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.
The difference between good and bad debt often lies in its tax deductibility. Those who leverage their assets as part of their strategic plan to build wealth will often do so more successfully by earning more income and increasing their net worth. However, should you borrow to invest? Claiming tax-deductible interest is often the only consolation for the eroding effect that the costs of debt can have on personal wealth. Here’s what you need to know this tax season:
Okay, we admit, it’s a stretch, but we wanted to hop into the spirit, and surprise you, our Knowledge Bureau Report readers, with a tuition treat to celebrate the long weekend!
The government has recently appointed a new Task Force on Women in the Economy. However, what’s missing among the 18 educated and highly qualified women on the board* is representation from the many women who, through self-employment and independent business ownership, contribute so much to growth in our economy. That’s a big miss. Here is why that is important:
With the dramatic increase in digital solutions, and the challenges presented by the pandemic, more of your clients may require more frequent communications, improved collaboration between their financial professionals and more efficient processes in building wealth with all family stakeholders. In a highly complex tax and investment environment, differentiate yourself as a Real Wealth Manager™. Your new high value professional skills will help you connect the dots, and when you do, a bonus: you’ll receive an invitation to join in on some important peer-to-peer networking opportunities coming up this spring – exclusively for Real Wealth Managers™.
It’s April 1st next week, and that means a number of rates for the second quarter to reflect inflation calculations. This includes prescribed interest rates that affect how much you will receive on interest on refunds owed to you by CRA and pay on CRA overdue balances due from you. Will seniors get a raise on their OAS payments? What will be the prescribed interest charge on shareholder loan accounts? Here are the details:
It’s not too late to learn to prepare personal income tax returns from your home or office and now you can confidently learn and practice doing 2020 tax returns with Knowledge Bureau’s newly released 2021 Professional Basic Tax Course.
The difference between good and bad debt often lies in its tax deductibility. Those who leverage their assets as part of their strategic plan to build wealth will often do so more successfully by earning more income and increasing their net worth. However, should you borrow to invest? Claiming tax-deductible interest is often the only consolation for the eroding effect that the costs of debt can have on personal wealth. Here’s what you need to know this tax season:
Okay, we admit, it’s a stretch, but we wanted to hop into the spirit, and surprise you, our Knowledge Bureau Report readers, with a tuition treat to celebrate the long weekend!
The government has recently appointed a new Task Force on Women in the Economy. However, what’s missing among the 18 educated and highly qualified women on the board* is representation from the many women who, through self-employment and independent business ownership, contribute so much to growth in our economy. That’s a big miss. Here is why that is important:
With the dramatic increase in digital solutions, and the challenges presented by the pandemic, more of your clients may require more frequent communications, improved collaboration between their financial professionals and more efficient processes in building wealth with all family stakeholders. In a highly complex tax and investment environment, differentiate yourself as a Real Wealth Manager™. Your new high value professional skills will help you connect the dots, and when you do, a bonus: you’ll receive an invitation to join in on some important peer-to-peer networking opportunities coming up this spring – exclusively for Real Wealth Managers™.
It’s April 1st next week, and that means a number of rates for the second quarter to reflect inflation calculations. This includes prescribed interest rates that affect how much you will receive on interest on refunds owed to you by CRA and pay on CRA overdue balances due from you. Will seniors get a raise on their OAS payments? What will be the prescribed interest charge on shareholder loan accounts? Here are the details:
It’s not too late to learn to prepare personal income tax returns from your home or office and now you can confidently learn and practice doing 2020 tax returns with Knowledge Bureau’s newly released 2021 Professional Basic Tax Course.
