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.

Check It Out: New Fall Study Calendar

Check out our new calendar for your fall studies. Now is the time to enrol to study on your own time with online training or try and interactive Virtual Class Option. Act by September 15 to take advantage of early registration offers.

Bold Thinking: DAC Brings Keen Thought and Big Fun to Virtual Conferencing

The agenda is amazing and so is the innovative virtual fun factor at DAC Acuity 2020! You are in store for the outstanding educational experience DAC delegates have come to rely on, including the pre-approved CE Credits. But this will be the most memorable virtual conference you will have attended this year. Early registration ends September 15.  Here’s the cast and the program guide to this incredibly innovative event:

Virtual CE Summit on Pandemic Financial Fallout: September 30

The financial fallout of the Pandemic will manifest itself in several ways this fall: tax auditing for individuals receiving the CERB and EI payments, estimated Canada Child Benefits, OAS and other government benefits, tax audits for businesses receiving wage subsidies and GST/HST tax filing relief as well as personal and business bankruptcy. As important, financial distress relating to family health care is at the forefront of planning. Learn more at the next Virtual CE Summit on September 30!

Knowledge Bureau and Advocis Partner to Offer MFA-P™ Designation to Members

September 3, 2020. Knowledge Bureau, a pre-eminent national financial education institute and Advocis, The Financial Advisors Association of Canada, are pleased to announce their collaboration in offering specialized financial education to Advocis Members. The first program to be offered, effective September 3, 2020 is the MFA-P™ Designation.

Financial Fallout: Seven Strategies for Unemployed Clients

As Canadians face the prospect of higher spikes in COVID cases this fall, the financial fallout will be grim for millions who also face the loss of CERB and other safety nets that were available in the first wave of the pandemic. There are seven basic strategies advisors and clients can discuss now in anticipation of a 2020 tax year dominated by pandemic stress and a 2021 that may be characterized by more debt, and more tax audit potential:

Meeting of the Minds Discussion August 27, 11:30 EST: Wealth Preservation

Join some of Canada's leading Real Wealth Managers™ for a discussion about wealth preservation in these very uncertain times. It’s a  free virtual, national conversation that brings together advisors from the tax, bookkeeping, insurance, financial planning and legal communities to discuss true-to-life issues that require inter-advisory collaboration. Details below.
 
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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
    16%
  • No
    21 votes
    84%