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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.
September 2024 Poll
“Are you concerned about taxpayer rights now that the Federal Government has proposed to expand CRA powers to requests for oaths and affidavits at audit and a new Notice for Non-Compliance with significant penalties attached? Tell us why or why not!”
Tax Specialists: The Right Time to Make an Impact
Filing tax returns is for millions of households, the most important financial transaction of the year. While helping with this task is often challenging, with unprecedented complexity in tax law and a highly digitized environment at CRA, specialized tax accounting skills have helped professionals evolve into a highly rewarding career with an extremely bright future. That makes this the right time to step up, meet the demand for more services and scale up the industry, too. Consider the following statistics and trends:
The New UHT Still Evokes a Scary Memory
Halloween is right around the corner, with the annual treats already proliferating in local retail outlets. For most tax professionals, however, this brings a reminder – if not a recurring nightmare – about the first Underused Housing Tax (UHT) filings which were abruptly aborted by CRA the afternoon of October 31. Since then, more changes to the UHT have been passed into law, specifically in Bill C-69 on June 20, 2024. This brings more certainty to the tax and filing requirements, briefly summarized below, and an audit alert.
SimpleFile: A Summer Project
This summer another half a million people were invited to try the SimpleFile pilot project; bringing the total number of invitees to two million potential tax filers of the 2023 tax return. The project has had minimal uptake so far: only 50,000 people (0.2% of all tax filers) have used it in the period February 5, 2024 to September 2, 2024. What’s the objective for this big project?
Canada’s Fall CE/CPD Tour: 9 Events September 18 - November 12
Choose your CE/CPD Adventure! Knowledge Bureau and its esteemed partners proudly present 9 impactful events for your professional development. Mark your calendar now, register below and come think, collaborate and connect with your peers – live or in person!
Introduce New Specialized Credentials to Your Team Training by Sept.15
Are you training your team this fall? Now is the time to take advantage of our lowest tuition fees of the year, and enhance your team’s specialized credentials from our Distinguished Master Advisor (DMA™ Designation Program) or Real Wealth Manager™ Programs and introduce new Specialized Credentials to your team’s training plan! Choose from Personal or Corporate Tax, Accounting, Retirement, Small Business Management and Wealth Management streams.
