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STAY UP-TO-DATE WITH BREAKING TAX AND INVESTMENT NEWS.
A thorough analysis of today’s financial news—delivered weekly to your inbox or via social media. As part of Knowledge Bureau’s interactive network, the Report covers current issues on the tax and financial services landscape and provides a wide range of professional benefits, including access to peer-to-peer blogs, opinion polls, online lessons, and vital industry information from Canada’s only multi-disciplinary financial educator.
July 2024 Poll
Starting in July, CRA will provide legal warnings to recover more than $9 billion of overpaid pandemic recovery benefits like CERB. Do you think that is fair?
CRA Legal Action: How to Help Delinquent CERB Recipients
CRA will start legal action to collect 9.53 billion in overpaid pandemic supports like CERB, Canada Recovery Benefits and Canada Recovery Caregiver Benefits. This is a very large number, representing half of the amount of expected taxes to collected by the new capital gains inclusion rate increase to 66 2/3% over $250,000. Are you or your clients feeling the pinch? Here’s what to know to soften the blow:
Reporting German Social Security Stressing Seniors
It just doesn’t seem right. Canadian resident recipients of German Social Security – some now close to 100 years old - have long been embroiled in a complex “give and take” when it comes to their pension eligibility and taxation. In at least one case, the fight for tax fairness has caused on couple to pack up and leave the country, according to a tax professional who contacted us with the story. Here are the issues and how to help:
Get Started Now: How to Choose a Trusted Advisor
With a very challenging tax season behind us and more complexity on the horizon with new tax rules, business owners would be wise to take the opportunity in the “off season” to re-think wealth creation in an asset class that others don’t have: the equity in a business enterprise that some day may be sold for millions of dollars. There are new opportunities to arrange ownership structures to use a new $1.25 Million Capital Gains Exemption or the new Canada Entrepreneur’s Incentive, in addition, the new capital gains inclusion rates, the Alternative Minimum Tax (AMT) and new intergenerational business transfer rules to consider. This requires the help of a trusted financial advisory team. Who should be on that team and how do you find them? Here are some tips:
Introducting a New Diploma Program
Knowledge Bureau is pleased to introduce a new Diploma in Advanced Family Tax Compliance. The program provides critical technical studies for professional tax accounting and financial advisors whose clients are facing increasing tax audit risk with recent changes for capital gains dispositions, rental property ownership and family business succession.
Check It Out: 13 Great Sponsors at the 2024 Acuity Conference for Distinguished Advisors
Have you added your company’s logo to the list of esteemed partners at this year’s Acuity Conference for Distinguished Advisors? There is still time to promote your good work nationally and join this illustrious group. Get in by September 30!
