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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.
March 2025 Poll
In your view, has CRA improved its services to clients and tax preparers this year?
How to Determine Whether a Gain is Income or Capital?
Your client has just flipped a principle residence, sold a speculative piece of property or traded frequently in his or her TFSA. Is this a business transaction, a capital gain or an exempt transaction? In order to determine whether a gain is of income or capital nature, there is no determinative test. However, there are some clues to follow in anticipating the tax outcome and an important precedent-setting case.
DAC Sneak Peek: Meet Our Speakers & This Year’s DAC-in-a-Box
The experience at this year’s Virtual DAC Acuity Conference may just beat out last year’s – which the Globe and Mail touted as one of Canada’s most innovative virtual conferences. Check out this sneak peek through our new speaker videos and DAC-in-a-Box program guide, and then enrol by September 30 to take advantage of early-bird tuition prices.
Uncertainty Lingers: Majority Won’t be Hiring in 2022
The reasons are varied, but 60% of KBR readers polled last month said they won’t be hiring new seasonal staff in 2022 and the prevailing reason is uncertainty. Those who will be hiring won’t be doing so before year end but are busy making training plans now. Here are some of their thoughts on preparing for tax season 2022:
New! August Updates to EverGreen Explanatory Notes
Tax pros need to stay up-to-date all year long! Knowledge Bureau’s Evergreen Explanatory Notes should be your go-to reference for answers personal, corporate and GST/HST questions. It’s your own top notch tax research library that seamlessly links you to CRA publications and forms while providing educational notes and examples. Best of all it is included in all certificate courses or as a stand-alone subscription. Here are the topics updated in August:
Claiming Quarantine Hotels & Testing Costs
It’s a frustrating time: the fourth wave is upon us, and soon too will be tax season 2022. While the need to stay in quarantine hotels ended on August 9, many Canadians expended significant sums to come back to Canada from abroad during the pandemic. Are those costs deductible? The answer depends on the taxpayer profile and circumstances of the expenditure, according to recent CRA interpretations.
