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.
October 2024 Poll
October was small business month! Do you think more Canadians today are interested in starting their own businesses?
Tax Audits are Working for the CRA
The government has invested in the Canada Revenue Agency because it brings great returns. Consider the results in the latest CRA Departmental Report, described below. Then, consider the additional powers and money behind them granted to the department in the latest federal budget and in particular the concerning new provisions that introduce a Notice of Non-Compliance into the mix.
New Credentials for CE Savvy Summit Students!
Knowledge Bureau is pleased to introduce a new Diploma in Advanced Family Tax Compliance. This comprehensive program is ideal for experienced tax accountants and wealth advisors who require updating in the latest tax and economic changes from Finance Canada and CRA in order to help clients meet tax filing compliance requirements and family wealth planning objectives. The program comprises of four online courses, 5 chapters each, and 4 virtual CE Summit events.
Practice Management: Future Dividends: Separating Advice from Investments | Michael van Lierop
Studies have shown that advisors typically spend upwards of 30% of their time in any given week dealing with client investments (re-balancing, trades, compliance, admin). What would it mean for you if you suddenly recaptured a third of your week? Image the savings in time and money if you could reduce overhead or re-assign staff to more productive work! In this impactful session with Michael van Lierop and sponsored by New Outlook Wealth, learn how to earn the Freedom Dividend only at the 2024 Acuity Conference for Distinguished Advisors November 10-12 in Montreal.
Updated Course! Budgeting & Forecasting for Small Business
to rethink their approach for managing operations to avoid the unprecedented business closing statistics (refer to prior article this issue). However, paying increased attention to financial performance, profitability, and cash flow to meet obligations on both a personal and business level can matter greatly when embracing challenges in the areas of high interest rates, inflation, supply chain management, changes in consumer expectations, and a tight labour market. Knowledge Bureau’s newly updated Budgeting & Forecasting for Small Business course helps provide the strategic and technical insight needed and you can enrol now!
New 30-Year Amortizations for Insured Mortgages
Effective August 1, 2024, the government will allow 30-year mortgage amortizations for first-time homeowners who purchase newly built homes. For existing mortgage holders who meet specific criteria, “permanent amortization relief” will be available to extend repayment periods for as long as they need to get to the number they can afford to pay monthly. It’s an extension from the 25-year mortgage amortizations previously allowed. However, this isn’t for everyone… there is a significant risk to lifetime wealth creation and must be managed with an eye to interest rates and payment terms to reduce the non-deductible interest costs.
