Planning for Seniors in 2025
Will seniors be receiving a raise in early 2025? Unfortunately, not, at least for the first quarter. Adjustments to the benefits are based on the Consumer Price Index (CPI), OAS and GIS benefits will not be increasing for the January to March 2025 quarter.
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Most People Miss Claiming Medical Expenses
Canada’s per capita spending on health care was among the highest internationally, at CA$8,119 and even so, the amount of money Canadians spend out-of-pocket on private health care and insurance also exceeds the OECD average, according to a recent report by the Canadian Institute for Health Information (CIHI). This is especially difficult for cancer patients, for whom out-of-pocket costs can be astronomical. A silver lining is that some of those costs may be recoverable through the personal tax system. Here’s an overview of the kind of write-offs most people miss, and some of the complexities that come with the claims.
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Special Report – December 16 Fall Economic Statement
Canada’s Finance Minister is scheduled to release the Fall Economic Statement on Monday December 16. Knowledge Bureau will release a Special Report to inform you on the changes and in addition, based on our clients’ wishes we are announcing an expansion of our CE SAVVY Summit offering to accommodate tax training needs to accommodate the enormous volume of changes to forms and procedures expected throughout January, February and March.
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Earn Specialized Credentials in Tax & Accounting for Tax Season 2025
According to the 2025 Canada Salary Guide released by Robert Half, Competition is intense for skilled finance and accounting talent, and to compete businesses need to meet or beat market salary rates in order to retain professional staff with specialized in-demand skills. Many are training to upskill their existing staff in order to overcome technical skills gaps. Knowledge Bureau’s programs and courses leading to specialized credentials can help prepare business owners in the field with technical training their new hires need in tax and accounting.
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Knowledge Journal: Line-by-Line Tax Season Reference!
Planning to attend Knowledge Bureau’s Advanced T1 Tax Update Tour online on January 15? Register now! All students who register by December 15 will receive a hard copy of this highly coveted hard copy reference book, affectionally known as the Knowledge Bureau’s “Tax Bible” included in tuition fees thanks to the support of our sponsor Thomson Reuters! Learn more about our partner and the event details below:
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