Back to School Tax Breaks

Like tax season, back-to-school season rolls around annually with certainty. But in today’s inflationary environment, the start-up costs for getting the family organizing for the school year may seem daunting. The good news is that tax and financial advisors can help clients understand their tax planning options and manage all the receipts that can lead to tax breaks later in the spring during tax filing time. Here’s a primer of topics you may wish to discuss:

As CRA's technology and enforcement strategies continue to evolve, so too must the advisors who guide Canadians through an increasingly complex tax environment. CE Savvy Summit: Issues in Audit Defence on September 23, brings together leading tax experts Evelyn Jacks, Kim Moody and Ruth Horst to examine the latest developments in audit defence. Plus this is the first in a series leading to a new credential for workplace training at Knowledge Bureau: The Senior Tax Specialist Diploma. Register by September 9 for early-bird savings! Here’s a preview: 

Canadian investors continue to navigate a volatile economic environment shaped by inflation, geopolitical conflict, artificial intelligence, and changing demographics. At the same time, Canada's aging population and growing government debt are creating new challenges, and opportunities, for long-term portfolio management. How can advisors best help provide solutions? Brayden Dueck, CFA with our partner BCV Asset Management will lead an enlightening session at the 2026 Acuity Conference for Distinguished Advisors November 22-24 in Victoria. 

As A.I. emerges, does it change how professionals create financial peace of mind in their communities?

Pre-budget consultations are now underway for this fall’s Federal Budget and Canadians are invited to share their views with Finance Minister Francois-Philippe Champagne through an online survey. Over the next several weeks, the Finance Minister and his team will meet with various stakeholder groups and review public submissions before finalizing the budget.

The Canada Revenue Agency is getting a new boss. Prime Minister Mark Carney has appointed Heather Evans, LLB, LLM as the new head of the agency. She moves from her post as executive director of the independent Canadian Tax Foundation, a job she’s held since 2016. She takes over from Jean-Francois Fortin who has been serving as acting commissioner since March 31. She, like our own Evelyn Jacks, is also recognized as one of the 44 Best Thought Leaders on Tax Strategy in Canada.  

Back to school time is just around the corner! For those who saved for future that includes post-secondary education, the tuition fees sting less when your high school graduate starts post-secondary school this fall. More can always be done, however to prepare families at the start of this journey. The benefits of the Registered Education Savings Plans (RESPs), and other savings opportunities, is a good financial planning topic this summer. Here’s a primer: