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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.
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?
Knowledge Bureau is Instagram Official
It’s official! We are on Instagram. Follow us @knowledgebureau1 to find out the latest Knowledge Bureau news, courses and events. Or if there’s anything specific, you’d like to see on this social platform please reach out and let us know. It’s our 20th Anniversary this year, so we are excited to share contests, promotions and news with you. And quite frankly – we can’t wait to connect directly with you.
Crypto Assets: Are Taxpayers Reporting Them?
Cryptocurrency can't stay out of the headlines - just last week (on their first joint statement on crypto) the Federal Reserve, Federal Deposit Insurance Corp (FDIC) and the Office of the Comptroller of the Currency (OCC) said they had concerns with the safety and soundness of bank business models that are highly concentrated in crypto. No government wants any 2022 problems sneaking up - a truly notorious year for cryptocurrency with the collapse of FTX.
CPP Premium Hikes Reduce Crowd Out Savings Plans
Both the CPP and EI contributions – which are mandatory – have risen. This will reduce take-home pay for employees. However, for those who are self-employed and must pay both the employer’s and employee’s portion of the CPP, things are about to get much more expensive and that could start to crowd out critical TFSA and RRSP investments for their futures.
The CPP Is Sustainable, But There Are Uncertainties
The 31st Actuarial Report on the Canada Pension Plan (CPP)[1] was released to the Finance Minister on November 14 and tabled in Parliament on December 14, 2022, as required by law, every three years. It is an important and comprehensive overview of Canada’s vital economic statistics from which to project the sustainability of the CPP. What’s interesting about this report is how the uncertainties ahead may affect our rate structure and what a wealth of economic news it brings.
Are Your Clients Thinking of Retiring in 2023: Think Again?
There’s an argument to be made with high inflation, a shaky economy and possibly lacklustre returns – that this year is the worst year to retire. Retirees NEED to know how long their assets are going to last. High inflation makes that tricky as retirees must draw down more income to pay for basics like groceries and gas.
