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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?
Tax Hikes on High Earners Not Favoured
Knowledge Bureau’s September poll asked your opinion about the potential for a 2% tax hike on incomes over the top tax bracket to help pay down the post-pandemic debt. The vote was decisive with 43% for the hike, and 57% against, and the comments on such a reform of the tax system were interesting and definitive. Here’s what advisors across Canada advocated for:
What is the Shareholder Loan Account?
New business owners often have difficulty managing their shareholder loan account, mistaking it for a tax free way to access funds. For these reasons, it’s a good idea to advisors to review what this account is and how it functions. Here’s a primer from Knowledge Bureau’s MFA™-Corporate Tax Services Specialist Program:
The Great Reboot: Year End Tax Planning Critical for 2021
Tax year 2021 may represent the year millions of Canadians made a significant career shift and with that comes a new tax filing profile. Astute tax advisors will make it their business to consult with clients early, especially if new employment and self-employment trends hold true in their communities.
New Online CE Credit Course: Audit Defence for Small Business Owners
Are you working with small business owners who have received pandemic wage or rent supports? Knowledge Bureau’s new Audit Defence: Managing Tax Risk for Small Business Owners is an online certificate course that helps advisors position small business owners for success for potential tax audits in 2021- 2023 with a concise pathway to navigate the complex rules and comprehensive documentation they will need to satisfy queries from clients and manage risk with the CRA.
Gratitute and Thanks
At a time when many have lost their health, suffered the loss of their loved ones, their livelihoods and/or the exhaustion that threatens their resolve, we give thanks for the spirit of human resilience and kindness that emerges in every crisis. It is important to remember that no matter how dark the clouds, we only need to get through the challenges of today to bring forward the bright promise of an incredibly vibrant tomorrow.
