Help & Contact: 1 866 953 4769
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?
Line Up Your CE For the Year with a CE Summit Multi-Event Pass!
As the key eroders of wealth – taxes, inflation and fees – are about to take a bigger bite out of Canadian’s balance sheets…as Real Estate Ownership comes under the CRA microscope. There’s a big opportunity for you to help! You’re invited to learn more at the September 20 Virtual CE Summit on Audit Defence: Managing Tax Risk for Real Estate Owners with Evelyn Jacks, DMA™, RWM™, MFA-P™ AND Alan Rowell, RWM™, MFA™, DFA-Tax Services Specialist™. Register now and select this event as part of your CE Summit event pass: available as a duo, trio or quad of events, you’ll line up your CE for the year and save on tuition!
Canada Dental Benefit: Are Your Clients Applying for It?
Dental care appointments are just one of those annual “back to school” events most parents sign up for. This can have immediate tax advantages. Recall, the Canada Dental Benefit was introduced a year ago. Yet, many parents may not know about it and may not be taking advantage of this opportunity to supplement dental costs incurred for their children. Here are some talking points to re-engage your clients with families this fall:
Reminder: UHT Tax Return Deadline Coming Soon
If you own a residential rental property as an investment or in business with another person, it is important to consider whether it’s necessary to file a new tax return in Canada: the UHT-2900, which is due on October 31, 2023. This is particularly important news for younger real estate investors and therefore, an opportunity for tax and financial advisors to be of help. Here’s how the numbers tell a new story, and why tax compliance is a new issue:
When Are Professional Fees Tax Deductible
Based on CRA income tax filing statistics to August 13, 2023, just under 60% of all the 30.8 million tax returns filed in Canada this year were E-filed, which means the vast majority of Canadians are using the services of a professional EFILER to get their tax returns filed. That’s good news for the industry, which has the opportunity to grow even more, especially if receiving referrals from other financial advisors, always on the look-out for trusted, knowledgeable and highly skilled tax talent. Common question: are tax accounting and legal fees tax deductible? There are some specific rules to know:
Need IIROC Credits Before Year End?
Looking for IIROC credits before year-end? Knowledge Bureau is pleased to offer three educational program options The Real Wealth Manager™ Designation, the MFA-P™ and the Certificate Course Navigating Privacy Issues. These Practice Management programs can be taken anytime, 24/7 online in the convenience of your home or office. Check out the program guides:
