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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.
January 2025 Poll
Do you agree with extending the charitable donations giving deadline to February 28, 2025 for the purposes of reducing taxes on the 2024 tax return?
RRSP Deadline: Most Won’t Contribute & That Will be Costly
According to a recent survey, more than 56% of Canadians do not plan to contribute to an RRSP this year and an additional 12% are unsure if they will. That potentially means that more than two thirds of Canadians could be at risk of overpaying their taxes or worse, having important social benefits clawed back in this second year of the pandemic. Tax and financial advisors can help by preparing “what if scenarios” before the March 1 contribution deadline.
CRA Enhances Phone Services for Tax Season
Tired of long hours on hold with CRA? There’s good news, CRA has extended call center hours and call back services. While CRA is advising people to go to their website before calling, they’ve also contracted with a third party to help with general questions about pandemic supports. Will these changes help improve service standards for tax season?
Mark Your Calendar: Important Tax Milestones Coming Up
The next three months of 2021 are chocked full of important tax filing milestones. Be sure you help your clients mark their tax calendars and schedule a virtual or phone meeting with you. Here’s a handy tax milestones calendar from Knowledge Bureau.
Poll Results: CRA Should Cut People Some Slack
Given the financial stress people are under during the second wave, should governments suspend audit activities and waive penalties and interest in 2021”? That was last month’s poll question and an overwhelming 75% said yes. However, of those who said no, there were some strong words of disapproval:
Welcome to Pre-Registration for DAC Acuity 2021
In our 18th year, we are excited to officially welcome you to pre-registration opportunities to Knowledge Bureau’s annual strategic educational conference for professionals in the tax, accounting, bookkeeping, and financial services.
