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Canada “Celebrates” 100 Years of Income Tax

Posted: September 19, 2017
Posted in: Strategic Thinking, Current Issue , CRA, tax court, knowledge bureau, Canada Revenue Agency, income tax act, Evelyn Jacks, income tax, tax courses, tax preparer, Canadian income tax, history of income tax, tax history, Income War Tax Act, income tax appellant process, notice of assessment, Tax Review Board, Superior Court of Record, Income Tax Appeal Board, Canada celebrations, important dates in Canada, Canadian history

National income tax is such a given in western economies that we lump it in with death as being unavoidable and portray the “Taxman” as some kind of grim reaper. But, in reality, federal income tax is a fairly recent invention — in Canada, we’ve just now reached the 100-year anniversary of the practice.

Time to Learn Tax Preparation? Canadian Income Tax is 100 Years Old This Month

Posted: September 08, 2017 VIA: Knowledge Bureau
Posted in: Breaking News, Economic News, Strategic Thinking , Federal Government, taxation, knowledge bureau, Evelyn Jacks, income tax, tax services specialist, distinguished financial advisor, tax education, financial education, tax preparer, Introduction to Personal Tax Preparation, tax reform, post-secondary education, financial services jobs, Canadian income tax, tax Canada, history of tax, history of income tax, Tax Acts, Income Tax Acts, tax preparer course, tax preparer certification, tax career, tax jobs

The 100th anniversary of personal income tax is coming up on September 20! On that day in 1917, The Income War Tax Act received Royal Assent, heralding in the first personal income taxes in Canada. Perhaps it’s high time you tackled the challenge and mastered the tax return and all it’s nuances? It’s an investment that could really pay off for you.

Nine in 10 Business and Financial Pros Oppose Morneau’s Tax Proposals

Posted: September 01, 2017 By : Tamar Satov
Posted in: Strategic Thinking , Federal Government, Financial Advisor, taxation, knowledge bureau, Evelyn Jacks, income tax, tax evasion, Small Business, Canadian economy, financial education, tax preparer, tax reform, proprietorship, financial planner, wealth manager, proposed tax changes, tax regulation, tax regime, Canadian small business, private business, business owners, tax in Canada, standards of living

Accountants, bookkeepers, financial advisors and business leaders are joining the chorus of dissent against Ottawa’s proposed tax changes affecting private corporations, warning of dire consequences to the Canadian economy if implemented, a Knowledge Bureau survey finds.

7 Factors for Classifying Your Side-Gig Income with the CRA

Posted: September 01, 2017 By: Evelyn Jacks
Posted in: Strategic Thinking , Tax Planning, CRA, Financial Advisor, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, income tax, tax advisor, tax deductions, tax preparation for proprietorships, tax education, tax preparer, entrepreneur, self-employment, side gig, taxpayer, proprietorships, sole proprietor, self-employed income, business ownership, extra income

About 32 per cent of workers are starting their own businesses on the side for a variety of reasons — including 25 per cent of those who earn more than $75,000 and 19 per cent of those with income over $100,000. For tax purposes, it’s critical to know the difference between someone who is employed and someone who is considered self-employed.

Changes to CPP Will Reduce OAS Benefits for Thousands: How Can You Help?

Posted: August 29, 2017 By : Tamar Satov
Posted in: Strategic Thinking , seniors, tax credits, knowledge bureau, Canada Pension Plan, Evelyn Jacks, guaranteed income supplement, Canadian economy, pensionable earnings, CPP, tax changes, tax education, tax preparers, retirement benefits, Old Age Security benefits, pension, low-income benefits, tax resources

Upcoming changes to the Canada Pension Plan are intended to boost retirement incomes, but for many the opposite will be true, a recent report from Canada’s Chief Actuary finds.

New Canadian Tax Reforms Fail to Address Modern Challenges

Posted: August 29, 2017 By: Evelyn Jacks
Posted in: Strategic Thinking , Financial Advisor, knowledge bureau, ce credits, Canadian economy, tax changes, tax reform, tax reform Canada, income tax Canada, tax news, tax rates, tax revisions, tax preparers, overtaxation, small business tax, CE summits

Just how much is too much tax? For whom? In case you missed it, Canada is in the midst of a contentious tax reform that increasingly advocates the defeated reforms of yester-year.