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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?
People in the News
Confidence in Knowledge Leads to Expansion: Joey LeBlanc, DFA - Tax Services Specialist™
Life Purpose
“Far away there in the sunshine, are my highest aspirations. I may not reach them, but I can look up and see their beauty, believe in them, and try to follow where they lead.” Louisa May Alcott
Tax Tips: Help Newcomers to Canada Help Themselves to Tax Credits
This year, new immigrants include more refugees who need to come up to speed on how to benefit from the many refundable and non-refundable tax credits and deductions available in Canada. You may wish to take a new family under your wing and help them navigate this task.
Loonie Value Reaches Three-Month High Relative to the US Dollar
On Tuesday, the Loonie was worth $0.7657 US. This is the highest value we’ve seen since September 23, 2016. Sadly the dollar is still more than 30 down from January of 2013 when it was last on par with the US Dollar. So what are the tax implications for investors of exchange rate fluctuations?
Coach Houses and the Principal Residence Exemption
In communities where rental accommodation is scarce, more and more homeowners are building a second dwelling on their lot and renting out that “coach house” or “carriage house”. Many have not thought about the tax consequences, though, and they could be complicated. The key question: will your tax exempt principal residence status be affected by this second dwelling?
