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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?
News from Tax Court: Crown appeals Guindon
The Crown has appealed a recent Tax Court of Canada (TCC) decision that ruled penalties were criminal in nature, not civil. If the ruling is upheld, advisors will come under increased scrutiny.
Sometimes it’s all about the proper procedure
If you are disputing a re-assessment of your income tax filing with the Canada Revenue Agency (CRA), failing to choose the appropriate appeal procedure can prove very costly.
Forecasters’ moderate outlook
Look for slower growth in gross domestic product (GDP) in 2013 before it picks up again in 2014, say private-sector forecasters.
2013 CPP contribution rates
For 2013, the maximum pensionable earnings under the Canada Pension Plan (CPP) will be $51,100, up $1,000 from $50,100 in 2012.
From civil to criminal
A civil third-party penalty has been judged a criminal penalty, shifting the burden of proof to beyond a reasonable doubt and shaking up the Canada Revenue Agency (CRA).
