November 2025 Poll
Do you believe the November 4 Federal Budget addressed the key financial issues your clients need to see from their Finance Department and the CRA?Underground Economy: Canada Has Second-Lowest Problem
The most recent statistics on the Underground Economy (UE) in Canada are from the year 2012, released in April 2015. The total underground activities were valued at $42.4 billion or about 2.3% of gross domestic product (GDP). A high of 2.7% was reported in 1994 and this fell to a low of 2.2% in 2000. However, after a brief uptick in the early 2000s the proportion remained relatively stable between 2.3% and 2.4%.
Understanding Indexing: How Does Indexing Work?
At this time of the year, tax advisors and their clients are familiarizing themselves with the indexing changes that have been applied to tax brackets, and refundable and non-refundable credits. Indexation is based on the consumer price index, but different formulas apply to different provisions.
Tax Treaties: Canada Has 92 of Them in Force
Tax treaties between nations serve an important purpose: They ensure that the taxpayer is not left in the lurch when multiple countries each want to tax the same income. Canada currently has 92 tax treaties in effect with other countries, to protect taxpayers from over-taxation. Most recently, on January 15, Canada and Taipei signed an Arrangement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, based on standards developed by the OECD for the exchange of tax information.
Life Purpose
“We can’t solve problems by using the same kind of thinking we used when we created them.” - Albert Einstein
Search for 2016 Distinguished Advisor Conference (DAC) Young Advisors Award Winners Begins Now
Keeley Simpson of Rorabeck Wealth Advisory Group, BMO Nesbitt Burns, and Brandon Silbermann, a financial advisor at Manulife Securities Investment Services Inc and Don Stockman Financial Services Ltd, were awarded prestigious plaques in commemoration of their selection as the two inaugural winners of the Distinguished Advisor Conference (DAC) Young Advisors Award.
Missed the DAW? Three Ways to Catch Up
Knowledge Bureau has just wrapped up another successful Distinguished Advisor Workshop (DAW) tour, the annual Advanced Personal Tax Update. If you were unable to attend, Knowledge Bureau has a few options for you to update, train staff and get your CE Credits.
