Truckers Beware: CRA Audits Coming

Effective December 4, 2025, the CRA has officially lifted the moratorium it has extended in the transportation industry and intends on levying penalties for failure to report fees paid for services for the 2025 tax year and subsequent tax years.  Here’s what you need to know:

Attendees of the 2015 Distinguished Advisor Conference will have the opportunity to claim up to 15 CE credit hours from the following regulators:

Year-end tax planning, owner manager compensation, business transition planning and more were covered over the last few days at the fall Distinguished Advisor Workshop (DAW).

Knowledge Bureau’s Business Valuation for Advisors course will help an advisor become a valuable resource to their clients when considering business valuation issues.

How will the anticipated changes to the Family Tax Cuts under a new Liberal government look? We’ve crunched the numbers for you. The next Federal Budget and the 2016 indexing factors will confirm actual results; however, in reviewing estimates, we found a couple big winners: lower income families with children, and no income refundable tax credit filers with children.

Indexation of tax brackets and personal amounts for 2016 is determined by the average CPI numbers for the twelve months ending September 2015 (which were announced last week).

It appears unlikely that investors who have already maximized their TFSA contribution room to $10,000 in 2015 will be asked to remove the extra $4500, should the new government make good on their pledge to repeal the $10,000 maximum contribution in favor of a $5500 annual amount.