When CRA officially opened the electronic floodgates on tax filing season on February 23 this year, it was with a number of pieces of news. Did you know, for example, that the GST/HST Credit has now been officially renamed the Canada Groceries and Essentials Benefit (CGEB)? You get it by filing a tax return and interacting with CRA’s new digital services, which unfortunately still refer to the old name – the GST/HST Credit. It’s just one of those “game changers” that make Real Tax News with Evelyn Jacks and Friends, starting this week for its second season, so valuable to Canadians.
Small business forms the backbone of the Canadian economy, yet only a minority of businesses successfully pass to new owners. Sophisticated strategies are needed to ensure greater success in the transition of business ownership.
A tax-efficient payroll is one that ensures employees pay only the correct amount of tax and no more with every paycheque. Bookkeepers and payroll departments that offer employees the opportunity to integrate tax efficiencies provide a valuable service that can lead not only to higher take-home pay, but higher family savings rates, too.
On March 22, Federal Finance Minister Bill Morneau released the highly anticipated federal budget. And in response, Knowledge Bureau has already updated its latest version of the T1 Professional Tax Preparation – Basic course.
Canadians are living longer, and while health may be one of the issues matured Canadians focus on in their golden years, carrying debt into retirement and the possibility of filing for bankruptcy is becoming more of a concern.
Knowledge Bureau will be on the ground in Ottawa next week, delivering all the information you need after Finance Minister Bill Morneau unveils the Liberals’ first federal budget since taking office last fall.