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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.
February 2025 Poll
In your view will the new U.S. tariffs affect your clients’ business and retirement plans?
Hold On to Your Tax Records
The CRA doesn't want your receipts when you file your return, especially if you are joining the over 5 million Canadians who will Netfile this year. However, be prepared to send in that hard copy on a post-assessment audit which many Canadians are subject to each spring.
Pre-Consultation Brush Up on Trust Rules
The March 21, 2013 Budget is proposing major changes to the taxation of trusts in Canada, which will have significant family succession planning implications. Here in the first of two articles, Greer Jacks reviews existing rules, which every tax and financial professional may wish to be aware of before the rules are changed in order to participate in fruitful consultations on the matter.
You Can Claim Bus Passes and Other Public Transit Costs
Riding the bus or subway? Remind all family members to keep receipts because you may be able to make a claim on your tax return for the costs.
BC Residents Will See Their GST Credit Cheques Reduced as of April 2013
As a result of reverting from the HST back to the GST and PST system in BC, the provincial HST Credit has been abolished.
Must Audit Support Documents Be Electronically Filed?
Starting in May 2013, CRA will again begin its Processing Review Program, which initiates requests for supporting documentation for claims made on tax returns.
