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This Week’s Edition of KBR:

April 2025 Poll

Do you believe our tax system needs to be reformed and if so, what would be your first improvement? If not, what do you like about it?
Yes: 68 votes
98.55%
No: 1 votes
1.45%
 

Cast Your Vote

Reduce or Eliminate OAS Clawbacks

Old Age Security clawbacks, technically known as the Old Age Security Recovery Tax, are applied when your tax return is filed, and your net income is over the clawback threshold ($81,761 for 2022). Then, the following July, the government assumes your income will remain the same for the following tax year and starts collecting the clawback by reducing your OAS payments each month.

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DAC Acuity 2022: Wealth Management – Strategic Philanthropy

FIRESIDE CHAT: DOING GOOD You’ve likely heard about social financing: the collaborative investment of public, private and philanthropic funds to re-image our economic structure to build a “Social Infrastructure Network”. At it’s core – doing good is the big idea.

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GAAR Changes:  Will You Meet September 30 Consultation Deadline?

An important discussion is taking place in Canada and tax professionals will not want to miss their chance to weigh in by the September 30 consultation deadline.  Specifically, the federal government wishes to “modernize” the GAAR – General Anti Avoidance Rules - after a series of 24 losses in court.  Here are the issues:

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Three New Government Benefit Programs Start in 2022

The Federal government announced three new refundable benefit programs on September 13, which will put extra money in the pockets of individuals and families. 

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Deadline: Sept 25 – End of Temporary EI Benefits

During the pandemic, the federal government put temporary changes to the Employment Insurance (EI) program in place.  These special programs will end on September 25, 2022.  Employers will want to refresh their memories both on the pandemic response rules, and now, the return to normal for the purposes of informing management and/or payroll departments who may receive questions from departing employees: 

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