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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.

This Week’s Edition of KBR:

April 2025 Poll

Do you believe our tax system needs to be reformed and if so, what would be your first improvement? If not, what do you like about it?
Yes: 68 votes
98.55%
No: 1 votes
1.45%
 

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Meeting of the Minds Discussion August 27, 11:30 EST: Wealth Preservation

Join some of Canada's leading Real Wealth Managers™ for a discussion about wealth preservation in these very uncertain times. It’s a  free virtual, national conversation that brings together advisors from the tax, bookkeeping, insurance, financial planning and legal communities to discuss true-to-life issues that require inter-advisory collaboration. Details below.

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New MFA-P ™ Graduate in the News:  Michael Flux

Michael Flux, Executive Vice President and Portfolio Manager at Connor, Clark & Lunn Private Capital Ltd. helps high net worth families and foundations reach their long-term financial goals by providing pension-calibre investment solutions. “My aspirational goal in life,” says Mike, “is to leave much good behind.”  He has recently enhanced his education to earn the MFA-P™ designation to help him in that quest.

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CERB Extension Surprise: 52% Think it Was a Mistake

Last month’s Knowledge Bureau Poll brought a surprising result from tax and financial professionals: 52% thought the extension of the Canada Emergency Response Benefit was a mistake. The 48% who agreed were more prolific in their comments, however. Here’s what you said:    

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Death in the Family? Know the Tax Filing Rules in 2020

When someone in the family dies it is important to turn to the tax system to file any required tax returns  that may be outstanding and to claim specific tax benefits that can help to pay for end-of-life costs.   What are the rules for filing on time in this most unusual tax filing year?

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New CEWS Calculator for Periods 5 to 9

As we reported in our last KBR, the new Canada Emergency Wage Subsidy (CEWS) was extended to include 9 Periods, but this extension brings some mind-numbing complexity with it.  Businesses can apply for the subsidy starting on Monday, August 17 for Period 5, which began on July 5 and runs to August 1. CRA has also developed a CEWS calculator and spreadsheet to help make the claim.  Here are the highlights of how it works:

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