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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.
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?
DTC Filters Subject to New Rules
Due to a court injunction, the Disability Tax Credit (DTC) Promoters Restrictions Regulations, which were to have taken effective November 15, 2021 have suspended until further notice. The regulations were to have limited fees paid for DTC applications to $100. We will keep you updated regarding the status of the injunction, but here’s what you need to know about the new regulations:
T3 Trust Filing Requirements Change in 2021
A big new tax filing deadline is approaching and tax and financial advisors must make their clients aware: all non-resident trusts and most express trusts resident in Canada must start filing T3 returns for tax years ending on or after December 31, 2021 and the filing deadline is coming up fast: March 31, 2022. Here’s what’s at issue:
Getting New T3 Trust Returns Right
Tax compliance regarding T3 Trust returns is in the spotlight as new efile requirements begin for the tax filing years ending December 31, 2021 forward. Here’s a primer on what you need to know; a preview of a newly revised professional certificate course, Filing T3 Trust Returns at Knowledge Bureau by Faculty Member and Instructor, Diane Elliott.
Poll Results: Are Tax Pros in Favour of Anti-Flipping Capital Gains Tax?
It was a close race with our most recent poll question, with respondents torn when it came to the question “Do you believe a potential anti-flipping capital gains tax on principal residences is a good idea?” This was a change proposed in the election and while the majority were in favour, most of the comments were in the negative, here’s what you said:
Beat Tax Time Staff Shortages: Enrol Now in T1 Advanced Tax Update
Trouble finding qualified help for tax season? Canada’s most comprehensive and popular advanced tax update is now taking registrations for January 19 Virtual event featuring the “Tax Bible” – the popular name for the comprehensive desk top reference coveted by tax and accounting professionals from coast to coast. This is the time to train staff in a new and improved hybrid live and online course to shake out the cobwebs and drill down on dark horses and news for filing 2021 tax returns.
