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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?
Should I File a Tax Return for My Children?
It’s important for you to file a tax return for children who have any earnings from active employment or self-employment.
2500 Fraudulent Invoices Reap $173,000 HST Evasion Fine
Red Adair, an Oilwell Firefighter once said, “If you thought hiring a professional was expensive, wait until you try hiring an amateur!”
Year End Planning with OAS Benefits
In the final three months of 2013, seniors will receive an inflation-adjusted increased OAS benefit of $550.99 per month, which makes the total annual OAS benefits a total of $6,578.06.
Supreme Court: The Line Between Tax Audits and Investigations
In its Backgrounder to the new Section 237.3, which defines reportable tax avoidance transactions that may be subject to the General Anti Avoidance Rules, Finance Canada has assured taxpayers that the provision, is for “administrative purposes only” and therefore it is unlikely that it will be used to incriminate a taxpayer.
Donations Sent to Terrorists: CRA Revokes Charity Registration
On September 20, the Canada Revenue Agency (CRA) announced that it would revoke the registered charitable status of the Islamic Society of North America (ISNA) Development Foundation.
