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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.
January 2025 Poll
Do you agree with extending the charitable donations giving deadline to February 28, 2025 for the purposes of reducing taxes on the 2024 tax return?
Replacement Properties: COVID Time Not Counted
As the final quarter of 2023 is just around the corner, many taxpayers will want to discuss year end tax planning; specifically, what can be done to reduce cash flow required to settle tax debts triggered by 2023 transactions. Thanks to proposed legislative amendments released August 4, 2023, there’s a little known nugget for investors. It’s possible to recoup prior year tax dollars on capital gains if a replacement property was acquired, and get a pandemic-related reprieve. Here’s how it works:
Kudos to KB’s Tax Audit Defence Strategies at the September CE Summit
Things are changing quickly in the tax world and attendees at the September 20 Virtual CE Summit raved about the educational content they received to stay sharp. If you missed it, we have a great way to stay on top the critical changes to tax planning and new burdens of proof, online, with the new CE Savvy™ Collection – Tax Audit Defence Strategies. You can earn 5, 15, or 30 CE Credits before year end, too. Here’s why professional advisors cannot miss this opportunity to come up to speed with the complex rules from the March 28, 2023 budget and the August 4, 2023 Draft Legislation: you could be subject to big penalties, too.
DAC Acuity 2023: What Makes an Advisor of the Future?
Advisors of the future need to focus on three things, at least if you ask three of our gold partners who will be speaking at DAC Acuity 2023. The keys to success are building transformative teams, finding the secrets to simplicity in complex planning, all the while understanding and balancing your lifeload. Sound like a lofty goal? Join us to hear from the thought leaders who will help break down these strategies November 12-14 in Banff. Early-bird registration ends September 30.
DAC 2023: Explore Banff with These Activities
The early bird deadline is September 30. So there is plenty of time to register for The Distinguished Advisor Conference and save on tuition fees. But there is more great news! We’ve been able to negotiate another block of rooms at the Beautiful Banff Springs Hotel at the KB conference rate – you really can’t afford to miss that! And we’ve lined up some incredibly fun networking opportunities to complement the seriously great educational agenda. Check out all the activities and sign up soon through the DAC Interactive Agenda, as spaces are limited! Secure your place at the futurescape: the 20th Anniversary DAC conference!
7 Big Audit Errors CRA is Catching, Worth Billions
CRA is sharpening its audit focus on Canadian real estate owner and it’s worth billions. Up to 5 different tax returns can be reviewed: the T1, T2, T3, the GST/HST return, and the new Underused Housing Tax. Recent real estate audit activities in two provinces, BC and Ontario, have been particularly fruitful with over $1 billion in tax reassessments that have resulted in each province along with over 3,000 gross negligence penalties amounting to close to $300 million more in the period April 2015 to March 2022. We’ll discuss the 7 big audit errors every professional advisor needs to know about at the CE Summit on September 20 and invite you to register by September 15 for an early bird offer. Here’s a brief synopsis:
