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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.
July 2024 Poll
Starting in July, CRA will provide legal warnings to recover more than $9 billion of overpaid pandemic recovery benefits like CERB. Do you think that is fair?
Expect Fast Refunds, But Not ‘Til March.
Over the years, CRA’s EFILE service has significantly evolved. But even if you were first in line to file this week, refunds won’t arrive until March. There is a lot of money at stake: last year close to 20 million filers waited to receive an average tax refund of $1,850 and only 25% or just under 5 million chose to get it by cheque. EFILE can definitely help to speed things up.
Cyber Security, Electronic Signatures and Date Stamps
It’s a new era in electronic filing. Yesterday the CRA released new information about how to file 2020 tax returns using electronic signatures, a new Form T183 and date stamps. The timing was interesting. Recall, just last week CRA locked over 100,000 taxfilers out of their online accounts because it detected security breaches. Here’s what you have to know about new digital filing and security defence strategies.
Newly Updated Course: Accounting for Solopreneurs as Unemployment Soars
The “gig economy” is on the rise, it is estimated that close to 45% of the workforce in North America is now self-employed and more specifically, 40% of Millennials in Canada. A new course from Knowledge Bureau is providing tax and bookkeeping practitioners with the critical skills to help these new “solopreneurs” in multiple sectors: builders, retail outlets, importers/exporters and a variety of agricultural ventures as well as non-profits.
RSVP Now: The Next High-Demand CE Summit is May 20
Are you a regular, raving fan and attendee of the CE Summits? Now is the right time to RSVP and secure your spot at the lowest tuition fees. Act by March 1 and save over $230 on the next four events. Coming up next: the annual Post-Budget Overview and its effect on Retirement & Estate Planning. Here’s a look at the speaker lineup:
Pre-Budget Tax Consultations
Have you completed the pre-budget consultations questionnaire the Finance Department has posted? The government wants your feedback, but are the questions posed relevant? Notably absent are personal and business tax topics, and the opportunity to provide your thoughts on the effect of long-term debt on the future value of Canadians’ retirement savings. Perhaps most puzzling is the lack of vision for the future of the world of work and specifically, the role of small businesses in the economic recovery. Contributing to the conversation is, however, important to bring your “feet-on-the-street” perspective.
