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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.
January 2025 Poll
Do you agree with extending the charitable donations giving deadline to February 28, 2025 for the purposes of reducing taxes on the 2024 tax return?
How are Businesses Faring in Canada?
How is the economy faring in Canada? The number of personal and business bankruptcies tells the story. Viewed through those lenses the picture in Canada in 2024 is not pretty. In fact, the rise in both bankruptcies and proposals year over year is alarming. What sectors were hit the hardest, and how does the current state of affairs impact the advice tax and financial advisors provide? First, let’s take a look at the numbers:
More Taxfilers, Fewer Charitable Donors
According to Statistics Canada, although we have seen an increase in taxfilers by about 6%, we have seen a decline in the number of donors by approximately 7%. However, the good news is that the value of the donations, in dollars, has increased by almost 15% over a five year period.
Poll Results: Are Canadians Looking to Start Their Own Businesses?
Are more Canadians today looking at starting their own businesses? The answer is yes, according to 65% of the tax and financial advisors who answered last month’s poll question, even despite the economic uncertainty that surrounds small businesses today. However, many comments point to small business ownership being a side gig for those who need to supplement their income due to increased costs of living. Check out all the insightful comments below:
Do You Know What’s New in Personal Taxation?
Get a Comprehensive Look at Tax Theory Changes for 2024-2025, Line-by-line Changes on the Tax Return and Other Key Issues You Should Know About Before the Tax Season! Only at the CE Savvy Summit: 2025 Advanced T1 Personal Tax Update Tour. Choose from Virtual and in Person Events this January and take advantage of group rates for you team training. Register by January 10!
Why Do Financial Professionals Need to Know Tax?
Do you have the skills to provide the process and structure your clients will need to effectively plan for their retirement? Give yourself the gift that keeps on giving and earn new specialized credentials this December with Technical Courses Especially for Financial Professionals. Only $795 per course* (save $200) until December 15. Learn more about how learning new technical tax skills can help you differentiate yourself, attract new business and increase profits by providing a high value service as a trusted advisor to your clients who are increasingly leaning on their financial professionals who need to know tax!
