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.
It is a time of great opportunity to test our collective financial resilience, and financial advisors on the front lines of financial wellness will be better prepared to do so with the keen insights and bold thinking of 21 expert speakers at the 17th Annual Distinguished Advisor Conference (DAC) presented by Knowledge Bureau, October 28-30.
Knowledge Bureau has made it easier for you to register virtually, 24/7 in online courses and to calculate the tuition fee schedule that is right for your budget. Check out the new online instalment payment calculator and the brand-new Virtual Registrar. It’s the perfect way for night owls and weekend warriors to get started!
When the new Canada Recovery Benefits become available later this month, it will come with a cost. If the recipient’s net income for the year from other sources exceeds $38,000, they will be required to repay 50% of the lesser of the CRB received and their net income in excess of $38,000.
The true financial test on how well Canadians will weather the financial storm brought on by the pandemic will occur in the months to come. A glimpse into that future is well described in a June 2020 report from the Bank of Canada. It suggests three catalysts, working together, that can lead to successful financial recovery:
Should you buy a new car before year end to reduce your 2020 taxes? It’s a good question especially because lucrative new tax rules were put into place for the write-off of most capital assets* on November 21, 2018. Taxpayers can in fact, triple up on the usual first-year tax deductions when they acquire assets in the period between November 20, 2018, and December 31, 2023, and put them into use before 2028.
It is a time of great opportunity to test our collective financial resilience, and financial advisors on the front lines of financial wellness will be better prepared to do so with the keen insights and bold thinking of 21 expert speakers at the 17th Annual Distinguished Advisor Conference (DAC) presented by Knowledge Bureau, October 28-30.
Knowledge Bureau has made it easier for you to register virtually, 24/7 in online courses and to calculate the tuition fee schedule that is right for your budget. Check out the new online instalment payment calculator and the brand-new Virtual Registrar. It’s the perfect way for night owls and weekend warriors to get started!
When the new Canada Recovery Benefits become available later this month, it will come with a cost. If the recipient’s net income for the year from other sources exceeds $38,000, they will be required to repay 50% of the lesser of the CRB received and their net income in excess of $38,000.
Financial and insurance advisors, lawyers, accountants, bookkeepers, tax practitioners and gift planners…
The true financial test on how well Canadians will weather the financial storm brought on by the pandemic will occur in the months to come. A glimpse into that future is well described in a June 2020 report from the Bank of Canada. It suggests three catalysts, working together, that can lead to successful financial recovery:
Should you buy a new car before year end to reduce your 2020 taxes? It’s a good question especially because lucrative new tax rules were put into place for the write-off of most capital assets* on November 21, 2018. Taxpayers can in fact, triple up on the usual first-year tax deductions when they acquire assets in the period between November 20, 2018, and December 31, 2023, and put them into use before 2028.
