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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.

This Week’s Edition of KBR:

March 2025 Poll

In your view, has CRA improved its services to clients and tax preparers this year?
Yes: 4 votes
3.57%
No: 108 votes
96.43%
 

Cast Your Vote

KB Grads in the News: Linda Baldwin, DFA-Tax Services Specialist

Linda Baldwin, DFA-Tax Services Specialist™ shares how Knowledge Bureau courses have helped her keep up to date on frequent tax changes she’s required to know to operate a successful tax business. Linda also tell us that a Knowledge Bureau education is a requirement for training any new staff she hires.

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Overwhelmed: CRA Service Issues Cloud a Difficult T1 Season

Tax season is far from over.  As of May 3, only 25.5 million tax returns had been received by CRA with over 30 million expected in total, including those from new filers who received the taxable CERB and CRB payments. So far it has been an overwhelmingly difficult tax season, according to professionals who answered our April poll: “In your view, has CRA’s service level to professional tax advisors improved this year?”. It was conclusive:  97% said no. Here were the challenges faced:

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Conversation Starters: Is Universal Childcare the Right Model for Millennials?

The $30 billion national day care initiative announced in the April 19, 2021 federal budget deserves a deeper dive, especially in conversation with your Millennial clients.  It is important, it will be expensive, but it may not be the right model for the times. The issue has already garnered some important debate that provides a 360 degree lens. There are lots of worries too, ranging from health and safety to financial affordability and tax deductibility. 

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Growing Your Business – Understanding the Business Life Cycle

To scale a business means to grow it without a big increase in resources.  In fact, when your systems and procedures, technology, funding and staffing are all set up to build on the demand coming your way, the happy result is both top line and bottom line growth.  The difference, post-pandemic will be that to some degree, business owners are all starting a new business cycle again. What do we mean by that?

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Mark Your Calendar: Tax & Financial Milestones in May and June

The focus after April 30 is tax filers who are late and proprietors who have until June 15 to avoid late filing penalties.  However, this is also the time to think about your business and how to build on the momentum you have created during tax season.  Consider these milestones!

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