People in the News

By : Knowledge Bureau Staff Posted in: Breaking News
Providing value to your clients: Andre Yong Tit Kow, DFA - Tax Services Specialist™, Ontario

Life Purpose

By : Knowledge Bureau Staff Posted in: Breaking News
“The first responsibility of a leader is to define reality.”  Max DePree

CRA Issues New Tax Collections Policies

By: Alan Rowell Posted in: Strategic Thinking
The CRA has cancelled Information Circular IC98-1R5 and replaced it with a sixth version, which provides a new overview of CRA collections policies for individuals, corporations, GST registrants, employers and those who import or export or travel across borders. Advisors and clients will want to refresh on their obligations:

Interest Deductibility Varies on Investment Activities

By: Evelyn Jacks Posted in: Strategic Thinking
When can you claim the interest on investment loans? It’s a common question but the answer depends on the investment for which you are borrowing money. In order to claim the interest when you borrow money to invest, your loan must meet three criteria.

Close to 90% Call for Raise in Allowable Auto Claim Restrictions

By : Knowledge Bureau Staff Posted in: Strategic Thinking
It was almost unanimous: 89% of responders to January’s Knowledge Bureau Report poll question agreed—the $30,000 cap on claiming luxury vehicles has long required a raise to reflect more accurately the price of cars this century. Here are the significant comments that accompanied the vote:

Tax Tips: What Expenses Can Employees Claim on The Tax Return?

By : Knowledge Bureau Staff Posted in: Strategic Thinking
There are over 28 million tax filers and two-thirds of them pay income taxes, on average at a rate of 16% of total income. The vast majority of those taxes - 70% in fact - come from employees, whose earnings are subject to tax withholdings with every paycheque.