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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?
Understanding Synthetic Dispositions – Short Sale of Similar or Identical Property
We continue our Synthetic Dispositions series this week with a look at the short sale of similar or identical property.
The TFSA is Your Ticket to Tax Freedom
Make sure you contribute $5,000 for each resident adult in the family every year.
CRA Gives Guidance on GAAR Rulings
Since 1988, 1,125 files have been referred to the GAAR Committee, according to recent statistics from CRA; CRA presented this and other statistics as it went through the GAAR process at the CRA & Professionals Breakfast Seminar in Toronto on June 6.
United States Senate Approves New Online Tax Scheme
South of the border, our American friends have proposed new legislation aimed at imposing sales tax on customers shopping at large online retail websites.
Will Having a TFSA Reduce the Size of the Guaranteed Income Supplement?
With very minor exceptions, the definition of “income” used to determine the amount of the Guaranteed Income Supplement is the same as “Net Income” under the Income Tax Act.
