Pre-Budget Consultations Now Underway!

Pre-budget consultations are now underway for this fall’s Federal Budget and Canadians are invited to share their views with Finance Minister Francois-Philippe Champagne through an online survey. Over the next several weeks, the Finance Minister and his team will meet with various stakeholder groups and review public submissions before finalizing the budget.

Please join Evelyn Jacks and guest Faculty members for a virtual mini-summit February 26 for an in depth Tax School for tax and financial professionals. 

Subscribe to KBR to get our Real Tax News You Can Use Special Report! In This Edition: February 14, 2025 More Bad News on the Canada Carbon Rebate Anti-Flippers Beware: CRA Fines are Exorbitant What Residential Property Owners Need to be Audit-Proof

The GST holiday which  began in December comes to an end on February 15th and the fallout for consumers and businesses could linger for longer than the two month exemption itself.  Announced by the Prime Minister and then Finance Minister on November 21st, the end of the break will mean Canadians must once again pay more for common children’s items in particular.  Further, businesses will gain incur costs to reprogram point-of-sales and accounting systems. 

Canadian homeowners may not yet have caught up with the new rules around anti-flipping when they buy and sell their principal residences.  CRA has not only tightened the reporting rules, but now can deny the tax exempt treatment if the personal residence is not held for 365 consecutive days.  Some exceptions do apply.  So let’s take a look at the rules that should be discussed with all home owners and potential home owners:

Real Wealth Management is the accumulation, growth, preservation and transition of wealth after taxation, inflation and fees.  Seldom has an economic environment been more conducive to this approach with the threat of tariffs, significant tax change and numerous interest/inflation fluctuations.    Fortunately, tax season, which official begins for filing of T1s on February 24, can provide some cash flow relief.  Here are some things to consider.

Diane Colton, Business Services Specialist, FDFS™, Knowledge Bureau VIP graduate, designate, esteemed Fellow of Distinguished Financial Services and owner of Mobility Tax has been selected to receive the King Charles III Coronation Medal from the Governor General of Canada.