News Room

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:

CRA Security Breaches: Taxpayers Must Be Able To Rely On Privacy

Canada has a taxation system that is based on self-assessment. We are required to accurately assess income, deductions and credits, filing our tax returns on time, or face penalties, interest and/or jail in serious instances.

TD1’s: 2015 Family Take Home Pay Drops

New Income Tax Estimator Can Help Last week CRA issued the 2015 TD1 Personal Tax Credit Return and the corresponding provincial forms.

A stocking stuffer that adds up! Win a $100 Knowledge Bureau Gift Certificate

This Week: It’s a Tax Question: Win A $100 Gift Certificate Be one of 10 recipients of a $100 gift certificate towards any Knowledge Bureau online course. Hurry – this is the last chance to win until the new year. You can only win once - so be the first one to answer this question correctly. Here’s the question: What is the net income amount at which the Old Age Security received by a senior is completely clawed back for 2014?

Thumbs Down: Few Pros Think Families Will Save Tax Cut Dollars

Knowledge Bureau’s November Poll Question attracted close to 200 respondents to the question: Do You Think the New Family Tax Cut Provisions will Help Canadian Families Save and Invest More for the Future?

Knowledge Bureau Designate Highlight: Patricia Bailey

Grow your business with the DFA - Tax Services Specialist™ Designation. Join Knowledge Bureau in congratulating Patricia Bailey in achieving her DFA - Tax Services Specialist™ Designation. Patricia Bailey DFA - Tax Services Specialist™. "My clients are more confident in the work I do for them because of this designation" Patricia is located in Milton, Ontario. Her company is approximately 3 years old with a growing client base. “Achieving this designation has equipped me with the knowledge needed to grow and succeed.”