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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.

This Week’s Edition of KBR:

This Month’s Poll

Do you agree that public trustees, guardians and departments supporting Indigenous Services should be able to certify impairments for the Disability Tax Credit?

Yes: 15 votes

15.96%

No: 79 votes

84.04%

Cast Your Vote

Late Filing Penalties: Talk About It!

While most T1 returns are in the hands of the Canada Revenue Agency (CRA) by April 30, we know many are not. In fact, millions of returns were still outstanding as of mid-May. Late-filing clients they need to know about the consequences, especially if they owe. Here’s a rundown to be aware of:

File Taxes Before Benefit Loss

If you still have clients who have yet to file their 2025 income tax returns, they may be cheating themselves. There are benefits which are being left on the table and that’s money they could use.

Untangle the Tax Webs: Cross Border Issues

Does your client base include businesses looking to grow into the U.S. market? Perhaps you have clients looking to expand or retire into the U.S., snowbirds, people who want to make a permanent move south or who have multijurisdictional families?

Giving to Charity with Tax Benefits

Canadians continue to give to charity, but the landscape is changing. The percentage of tax filers donating to charity fell from 21.9% in 2013 to 16.8% in 2023, even as average annual donations held steady at $654. At the same time, studies show up to 50% of high-net-worth families expect to increase their giving in 2026, highlighting growing opportunities for strategic philanthropy, legacy planning, and tax-efficient charitable giving.

Mark Your Calendar: Critical Deadlines for May and June

Tax season never truly ends, it seems, as there are many more upcoming tax filing, investment planning and education milestones to discuss with your clients over the next six months. Check out our handy checklist below and then test yourself – what are the conversation openers you’ll use and with which clients? It’s your opportunity to shine with every member of the household:

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Knowledge Bureau News Network

Financial Issues & Answers for Everyone

This Week’s Edition of KBR:

This Month’s Poll

Do you agree that public trustees, guardians and departments supporting Indigenous Services should be able to certify impairments for the Disability Tax Credit?

Late Filing Penalties: Talk About It!

File Taxes Before Benefit Loss

Untangle the Tax Webs: Cross Border Issues

Giving to Charity with Tax Benefits

Mark Your Calendar: Critical Deadlines for May and June

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