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.
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?
DAC 2024 November 10-12 in Montreal: Welcome Back, Sponsors!
We are excited to welcome back our corporate sponsors to DAC 2024 – November 10-12 in Montreal: Franklin Templeton and Johnston Group. It’s going to be another outstanding sold out event, so we urge you to reserve your sponsorship and speaking topics, as well as all attendee delegate registration by the early registration deadline of February 15. Hotel rooms at the beautiful Hotel Birks are expected to sell out quickly as well.
KBR Picks: Biggest Tax and Economic Newsmakers of 2023
Happy New Year 2024! May your year it be filled with good health, good friends and good fortune! To start out the year, Knowledge Bureau Report invites you to share our new interactive Calendar of Educational Events and our Top 3 Picks for the Breaking Tax and Economic News stories of 2023 that will shape the conversations tax, accounting and financial professionals will have in 2024! See if you agree:
Tax Season 2024 Begins with Purpose
With all the challenges Canadians are facing making dollars stretch these days, there is some good news on the horizon: Tax Season 2024! It’s going to be full of a multitude of tax changes that can lead to a potential refund, increased tax free credits, especially if RRSP season is purposeful in reducing family net income. But for some, a balance due to CRA will come with high interest charges if it can’t be paid by the April 30 filing deadline.
CPP Introduction: It’s the Wrong Time
January 1 is the introduction date for the CPP2. A new tier of premium increases begins for higher income earners. It’s 4% more on contributory earnings between $65,000 and $73,200 – for a maximum additional premium of $188. That’s on top of a $3754.45 premium (5.95%) on the first $65,000 of contributory earnings. The self-employed pay both the employer and employee portions to a maximum of $8111. Knowledge Bureau Report asked its readers: in your opinion, will the CPP2 premium increase starting January 1, 2024 cause financial hardship to employers and employees? Overwhelmingly the answer was yes: 88%. Here were some of the reasons why:
UHT: Should it Stay or Should It Go?
The Underused Housing Tax (UHT), was introduced as a tax on vacant homes owned by non-residents in the April 19, 2021 federal budget. According a recent interview with Investment Executive, the tax has already raised 30 million dollars as of mid December 2023, but on closer look, less than 2% of the 426,200 returns assessment had taxes owing, and the amount collected has fallen short of goals. Is it worth the complexity and the cost of compliance to keep it in place? That’s our January poll question. Here’s some background:
