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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 Clarifies Important CEWS Details in FAQ
Over the past weekend, the government quietly added to their Canada Emergency Wage Subsidy (CEWS) FAQ and updated the application portal, clarifying a number of important questions for business owners on the deeming rule for claim periods 5 to 10, employee bonus and commission in eligible remuneration calculations, and how to handle pay associated with termination when applying for the CEWS. We’ve pulled out the highlights for you:
Black Friday Starts Now!
Now is the right time to enhance your credentials and train your teams for the upcoming tax season, and our Black Friday Sale is here to get you started. This week only: save 55% on tuition when you enrol in any two courses of your choice for $995.
New Graduates Survey Shows Education Brings Happiness
This just in: a post-secondary education can bring on joy. A 2018 National Graduates Survey released by Statistics Canada on November 17 surveyed 2015 post-secondary graduates in Canada. It reports that the majority of graduates were satisfied with their jobs, felt qualified for them and 91% were working full time.
RSVP Now for the Advanced Personal Tax Update Workshop
Just released: the agenda for the January 20 Advanced T1 Tax Updated and Virtual CE Summit. This is your opportunity to attend Canada’s most comprehensive T1 filing course from Canadian tax experts Evelyn Jacks, Larry Frostiak, Dr. Dean Smith and Alan Rowell; this time addressing a national audience in this year’s virtual webinar format. RSVP now: early-bird savings end January 15 and there is special pricing for firms who wish to enrol teams.
Income Tax Burdens Rise in 2020
It’s hard to believe but back in 1917 the average taxpayer paid $14 and personal income tax was 2.6% of all federal government revenues. But in 2020-2021, the $165 billion the government expects to collect from personal income taxes represents a whopping 57% of all budgetary revenues. This is a significant increase in reliance on the fruits of Canadians’ labour, even when compared to modern standards: 51% in 2017, for example. This makes the role of financial intermediaries – tax, accounting, bookkeeping, payroll and financial advisors – more important this year than ever before. There are many places to look for savings before year-end.
