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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.

This Week’s Edition of KBR:

April 2025 Poll

Do you believe our tax system needs to be reformed and if so, what would be your first improvement? If not, what do you like about it?
Yes: 39 votes
97.5%
No: 1 votes
2.5%
 

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Get Started Now: How to Choose a Trusted Advisor

With a very challenging tax season behind us and more complexity on the horizon with new tax rules, business owners would be wise to take the opportunity in the “off season” to re-think wealth creation in an asset class that others don’t have: the equity in a business enterprise that some day may be sold for millions of dollars.  There are new opportunities to arrange ownership structures to use a new $1.25 Million Capital Gains Exemption or the new Canada Entrepreneur’s Incentive, in addition, the new capital gains inclusion rates, the Alternative Minimum Tax (AMT) and new intergenerational business transfer rules to consider.  This requires the help of a trusted financial advisory team.  Who should be on that team and how do you find them?  Here are some tips:

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Introducting a New Diploma Program

Knowledge Bureau is pleased to introduce a new Diploma in Advanced Family Tax Compliance.  The program provides critical technical studies for professional tax accounting and financial advisors whose clients are facing increasing tax audit risk with recent changes for capital gains dispositions, rental property ownership and family business succession.

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Check It Out: 13 Great Sponsors at the 2024 Acuity Conference for Distinguished Advisors

Have you added your company’s logo to the list of esteemed partners at this year’s Acuity Conference for Distinguished Advisors?   There is still time to promote your good work nationally and join this illustrious group. Get in by September 30!

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Meeting Professional Standards of Conduct

Professionals who are designated specialists are committed to meeting standards of conduct that include professional development annually and an attestation to ethical conduct.  Knowledge Bureau designates who have not yet relicensed have the options that follow.

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Tax Season 2025: Filers of 6 or More Returns Must EFILE

Here’s a dark horse for those who NETFILE six or more T1 returns for friends and family.  Starting in January 2024, it became mandatory for you to register as a tax preparer for the purposes of  EFILE if you accept payment for those returns.  Penalties are charged if you don’t comply and even if you want to, you may not pass CRA’s suitability tests. 

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