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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.
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?
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:
Knowledge Bureau launches registration for the Comprehensive Advanced T1 Tax Update Summit
Coming up virtually on January 17, in person in Toronto on January 24 and in Calgary on January 26, registration for Knowledge Bureau’s 2024 Comprehensive T1 Tax Update for professionals is now open. Check out the detailed agenda online! The program includes not only the presentations for the day but access to the accompanying online course, CE quizzes, accreditation and the new 430-page Knowledge Journal Line-by-Line Desktop Reference, as well as lunch and refreshments at the in-person events. In addition, every student retains a subscription to EverGreen Explanatory Notes and Knowledge Bureau Report for the tax season and until May 6. It’s your complete 2024 Tax Season Toolkit!
Tuition Tax Assistance from CRA: T2202’s Available Now
Did you know that Knowledge Bureau is a private, educational institution certified by Employment and Social Development Canada (ESDC) to provide courses that develop or improve skills for those working in the tax, bookkeeping, accounting, and financial services industries? What this also means is that Knowledge Bureau students who have paid 2023 tuition fees in excess of $100 qualify for the tuition fee amount, and the T2202 tax slips to claim this are now available in your Virtual Campus. Here’s how to claim them:
Happy Holidays From All of Us at Knowledge Bureau
We wish to express our sincere gratitude to you for the privilege of being a part of your professional life over the past year.
Good News for Year-End: Inflation, Savings Rates and Community Support
Canadians and their economy appear to be on the road to financial health. Canada’s Consumer Price Index (CPI) rose 3.1% on a year-over-year basis in November, and while there was no decline from the month before, if the trend continues and the inflation rate falls to within the Bank of Canada’s target rate of 2%, Canadians could look to 2024 as the year the Bank starts cutting interest rates. Better still, because household disposable income has risen at the fastest pace in five quarters, Canadian savings rates have risen, too. There is a fly in the ointment, but even that can’t dampen spirits.
