New: Personal Support Workers Tax Credit Coming Soon

Personal support workers will receive billions in increased wages from federal/provincial governments in B.C., Newfoundland and Labrador and the Northwest Territories.  Those workers in other provinces will now get a raise too, but they will have to wait until filing their 2026 returns in the spring of 2027 to cash in, according to an October 27 pre-budget announcement.  Here are the details:

Now’s the time to start building your arsenal for next tax season! The new KB Tax Tip Toolkit gives you fast answers to your tax questions and you’ll earn up to 30 CE credits using it, too! Receive three great solutions at one great price: professional tax research library, powerful tax planning calculators, and CE accreditation, register by May 15.

Become a world-class leader in financial education with turn-key learning solutions from Knowledge Bureau! Creating a learning culture is the #1 driver of great work culture and it’s great for business too, introduce our new micro-course collections to the professional development program at your firm: your team can grab an hour and be CE Savvy™ while meeting CE requirements.

Tax-Free First Home Savings Account (FHSA) is the newest in a series of tax-advantaged savings accounts critical to the building of wealth, and it’s already a month old!  The FHSA is a useful tool, not just for future homeowners but potentially for senior renters, business owners and others with limited RRSP room.  Here is a checklist of rules investors will want to discuss with their advisors.

The prescribed interest rate on overdue taxes is 9% for the second quarter. Will taxpayers now pay off tax debt sooner? Not according to 80% of tax and financial advisors who responded to our April poll. The pros say there are other factors to consider, including paying off other higher interest rate debt and they highlight that increases are only punitive when most taxpayers would pay off their CRA debt if they had the means to. Here are their comments:

It’s officially the beginning of tax season 2024, and there are some important dates to note to sharpen your skills and prepare to help your clients improve their financial lives. Mark your calendar!

Last year was quite possibly the worst year in decades to retire and start drawing retirement income and so far in 2023, the foreseeable future is fraught with uncertainty.  For these reasons we asked CE Summit keynote speaker and best-selling author Doug Nelson, B.Comm., CFP, CLU, CIM, RWM™ to share his inspiration in preparing his sessions for the upcoming May 24 CE Summits Workshop and expand upon the kind of retirement planning advice that’s right for today’s difficult environment. He was passionate in his response and provides a sneak peek at what you will learn.