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All items tagged with: tax education

CRA News: Advantage Rules for Investments & 2019 TFSA Limits

Posted: October 02, 2018 By: Walter Harder
Posted in: Strategic Thinking , Financial Literacy, CRA, investment, TFSA, RESP, rrsp, RDSP, tax deductions, tax education, tfsa contribution, RRIF, Walter Harder, investment strategy, contribution limiits

Two new important pieces of information from the CRA impact the registered investment strategies of Canadian taxpayers. The forecasted TFSA contribution limits for 2019, and the long-awaited Income Tax Folio S3-F10-C3, Advantages – RRSPs, RESPs, RRIFs, RDSPs and TFSAs issued on October 1.

Financial Pros Push for Canadian Tax Reform

Posted: October 02, 2018 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , Financial Literacy, Evelyn Jacks, income tax, Essential Tax Facts, Investing, tax education, tax reform, tax rates, Morneau, NAFTA, Canada's competitiveness, U.S. tax, 1%, Canada's tax system, minimum annual income, tax policy

It’s almost unanimous among tax and financial advisors who strongly believe that Canada needs tax reform to create a fair, simple and certain tax system for people of all income levels.

Cash Flow Crunch: Managing the September 15 Tax Instalment

Posted: September 10, 2018 By : Walter Harder & Beth Graddon
Posted in: Strategic Thinking , Financial Literacy, CRA, Financial Advisor, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, tax penalties, tax instalments, tax literacy, tax education, prescribed interest rates, Walter Harder, unpaid taxes, tax payment, taxes due

The September 15 instalment deadline is looming. Many dread yet another payment to the CRA; after all, it seems like only yesterday that personal and business taxes due over the spring and summer were paid! Now is the time for tax and financial professionals to contact clients, estimate taxes owing for 2018, and navigate through taxing times if there is a cash flow crunch.

Canada Caregiver Credit: The Missing Tax Link

Posted: September 10, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , Financial Literacy, CRA, tax credits, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, Essential Tax Facts, tax deductions, tax education, Canada Caregiver Credit, medical claims, senior caregiver, Family Caregiver Credit, Credit for Infirm Dependants, Compassionate Care Benefits, tax breaks

The Canada Caregiver Credit (CCC), new in 2017, is still poorly understood and a complicated tax break to explain. For these reasons, many Canadians have missed claiming it. Tax and financial advisors who really want to help families under medical stress can make a big financial difference will add it to their year-end review and adjust 2017 tax returns for missed claims.

Graduates in the News: Lilian da Silva

Posted: September 03, 2018 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , tax preparation, Financial Literacy, CRA, knowledge bureau, Evelyn Jacks, bookkeeping course, ce credits, tax education, financial education, entrepreneur, online education, Bookkeeping for Small Business, Nancy Folliott, financial statements

Entrepreneur Lilian da Silva of Cambridge, Ontario is a recent graduate of two Knowledge Bureau’s courses, Bookkeeping for Small Business and Advanced Payroll for Small Business. She is so excited about her future, and ready to start her third course for her first diploma. Here’s her story:

Tax Enforcement: Are Subjective Views Helpful?

Posted: August 27, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , CRA, capital gains, knowledge bureau, taxing the rich, Evelyn Jacks, income tax, Canadian economy, tax literacy, tax education, CE summits, CRA audits, CRA workers, 1%, top personal income tax rate, corporate tax rates, capital gains taxes, fair taxation, equal taxation, Business Tax Services Specialist

The results of a mid-month survey of CRA tax auditors by the Professional Institute of the Public Service of Canada (PIPSC) highlight the challenges of keeping Canada’s tax system fair for all. One of them is the easy headlines that pit one group of taxpayers – generally the “wealthy” - against another. But a deeper read of the survey uncovers relevant and possibly more purposeful insights.