Bill C-31: Royal Asset and New CRA Powers Could Come Soon
Changes are coming to the Income Tax Act and both you and your clients will all be affected with new tax risks including longer tax audits. Bill C-31, which passed second reading in the House of Commons on June 3 and is now at committee stage, contains elements of previous Federal Budgets that will expand the CRA’s compliance and enforcement powers. Here’s what you need to know and pass along to your clients:CE Summits - Advanced Personal Income Tax Update
There is still time to register for Winter 2018 CE Summits, Canada’s most comprehensive Advanced Personal Income Tax Update for tax and financial professionals and their new and returning staff. Please remember that Regular Fees apply after deadlines!
Professional Online Training Available Now
Busy tax and financial professionals who are looking to train and hire graduates from Canada’s most comprehensive and convenient professional certification program may enroll now, 24/7.
People in the News: Benitta Anselm Nerio
We’d like to say congratulations to Benitta Anselm Nerio on the completion of Knowledge Bureau’s T1 Professional Tax Preparation – Intermediate course. Here’s what she had to say about her experience:
Warmest Wishes to You and Yours this Holiday Season!
At this special time of the year, we like to pause to think about all we are grateful for, and that’s first and foremost our treasured relationship with you. Thank you for your commitment, your friendship and support.
New! Check out the Official 2017 T1 and 2018 Income Tax Estimator
Knowledge Bureau is pleased to release two important tools to assist taxpayers and their advisors with authoritative tax information that’s fast and accurate: the 2018 Income Tax Estimator in the Knowledge Bureau Toolkit, and the new T1 Return, which appears in EverGreen Explanatory Notes.
Anything But Simple: Morneau’s Income Sprinkling Rules Start January 1
It’s official, family income sprinkling rules will take effect January 1, 2018, and, unless a family member can show active participation under still-complicated reasonableness tests, distributions of income from private family businesses will be taxed at top tax rates, with none of the progressivity in tax rates available to individuals. This will require an immediate rethinking of resources available to the economic unit known as the family business.
