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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.
October 2024 Poll
October was small business month! Do you think more Canadians today are interested in starting their own businesses?
Welcome Fraser & Partners back as an Acuity 2024 Sponsor!
Knowledge Bureau is pleased to welcome back Fraser & Partners as a Bronze Sponsor at the 2024 Acuity Conference for Distinguished Advisors Conference in Montreal November 10-12. Fraser & Partners is a collaborative team of specialists, and one of their firm’s core values is continuous learning. Connect with them at their exhibitor both during the conference, and learn more about their organization below.
Revealed: Canada Carbon Rebate for Small Businesses
Approximately 600,000 Canadian Controlled Private Corporations (CCPCs) which filed their 2023 corporate tax returns by July 15, 2024, and who have fewer than 499 employees, will receive a Carbon Tax Rebate by the end of the year. The federal government held up payment of $2.5 billion for the past 5 years, and so for some, the payments can be significant. The President of the CFIB, Dan Kelly, who is a keynote speaker at the Acuity Conference for Distinguished Advisors (DAC) in Montreal, November 10-12, welcomed this news.
OAS Rises Close to 3% in Twelve Months
The federal government raised the Old Age Security (OAS) and Guaranteed Income Supplement (GIS) benefits payable to seniors from October to December 2024 by 1.3%, based on changes in the Consumer Price Index (CPI). In total seniors will have received an indexing adjustment of 2.8% in the 12-month period from October 2023 to October 2024. Let’s examine who qualifies these benefits and how this indexing adjustment is calculated.
News for Rental Property Owners
Did you know that Canada now has a Blueprint for a Renters' Bill of Rights? It’s based on four principles the federal government wishes to align with a renter’s right to adequate housing. According to the government, the purpose of the Blueprint is to “express the Federal Government's policy objectives to build a national consensus to protect renters.” But what does this mean for rental property owners? You may wish to discuss this with your clients who have concerns about their ability to collect rents and improve properties.
Poll Respondents are Concerned about CRA Audit Powers
Are you concerned about taxpayer rights being eroded with proposals to expand CRA powers within the audit process? The pros are: 96% of Knowledge Bureau Report’s September poll said yes. Here were just some of their reasons why:
