Knowledge Bureau Comments on Proposed Changes to the VDP

CRA is proposing changes to its Voluntary Disclosure Program (VDP). In response, Knowledge Bureau submitted the following comments for government review in advance of the August 8, 2017, consultation deadline: 

Renting Part of your Home? Watch Your Tax Bill

Renting out the basement, or even just a room, in one’s home has long been a great way to tap into an additional stream of income to improve cash flow, enhance savings or reduce debt.

Foreign Asset Reporting

If your clients own assets abroad, they must submit Form T1135 Foreign Income Verification Statement to CRA to disclose whether they had “specified foreign assets” held during the year, if the total cost at any time exceeded $100,000 Canadian. 

Manitoba is One Step Closer to a Pooled Retirement Pension Plan (PRPP)

New provincial rules were finalized earlier this month governing the use of Pooled Retirement Pension Plans in Manitoba. 

Life Purpose

  “The way we communicate with others ultimately determines the quality of our lives.” – Anthony Robbins

Time to Update Your Educational Calendar

With all the “back-to-school” ads playing now, perhaps you’re also thinking about putting your professional education plan in place to map out how you will achieve your CE/CPD credits this fall.

DAC 2017: It’s All About the Speakers

Over the next several weeks, we will be acquainting you with the phenomenal speakers who will be sharing their thought leadership at this year’s Distinguished Advisor Conference.
Knowledge Bureau Poll Question

Do you agree with new proposals to tax passive investment income inside a small business corporation at top personal rates?

  • Yes
    20 votes
  • No
    157 votes