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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.
December 2024 Poll
Should the $250 Working Canadian Rebate be passed into law to provide tax relief to individuals with working net income under $150,000, who also contribute to the CPP?
People in the News
Gain confidence and trust of your clients: Wisdoms from Sharon Timson, DFA - Tax Services Specialist, Manitoba
Life Purpose
"I am grateful for the blessings of wealth, but it hasn't changed who I am. My feet are still on the ground. I'm just wearing better shoes.” - Oprah Winfrey
Are Legal Fees Paid to Collect Severance Tax Deductible?
Leaving a job can be a painful experience if it’s not your idea. Often legal challenges erupt. That can be costly. . .but can the CRA provide any relief when legal fees skyrocket?
Uber Drivers and Salespeople: Claiming Automobiles is Tricky
What do commissioned sales people and Uber drivers have in common? They each will want to know the difference between an automobile, a passenger vehicle and a motor vehicle, especially if they are keen on claiming all the deductions possible against their income this tax season. Especially when using a car for salaried work, commission sales or self-employment, it pays to file an audit-proof return, as these claims are often audited.
New Rules for Principal Residences Held in Trusts
Along with the sweeping changes to require individuals to report the disposition of their principal residences after 2015, changes to the rules for trusts that own property that is the principal residence of a beneficiary have also changed. Be prepared to discuss changes in eligibility and to get valuations of property done now.
