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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.
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?
Taxes on the Final Return: Avoid the Greatest Eroder of Wealth
Planning ahead can ensure more of your financial legacy remains intact once you’ve continued on with your journey.
When Can I Avoid Capital Gains on Transfers of Securities to Charity?
You can use a 0% capital gains inclusion rate, rather than the normal 50% rate when transfer qualified securities to your favorite charity, including a private foundation.
Buying a Business: Basic Tax Considerations
So, you have identified a business that you would like to acquire, but you are not sure which method you should use to do so, and how to best structure the deal to best avoid the tax man.
RRSP Over-Contributions and Excess Contributions
To cushion errors in contributions due to fluctuating RRSP room, an over-contribution limit of $2,000 is allowed without penalty, provided you are at least 18 in the preceding taxation year.
The Court’s Analysis: Should Costs of Funding Young Tennis Talent Be Allowed?
Last week Knowledge Bureau Report told you about Michel Bouchard (the “Appellant”) established a partnership known as the Tennis Mania Limited Partnership (“the Partnership”) in order to generate funding to support his daughter’s tennis development. At just 9 years of age, the Appellant was confident that his daughter was talented enough to make a career out of playing tennis. What did the Tax Court of Canada think of the arrangement?
