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Did you know? Fun financial facts for Canada’s 150th

Posted in: Breaking News, Current Issue
Happy 150th Birthday, Canada! We at Knowledge Bureau will be taking some time on this extra-special July 1 long weekend to celebrate Canada’s sesquicentennial, so just for fun, we thought we’d take a look at some financial highlights of the last 150 years.

Interest Rates on Their Way Up? Stay Tuned

Posted in: Breaking News, Current Issue
The prescribed interest rates set by CRA for the third quarter of 2017, July to September, have followed recent trends: there are no changes for the period except for a new 4.47% rate on an election made by foreign corporations regarding PLOIs, Pertinent Loans Or Indebtedness.

First Act to Implement 2017 Budget Now Law

By: Walter Harder Posted in: Breaking News, Current Issue
On June 22, 2017, Budget Implementation Act, 2017, No 1 received Royal Assent and is now law. 

Real Estate Transactions Under Scrutiny at CRA

By: Evelyn Jacks Posted in: Breaking News, Current Issue
The penalties have been huge on the over 21,000 files CRA has audited from April 2015 to March 2017: over 885 penalties totalling $17 Million were applied on close to $330 Million in unreported income, mostly in the Toronto and Vancouver markets.

TFSAs: A Tax-Free Gift from the Government

Posted in: Breaking News, Current Issue
As we approach July 1 and the Canada 150 celebrations, most Canadians who were due to receive a tax refund for the 2016 tax year would have received the funds by now. Be sure to suggest to your clients that they give themselves a big Canada Day gift by using those funds to top up their TFSA.

Explore Canada, Attend DAC 2017!

Posted in: Breaking News, Current Issue
In the months leading up to Canada’s sesquicentennial celebrations, Canadians have been encouraged to get out and explore our great country. And DAC 2017 presents the perfect opportunity for you to head west this November!