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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?
It’s a Leap Year! Some Fun Facts, and a Special Offer…
Did you know about 5 million people in the world have birthdays every four years on a Leap Year? Rumor has it they also have very special powers! With February 29, 2020 just around the corner, we are pleased to share some fun facts about Leap Year with you, along with some special powers to take advantage of our Leap Year Tuition Special, which ends (you guessed it) on February 29!
Take in One of the World’s Eight Wonders: RSVP for DAC Acuity by February 29!
RSVP now to attend Canada’s premiere and longest running strategic conference for professionals in the tax, bookkeeping and financial services and lock in low tuition rates available to you - our very best clients - before the end of this month. But hurry, those rates will rise on March 1, and as always, you are welcome to custom-design your payment plan.
Tax Season 2020: Refunds Not Likely Before March
Filing a tax return is the first (and often most important) financial transaction of the year for most Canadian families. While Canadians love their tax refunds, they won’t start flowing this year until March, as CRA won’t accept your E-filed returns until Monday, February 24 and refunds likely won’t flow until at least March this year. Reality check: tax refunds are a poor financial planning strategy.
It’s Here! The Pro’s Tax Season Calendar from Knowledge Bureau
There are 10 key tax filing milestones coming right up in February and March. Have you discussed them with your clients? Check out the Knowledge Bureau Professional Tax Filing Matrix and nudge your clients along to book appointments in advance of what is sure to be a very busy tax season. Plus, there is still time to train new and returning staff on the changes to the 2019 tax return.
Form T1206: Understand the Onus of Proof Under TOSI
TOSI, a most controversial provision introduced on July 17, 2017 is now in its second reporting year. As many companies are preparing T5 slips, dividends distributed from certain professional corporations must be properly reported for non-active members of the family. Tax specialists will want to discuss where the onus of proof lies for proper reporting and brush up on the complex rules and their impact using tax form T120.
