Knowledge Bureau Report


Final CEBA Deadline Fast Approaching

By : Evelyn Jacks Posted in: Strategic Thinking, Current Issue
Did you or your clients qualify for the $40,000 Canada Emergency Business Account (CEBA) loan?  If so, another $20,000 loan is available and up to half of this is forgivable if repaid by December 31, 2022. But the deadline for applying is this month on March 31, 2021.  Here’s what you need to know.

CRA Departure:  Elections Require Hard Copy

Posted in: Strategic Thinking, Current Issue
Most people would rather have teeth removed than face a tax audit. But, just what has to be kept for back-up purposes in a digital relationship with the CRA?   It’s an important question because CRA generally doesn’t want to see any receipts when the return is filed. Yet, certain tax documents are required to be filed in writing and that includes special elections. Do you know what they are?

Tax Evasion Deterrent: Jail and Penalties

Posted in: Strategic Thinking, Current Issue
It’s not unusual for the CRA to distribute information about tax evasion at the start of the tax season; after all it’s a great reminder of the stiff consequences for those who intentionally defraud the government, like a West Vancouver resident recently did.   

The Pros Weigh In: Are Canadians Focusing on Retirement Savings?

By : Beth Graddon Posted in: Strategic Thinking, Current Issue
In your opinion, do Canadians feel they have to revise their retirement savings plans as a result of the pandemic?  Last month, advisors from across Canada weighed in on this question and the results may surprise you!

Fill Your Knowledge Gaps: Women and Finance

Posted in: Strategic Thinking, Current Issue
March 8 is International Women’s Day and one of the many things to celebrate is that women are becoming far more financially active.  This is a positive trend which enables better conversations about tax, retirement and estate planning, But advisors who fail to engage women, may well find themselves failing.

It’s Your Lucky Month if You’re Still Training Tax Staff!

Posted in: Strategic Thinking, Current Issue
Is March your lucky month? Traditionally, leprechauns celebrate pots of gold at the end of rainbows this month.  But, it was Buddha who really put the concept of luck into perspective,  “Being deeply learned and skilled, being well trained and using well spoken words: this is good luck.”  That strategy has better odds of success, too. That’s why we are offering you some of each: the opportunity to be more skilled and a bit of the pot of gold.