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.
You may have heard the saying “the harder I work, the luckier I get.” When it comes to tax, bookkeeping and financial advisory services, it can also be said that the more education you have, the better the advice you’ll give to the benefit of your lucky clients. For these reasons, we offer you twin “pots of educational gold” on this St. Patrick’s Day.
Canada’s last Federal Budget occurred on March 19, 2019. The 2021 budget has now been deferred again making it more than two years since our country had one. Why is this important news? Because Canadians need to make decisions about their financial futures, with the benefit of economic forecasting and certainty about tax law. And there are many recommendations about needed change to talk about.
In any already complex tax year for many taxpayers who claimed COVID-19 income support benefits, there’s another complication being added to the mix. Last week, the CRA confirmed that some taxpayers who repaid benefits they were not eligible for in 2020 have received tax slips that incorrectly include portions of the repaid benefits as taxable income.
March 15 is coming up quickly, and it’s a date that the ancient Romans considered the deadline for settling debts. It’s also an upcoming quarterly tax instalment deadline with the CRA . Our modern day tax departments looks to have their debt paid in advance from certain taxpayers. Here is what you need to know:
Busy small business owners in your community are in desperate need of reliable and highly-qualified bookkeeping services to interpret the documentation and assemble it so that they can make smart tax-efficient decisions that focus on the future financial health of the business. Get new skills to enter this in-demand field, or further enhance your existing credentials with important training opportunities from Knowledge Bureau, now available online.