Knowledge Bureau Report

We Report, We Teach, We Tweet.

Knowledge Bureau is your leading financial education network. We cover the most current issues in the tax and financial services landscape, interpret them and bring the highlights right to you. You’ll learn about taxes, investing, retirement, estate and business planning.

Stay in the know with the Knowledge Bureau Network. Get breaking news by email, use practical tools for answers, read influential blogs, take quizzes, watch short financial lessons, learn professional skills online, at regional workshops and conferences.

Bank of Canada Increases Interest Rate to 1.5%

By : Knowledge Bureau Staff Writers Posted in: Strategic Thinking, Current Issue, knowledge bureau, interest rates, Bank of canada, Evelyn Jacks, Poloz
Bank of Canada raised its benchmark interest rate to 1.5 percent (up from 1.25 percent) as anticipated, in an announcement from Governor Stephen Poloz this morning.

Consumer Woes: New Surtax hits Cross-Border Shoppers, While Interest Rates Rise

By: Evelyn Jacks By : Posted in: Strategic Thinking, Debt Management, Financial Literacy, knowledge bureau, Evelyn Jacks, financial education, online courses, budgeting, US tax, NAFTA, Canada's competitiveness, trade agreement, buy Canadian, Canadian-made food, "Trump-free", Canadian dollar, Canadian agriculture, grocery budget, cross-border shopping, duties and taxes, US exemption limits, surtax, tariffs, Canadian economyu
Canadians spend anywhere from $4.7 to $8 Billion on cross-border shopping and if you spent the July long weekend looking for bargains in the U.S. you may have had an unpleasant surprise:  despite the loonie holding some ground against US currency, a new 10% surtax on certain consumer goods came into effective July 1, when if you exceeded your exemption limit.

Despite Obstacles, Canada’s Growing Labour Force Points to Strong Economy

By : Knowledge Bureau Staff Writers Posted in: Strategic Thinking, Financial Literacy, self-employed, knowledge bureau, interest rates, Bank of canada, Evelyn Jacks, tax courses, distinguished financial advisor, Canadian economy, financial education, entrepreneur, Executive Business Builder Program, Business Builder Retreat, labour force, job market, unemployment rate, stephen Polaz, debt and cash flow, business owner
Despite all the doom and gloom reported lately, Canada’s economy is actually growing. All signs point to an increase in Bank of Canada rates later today, as a new Labour Force Study from Statistics Canada indicates that for the month of June, the country’s labour force increased with the creation of 31,800 new jobs. The report also cites increasing self-employment levels.

Succession Planning: The Legalities Business Owners Need to Know

By : Knowledge Bureau Staff Writers Posted in: Strategic Thinking, self-employed, knowledge bureau, succession planning, Evelyn Jacks, leadership courses, Executive Business Builder Program, business builders, transitioning a business, business law, Philippe Richer, buying a business, leadership decisions, online law courses, employee rights, selling a business, incorporation
Succession planning hinges on sound leadership development and astute forward-thinking, but there are also legal factors to consider. This week, Philippe Richer, author of Knowledge Bureau’s new Business Law certificate course in the Executive Business Builder Program, shares some important legal considerations for transitioning or selling your business. Philippe will also join us as a special guest lecturer at the new Business Builder Retreat.

Tax Literacy: Helping Canadian Newcomers Settle In

By: Evelyn Jacks Posted in: Strategic Thinking, tax preparation, Financial Literacy, tax credits, knowledge bureau, Evelyn Jacks, income tax estimator, tax filing, tax courses, non-refundable tax credits, distinguished financial advisor, financial education, immigration, Canada immigration, newcomers to canada, Canadian residence, residence period, tax credits for immigrants, Canadian emigration, expenses and deductions
Did you know that 1,212,075 new immigrants permanently settled in Canada from 2011 to 2016, representing 3.5 percent of Canada’s total population in 2016? Tax and financial advisors have a great opportunity to help with the financial affairs of these families, especially because the tax rules are somewhat different for these residents.

Mortgage Stress Test: Benefits to Canadian Debt Management

By : Knowledge Bureau Staff Writers Posted in: Strategic Thinking, Debt Management, Real Wealth Management, Financial Literacy, Financial Advisor, investment, knowledge bureau, interest rates, Evelyn Jacks, real estate, master financial advisor, retirement income, financial education, mortgage stress test, mortgage lenders, Retirement and Estate Services Specialist, holistic wealth management, Canadian debt levels, debt to income ratio, qualifying for a mortgage, wealth building, Tax Strategies for Investors
In January, a new mortgage stress test was put in place requiring Canadian home buyers to qualify at rates higher than the benchmark interest rates imposed by the Bank of Canada and individual lenders. The implications to Canadian debt levels and the housing market are factors advisors should consider when offering holistic advice to clients.