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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.
December 2024 Poll
Should the $250 Working Canadian Rebate be passed into law to provide tax relief to individuals with working net income under $150,000, who also contribute to the CPP?
How to Receive a Grant of Up to 75% Training Costs
Thinking of enrolling employees for training this fall? The Canada-Manitoba Job Grant will begin accepting applications July 24! But the grants go quickly so apply now if you are interested in enrolling employees in Knowledge Bureau training programs. Up to $10,000 per individual can be received. The grants are available in other provinces too, but with varying deadline dates. Details below:
CRA Legal Action: How to Help Delinquent CERB Recipients
CRA will start legal action to collect 9.53 billion in overpaid pandemic supports like CERB, Canada Recovery Benefits and Canada Recovery Caregiver Benefits. This is a very large number, representing half of the amount of expected taxes to collected by the new capital gains inclusion rate increase to 66 2/3% over $250,000. Are you or your clients feeling the pinch? Here’s what to know to soften the blow:
Reporting German Social Security Stressing Seniors
It just doesn’t seem right. Canadian resident recipients of German Social Security – some now close to 100 years old - have long been embroiled in a complex “give and take” when it comes to their pension eligibility and taxation. In at least one case, the fight for tax fairness has caused on couple to pack up and leave the country, according to a tax professional who contacted us with the story. Here are the issues and how to help:
Get Started Now: How to Choose a Trusted Advisor
With a very challenging tax season behind us and more complexity on the horizon with new tax rules, business owners would be wise to take the opportunity in the “off season” to re-think wealth creation in an asset class that others don’t have: the equity in a business enterprise that some day may be sold for millions of dollars. There are new opportunities to arrange ownership structures to use a new $1.25 Million Capital Gains Exemption or the new Canada Entrepreneur’s Incentive, in addition, the new capital gains inclusion rates, the Alternative Minimum Tax (AMT) and new intergenerational business transfer rules to consider. This requires the help of a trusted financial advisory team. Who should be on that team and how do you find them? Here are some tips:
Introducting a New Diploma Program
Knowledge Bureau is pleased to introduce a new Diploma in Advanced Family Tax Compliance. The program provides critical technical studies for professional tax accounting and financial advisors whose clients are facing increasing tax audit risk with recent changes for capital gains dispositions, rental property ownership and family business succession.
