New: Personal Support Workers Tax Credit Coming Soon

Personal support workers will receive billions in increased wages from federal/provincial governments in B.C., Newfoundland and Labrador and the Northwest Territories.  Those workers in other provinces will now get a raise too, but they will have to wait until filing their 2026 returns in the spring of 2027 to cash in, according to an October 27 pre-budget announcement.  Here are the details:

The changes to the CPP agreed upon this week by eight of Canada’s Finance Ministers (Quebec and Manitoba have not yet agreed), will help Canadians contemplate how much is enough for their retirement. To answer this question, it is important to first reflect on longevity statistics in Canada and, second, on the amount of money required for adequate income in retirement.

We love sharing feedback from our recent graduates. This week we feature the success of Mrs. Delores Moskal from Yorkton, Saskatchewan, who recently graduated from the Business Valuation for Advisors course.

Knowledge Bureau is pleased to announce that Craig Dowden, the top-rated speaker at DAC 2015, will speak at this year’s Distinguished Advisor Conference, Nov. 6-9 in San Diego. Early registration is now open until June 30. An outstanding agenda of 18 illustrious speakers has now been released.

The quest for highly qualified, professional bookkeepers with sharp tax knowledge and financial stewardship skills is an important one, yet they are hard to find.  Knowledge Bureau’s professional certification and designation programs fill that gap and add value to tax, bookkeeping and financial services offices.

"It is neither wealth nor splendor; but tranquility and occupation which give you happiness." Thomas Jefferson

Whenever possible, avoid adding a large lump sum to your taxable income in one tax year.  This can be especially problematic when a severance package or termination payment on retirement is received.