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.
March 2025 Poll
In your view, has CRA improved its services to clients and tax preparers this year?
Warning Tax Credit Recipients: File Your 2019 Return or Repay
In the fray of the pandemic, tax filing deadlines have come and gone, with the most recent being the June 1 personal tax filing deadline. Governments have been committed to keeping tax benefits flowing based on the 2018 return and will even waive late filing penalties and interest for failure to file. But a big reckoning is coming at midnight on September 1.
The CRA “Gotcha” Crackdown: CERB and CEWS Fraudsters Beware
The CERB auditing has begun. Unfortunately, with a bit of “gotcha” scenario. The CRA is starting to crack down on those who are “misusing” the federal Canadian Emergency Response Benefits by introducing a tip line to report fraudsters. It’s too bad that the CRA has not given the repayment option portals the same fanfare. Tax and financial advisors can help, though.
MIA: 30% of T1 Returns Remain Unfiled
The official extended June 1 tax filing deadline has past, but of course there is an unofficial deadline of September 1 still ahead. No late filing penalties or interest will be charged for those who file by then, so it’s not surprising that T1 tax filing season isn’t truly over yet. In fact, 30% of all T1 returns filed last year are still missing in action.
OAS and GIS COVID-19 Seniors Payments: Not for Everyone
As part of the emergency pandemic assistance programs, a new benefit was introduced for seniors – for some, but not all. Those receiving OAS will receive a $300 one-time payment, and those receiving GIS will receive an additional $200. But do those who chose to postpone their benefits qualify too?
Teach Tax and Financial Literacy: Why That Matters More Than Ever
I had the opportunity to coach one of our Knowledge Bureau instructors this past weekend as she prepared to provide a basic tax and financial literacy lesson to a group of young people. The issue we spent the most time discussing: how to convey and discuss the importance of financial wellness and why that matters especially in these times? The answer required only one word.
