Help & Contact: 1 866 953 4769
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?
Happy Truckers: Meal Rate Claims Increase
The federal government has raised the amount that can be claimed for meals under a variety of provisions in the Income Tax Act by 35%, from $17 to $23 a meal or $69 a day. The last change occurred in 2009. The new amount is generous, as the purchasing power of a 2009 dollar today is 83% of its value. If adjusted for inflation, the $17 meal in 2009 would cost $20.53 in 2020. More good news: the change is retroactive to January 1, 2020. There are three groups of taxpayers who will be cheering:
Strategic Education for Future-Focused Advisors
This year’s DAC Conference brings together an esteemed faculty of speakers whose thoughtful focus will be on rebuilding financial confidence for the thousands of clients the audience will serve this year. It’s a groundbreaking and must-attend event, and the only one-of-its kind for tax, bookkeeping and financial advisors who wish to meld skills and collaborate to raise the bar in providing high value services to their clients. Featured topics and speakers are:
Graduating Class 2020: Congratulations, Designates!
Knowledge Bureau is pleased to recognize the achievements of its graduating class July 2019- June 2020 at the Virtual Distinguished Advisor Conference (DAC), October 28-30. Be sure to find yourself and/or your colleagues and friends on the honor roll and graduating class list of Designates below. Congratulations are in order for all!
Check It Out: New Fall Study Calendar
Check out our new calendar for your fall studies. Now is the time to enrol to study on your own time with online training or try and interactive Virtual Class Option. Act by September 15 to take advantage of early registration offers.
Household Income Over $90,000: Taxes 43% , Basic Necessities 36%
In 2019, the average Canadian family spent 42.6% of their household income on taxes according to a new study by the Frasier Institute. Yet, they spent only 36.2% on the basic necessities of life, including housing, food and clothing. The issue for tax and financial professionals is: what can be done to tip the scales in favor of funding basic necessities now, while preparing for a future that could include taxes, inflation, and unemployment? Six strategies appear below.
