News Room

Finance Canada: No More Spring Budgets

Finance Canada announced on October 7 that Canada’s federal budgets will be brought down in the fall starting with the November 4, 2025 event; a significant departure from the spring schedule (February, March or April) that has been the cycle for several decades. This is going to affect many other events as we know them, and in the annual government spending approval cycle. There will also be a new budget process for capital vs. operational expenses. Here’s what you need to know:

DAC Acuity 2022: Wealth Management – Strategic Philanthropy

FIRESIDE CHAT: DOING GOOD You’ve likely heard about social financing: the collaborative investment of public, private and philanthropic funds to re-image our economic structure to build a “Social Infrastructure Network”. At it’s core – doing good is the big idea.

GAAR Changes:  Will You Meet September 30 Consultation Deadline?

An important discussion is taking place in Canada and tax professionals will not want to miss their chance to weigh in by the September 30 consultation deadline.  Specifically, the federal government wishes to “modernize” the GAAR – General Anti Avoidance Rules - after a series of 24 losses in court.  Here are the issues:

Three New Government Benefit Programs Start in 2022

The Federal government announced three new refundable benefit programs on September 13, which will put extra money in the pockets of individuals and families. 

Deadline: Sept 25 – End of Temporary EI Benefits

During the pandemic, the federal government put temporary changes to the Employment Insurance (EI) program in place.  These special programs will end on September 25, 2022.  Employers will want to refresh their memories both on the pandemic response rules, and now, the return to normal for the purposes of informing management and/or payroll departments who may receive questions from departing employees: 

The TFSA is About to Get Better

There may be one silver lining to all this inflation…the Tax-Free Savings Account (TFSA), arguably the best savings vehicle available to Canadians, is about to get even better.

Hedge Inflation Erosion With These Tax Tips

There are four important strategies to maximize income with tax efficiency during both inflationary and potential recessionary headwinds.  Consider introducing them to your clients as part of your fall tax filing strategies:
 
 
 
Knowledge Bureau Poll Question

Do you believe SimpleFile, CRA’s newly revamped automated tax system, will help more Canadians access tax benefits and comply with the tax system?

  • Yes
    4 votes
    10.53%
  • No
    34 votes
    89.47%