some “ancient tax law” still with us today. And some of those provisions are often forgotten. Here’s a few of them:
Fixing Interpretations: Donors and Tax Strategies
As a financial advisor, a common query you might encounter is how clients can improve their financial position through charitable donations, particularly from sources like RRSPs/RRIFs or investments. While there are tax-efficient strategies to encourage gifting from these sources, the suggestion that a donor can end up in a better financial position after making a gift is inherently flawed. Here’s why:
Federal & Provincial Budget Dates
The federal budget will be tabled on April 16 this year. As at the time of writing the following provinces had released or announced their provincial budget dates. Stay tuned to Knowledge Bureau Report for budget highlights and special reports on significant tax and economic news:
Quebec Provincial Budget: March 12, 2024
It’s important to keep up with breaking tax news and that includes provincial tax changes, to help clients make important lifecycle decisions like whether to start a job or business in another province. Here’s what’s new from the budget in Quebec, brought down March 12, 2024.
Critical Professional Tax Education Launching This Month!
Don’t miss this opportunity to save on critical professional tax education launching this month – pre-publication specials end March 15! Register now and start anytime in the next two months.
