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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?
DAC 2022 An Outstanding Event; Plans for Banff Nov 11-14, 2023 Announced
Distinguished Delegates at DAC 2022 were asked to get out of their comfort zones and make new, big goals to embrace what will be a difficult 2023 for their clients as a recession looms, CRA audits and recall of bank loans darken the horizon. At the same, time, however, there has never been a more perfect opportunity to add the highest value as professionals in the accounting, tax, bookkeeping and financial services. Twenty-four outstanding thought leaders made their case for building Velocity in anticipation of their enhanced services this year.
DAC 2022 Distinguished New Advisor of The Future Award Winner: Doug Buss
The 2022 Distinguished New Advisor of the Future Award Winner is a 35-year veteran of the financial services industry who has re-engineered his practice to epitomize what it takes to pivot and become the advisor of the future. Doug Buss, of Winnipeg, has 6 staff members at YourStyle Financial and plans to double his assets under management over the next 5 years.
High Prescribed Interest Rates: Plan Now
CRA has announced the fourth quarter prescribed interest rates and as expected, they rose again. It is now very expensive to owe money to the CRA, and any taxpayer who does, is well advised to pay off that debt as soon as possible. The prescribed interest rates for October 1 to December 31 are as follows:
Options? The Challenge of Rising Prices, and Cost-Push Inflation
Inflation continues to be top of mind for most of us as we see prices increase at the grocery store, gas station, and pretty much everywhere else. Advisors and clients can build out defensive strategies with a better understanding of inflation in today’s context; the subject of this, the first of a three-part series.
Payroll Deductions: A Tax on Labor
By definition, payroll remittances are mandatory statutory deductions withheld from an employee’s pay by an employer for the purposes of funding government programs. But are they a tax? The answer is yes, and this is why:
