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.
July 2024 Poll
Starting in July, CRA will provide legal warnings to recover more than $9 billion of overpaid pandemic recovery benefits like CERB. Do you think that is fair?
CERB Audits and Appeal Rights
Recently, Canadians who received CERB in 2020 have been receiving letters from the Canada Revenue Agency (CRA), requesting further information to support their eligibility for CERB. It’s important to know that taxpayers have the right to appeal if they receive a reassessment with respect to repaying the Canada Emergency Response Benefit (CERB).
Tap Into Education Funding for Tax Season Training
Now is the time train new and returning employees for the upcoming tax season...did you know your training costs qualify for grants and funding? That includes those incurred through a Knowledge Bureau education.There are both granting and funding options available when you need to train staff in a hurry based on where you live. Here are the details.
Crocus Fund Receivership Being Wrapped Up
The investors of the Crocus Fund will be receiving a final settlement in 2022. Specifically, the payment will be 36 cents per share, and it will be made after September 30, 2022. While most people will have held these shares in their RRSP account and will have no tax consequences, the disposition of these investments in non-registered accounts will need to be reported.
Knowledge Bureau Network: Raising the CPP Survivor’s Benefit
The Liberal government has proposed that the CPP survivors’ benefit be raised by 25%. It’s an important step in the right direction, but it may not be enough to fairly represent the lost contributions from a lifetime of mandatory contributions by a deceased spouse. This requires review and here’s why:
Tax-Efficient Retirement Plans Post-Pandemic
According to a recent ISPOS survey on behalf of the Institute of Actuaries, 23% of working Canadians say that the pandemic will change the timeline of their planned retirement. They feel they’ll need to work longer to earn enough to retirement, and yet, still only 52% of working Canadians think they’ll be able to live comfortably once they do retire. What needs to be considered in retirement planning to address the new demands of the pandemic, along the increasing life expectancy in Canada, and the increase in workers age 65+ in the workforce?
