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.
Keep up your credentials in 2020. If you are a Knowledge Bureau designate, be sure to update your status as per our Standards of Conduct, which require relicensing to use the designation marks at year-end. You should have received your re-licensing notice by now; if not please contact us before the holidays.
If you are a professional tax and financial advisor, it is your job to know all the personal tax nuances your clients will face as they discover a multiplicity of new tax form challenges in the tax filing season 2020. This year, register no later than January 10 for the CE Summits, which are expected to sell out in 6 cities: Winnipeg, Toronto, Ottawa, Calgary, Edmonton and Vancouver. But there is another important reason to come: multi-advisory business referral opportunities.
Are you tightening your belt on holiday spending. . .or will there be a lot more than a lump of coal in your Christmas stockings this year? There are few things worse than having bills come due without money in the bank to cover them. But, for far too many Canadians, it is a reality more often than we would like to admit. That’s why Advisorsavvy has put together a list of budgeting and debt management tips for us to share with you.
Soon, a new decade begins and Canadians face a number of financial challenges, including the growth of debt-to-disposable income levels. Plus for seniors, there is the prospect of diminishing pensions as they face stock market volatility. Against this backdrop is the opportunity for tax and financial advisors to provide care by sharing more of their tax and financial knowledge in 2020.
CRA will shut down EFILE Services for T1 transmissions on January 17, 2020 to convert their systems for the next filing season. Enrol to attend Canada’s most comprehensive 2019 T1 Tax Update, the Knowledge Bureau’s CE Summit 6-city tour, that starts January 16 so you can use this time to get everyone on your team well trained. It’s a must-do for professional tax, bookkeeping and financial advisors.
As long as there are businesses, there will be a need for bookkeepers. According to the Department of Employment and Social Development Canada (ESDC)*, the outlook for employment opportunities for Bookkeepers over the next three years looks promising for those looking to join the industry or continue in it, especially in the Maritimes, Quebec and Manitoba. Here are the top 10 reasons to consider a career in Bookkeeping: