Should the Canada Employment Credit Reflect the True Cost of Going to Work?

With the rising cost of transportation, meals, clothing, and other work-related expenses, many Canadians are questioning whether the Canada Employment Credit, set at $1,501 for 2026, still reflects the real cost of earning employment income. Tax professionals, employers, and taxpayers continue to debate whether the credit should be increased, restructured, or replaced altogether. When our poll asked if the Canada Employment Credit should be increased, 87% said yes. Below are perspectives shared by tax and financial professionals across the country.

Act by Dec 15 -  Grow Your Practice Focused on Collaborative, Financial Leadership

Do you want to be part of a transformative change in the financial services industry in 2024!  Make a difference while you differentiate with new credentials and a collaborative approach to leadership in building your practice and a natural referral network, too, with the Real Wealth Management™ Designation Program. The RWM™ approaches conversations with clients on a deeper level while following a compliant framework that goes beyond KYC and KYP – all to enable greater financial piece of mind. Now until December 15 you can save $200 on tuition!

Tuition Tax Assistance from CRA: T2202’s Now Available

Did you know that Knowledge Bureau is a private, educational institution certified by Employment and Social Development Canada (ESDC) to provide courses that develop or improve skills for those working in the tax, bookkeeping, accounting, and financial services industries? What this also means is that Knowledge Bureau students who have paid 2023 tuition fees in excess of $100 qualify for the tuition fee amount, and the T2202 tax slips to claim this are now available in your Virtual Campus. Here’s how to claim them:

Prepare for Tax Season 2024 with the CE Savvy™ Tax Audit Defence Strategies Collection

Things are changing quickly in the tax world and we have a great way to stay on top the critical changes to tax planning and new burdens of proof with the new CE Savvy™ Collection – Tax Audit Defence Strategies.  You can earn 5, 15, or 30 CE Credits before year end, too. Here’s why professional advisors cannot miss this opportunity to come up to speed with the complex rules from the March 28, 2023 budget, the August 4, 2023 Draft Legislation and more in preparation for the upcoming tax season.

2024 Advanced Personal Tax Update

All the updated knowledge and resources a professional personal tax specialist needs plus expert instruction is what the Knowledge Bureau’s Advanced T1 Tax Update is about,  and it’s coming your way in one of three delivery choices:  a national virtual event on January 17, 2024 or two in-person events:  January 24 at the Pearson Convention Centre in Toronto or January 26 at the Sandman Airport Hotel in Calgary.  Registration is required by December 15 for receipt of all five components of this comprehensive experience including a hard copy desk top reference and Evergreen Explanatory Notes, which you’ll cherish throughout tax season:

UHT Filing Deadline Extension: A Good Move?

The Underused Housing Tax has been making headlines, most recently with the last-minute decision on October 31 to extend the filing deadline to April 30, 2024. It’s a move that 85% of tax and financial advisors said they agreed with in responding to our November poll question. However, it’s a nuanced issue that was addressed in many insightful comments. Check them out!

Last Chance: Black Friday Certificate Course Sale!

Last chance to choose your own adventure on your pathway to new specialized credentials with our Black Friday Certificate Course sale that ends today! Selected Certificate Course Tuition fees only $195 - $595 with code NOV2023.
 
{newsroom_ad} {/newsroom_ad}
 
Knowledge Bureau Poll Question

The automobile deduction limits raised — the CCA ceiling for passenger vehicles to $39,000 plus tax for 2026. In your opinion, is that high enough?

  • Yes
    4 votes
    18.18%
  • No
    18 votes
    81.82%