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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.
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?
Newly Updated Course: Provide Expert Help When a Taxpayer Dies
Statistics Canada estimates the deaths in 2017/2018 numbered 142,331, and every single one requires that a final return be prepared and filed. Estate and final returns can be accompanied by a costly tax bill, especially if the client has a significant estate, assets, or savings. That’s where a highly qualified tax specialist comes to the rescue of executors who are responsible for filing the final return of the deceased.
Financial Planning: Debt, Assets and Tax Change in Retirement
Seniors may be grappling with significant financial literacy challenges in retirement. According to a Statistics Canada study released on April 3, 2019, a greater number of seniors are in more debt than past generations, and one of the big reasons is mortgage debt. Together with higher taxes, “new” retirement income planning requires a close look at the net worth statement, followed closely with tax projections to maximize both income and savings.
It’s Sustainable: Canada Pension Plan Outlook
The Canada Pension Plan (CPP) has earned an average return of 11.1% over the past ten years, and as of March 31, 2019, its value was $392 billion dollars. But, with longer life spans and the boomer generation retiring, will that be enough? Here’s a look ahead at how Canadians will fare as changes to the CPP program occur:
Advisors Have a “Complex” Relationship with Digital Disruption
Is digital disruption a threat or an opportunity? We asked tax and financial advisors whether they think it is an advantage in their business, which helps drive value, or a threat to their industry? The answer isn’t entirely black and white for most, but what’s clear is that clients value face-to-face advice.
Tax Tip: Interest Costs on Investments with Diminished Value
Market volatility can bring unsavoury investment results. If you panicked and locked in your losses in your non-registered investment accounts, you may find that you are still stuck paying an investment loan. Is that interest going to be tax deductible? Read on to learn more:
