August 2025 Poll
A public consultation on whether the CDIC’s deposit insurance limit should be raised to $150,000 per deposit category is underway. Do you agree?Increasing Insolvencies: CERB Tax Debt to Blame?
A new study reports that Millennials have been dealt a raw hand recent economic changes, that have landed them under water with high student loan debt, credit card debt, demand loan debt and the CERB repayment, which has pushed many over the edge into insolvency.
New Conjugal Harmony: Divorce Rate Drops in Canada
The divorce rate has dropped by one third in Canada since 2016, in a surprising statistical table published by Statistics Canada this week. This is contrary to the reports by some divorce lawyers who saw a spike in inquiries during the pandemic. Was this new family harmony an anomaly or was there a pandemic blip in the numbers?
Bill C-47 – March 28, 2023 Budget Off to Senate
Bill C-47, which was tabled on April 20, 2023 to enact certain provisions of the March 28, 2023 federal budget passed through the House of Commons on June 8, 2023, and is now off to the Senate. With swift passage there, provisions such as the Grocery Rebate could be initiated for anticipated payment by July 5. However, there are other very important provisions in the 430-page document – sign up to receive Knowledge Bureau Report in your inbox to receive our detailed budget report for more information!
Fewer Givers: New Trends in Charitable Giving
An interesting trend has emerged in giving has emerged over the pandemic years. In a new report released by Statistics Canada on March 14, 2023 there was a 3% drop in donors claiming donation tax credits in the 2021 tax filing year. Are Canadians less charitable these days? Or is something else going on?
The Opportunities are Hot in Tax and Financial Services
It’s hot times in the tax and financial services industries, as the upward trend in both wages and job opportunities that started last year continue to increase, according to Statistics Canada. If you’re looking for new team members to scale up your business, you might be surprised to find how much you could have to pay to secure talent, and which sectors will have the hardest time landing them.
FHSA Transfers
The last couple of weeks, we’ve been featuring the details of a brand new account – the First Home Savings Account (FHSA). This week we’re focusing on transfer opportunities with the FHSA, which is especially relevant to those working with millennial clients looking to buy their first homes. What order should the FHSA, TFSA and RRSP be funded as part of a strategic savings plan? For some the choice will be evident, for others this is a great leveraging opportunity and as an advisor, this is an opportunity to be prepared with the answers.
