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Financial Issues & Answers for Everyone
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.
December 2025 Poll
It costs a lot more to go to work these days. Should the Canada Employment Credit of $1501 for 2026 be raised higher to account for this?
Changes to Paper Filing Disempowering
Last tax season, only 7% of all Canadian tax filers filed on paper. The CRA is pushing for zero. It continues to steer the holdouts to digitized filing by adding lots of obstacles. Most recently, it is removing almost all the schedules from the tax return package it mails. This seems unfair to people who paper file because they can’t afford a computer and internet, distrust the security of online filing and those who are neither tax or computer literate. Here’s what they are up against:
Make Tax Efficient Spousal Loans
One interesting and potentially beneficial financial strategy to grow the family’s wealth is to draw up an interspousal loan. With interest rates coming down again the plan may have more appeal again. Here’s how to make it work to stay onside with CRA, and some of the benefits:
The Lucrative Disability Tax Credit
Did you know that the Disability Tax Credit is not only lucrative when it is claimed on the tax return, but it is required to enable fifteen other provisions on the return. There is so much money left on the table when this provision is missed. Here are the additional provisions, and why working with a DMA™ Personal Tax Services Specialist is so important. In fact, it’s not too late to get this credential yourself before the start of the tax season.
May Your Holidays Be Magical — And Your New Year Filled with Joy
As we approach the close of another meaningful year, all of us at Knowledge Bureau would like to extend our sincere thanks to our readers, contributors, faculty, and professional community. Your commitment to lifelong learning, technical excellence, and thoughtful leadership continues to inspire everything we do.
Time’s Up: CRA’s 100 Day Mandate for Improvement
After years of frustration on the part of tax professionals and taxpayers alike, the Finance Minister ordered the Canada Revenue Agency to clean up its act in 100 days. Specifically, the improvement plan was to run from September 2 through December 11. Finance Minister and Minister of National Revenue, Francoise-Phillippe Champagne instructed CRA to fix “unacceptable wait times and service delays.” Time’s up this week and CRA has released an update on progress. What gets measured, gets done. Let’s see what CRA’s metrics show.
