Finance Canada: No More Spring Budgets

Finance Canada announced on October 7 that Canada’s federal budgets will be brought down in the fall starting with the November 4, 2025 event; a significant departure from the spring schedule (February, March or April) that has been the cycle for several decades. This is going to affect many other events as we know them, and in the annual government spending approval cycle. There will also be a new budget process for capital vs. operational expenses. Here’s what you need to know:

The May 15 enrolment deadline for the Virtual CE Summit taking place on May 20 is approaching fast. After this, the walk-up rate of $695 applies for all new and returning students.  That’s a good reason to act now! But here are 6 more reasons why Retirement, Estate Planning & Budget Updates this May will help you get better results and simplify your efforts with clients.

Need a boost to your spirits these days?  Try winning a sweepstakes (and we have a great one for you).  It turns out everyone likes to win (including monkeys…seriously!) and there’s plenty of science to back up why.

Linda Baldwin, DFA-Tax Services Specialist™ shares how Knowledge Bureau courses have helped her keep up to date on frequent tax changes she’s required to know to operate a successful tax business. Linda also tell us that a Knowledge Bureau education is a requirement for training any new staff she hires.

Tax season is far from over.  As of May 3, only 25.5 million tax returns had been received by CRA with over 30 million expected in total, including those from new filers who received the taxable CERB and CRB payments. So far it has been an overwhelmingly difficult tax season, according to professionals who answered our April poll: “In your view, has CRA’s service level to professional tax advisors improved this year?”. It was conclusive:  97% said no. Here were the challenges faced:

The $30 billion national day care initiative announced in the April 19, 2021 federal budget deserves a deeper dive, especially in conversation with your Millennial clients.  It is important, it will be expensive, but it may not be the right model for the times. The issue has already garnered some important debate that provides a 360 degree lens. There are lots of worries too, ranging from health and safety to financial affordability and tax deductibility. 

To scale a business means to grow it without a big increase in resources.  In fact, when your systems and procedures, technology, funding and staffing are all set up to build on the demand coming your way, the happy result is both top line and bottom line growth.  The difference, post-pandemic will be that to some degree, business owners are all starting a new business cycle again. What do we mean by that?