August 2025 Poll
A public consultation on whether the CDIC’s deposit insurance limit should be raised to $150,000 per deposit category is underway. Do you agree?Executor: Tips When Preparing to File Final Returns
Have you agreed to be an executor for a loved one? I just know you want to be ready and informed about what to do when the time comes. When it is time to ‘be’ the executor, you could very well be feeling the emotions of your loss. For that reason, amongst others, the time to check into what is involved is NOW!
Registered Canadian Amateur Athletic Associations
The recently concluded Olympics were a thrill and a testament to the resilience of our athletes. Their commitment has financial consequences, however. This is because athletes must maintain amateur status to compete. For these reasons, trusts for amateur athletes allow for the deferral of qualifying income for up to eight years. There are a number of tax consequences to be aware of, however, for the athletes and the amateur associations that promote the sports.
The Power of Assumption: A Tax Context
The Canada Revenue Agency (“CRA”) is a body corporate that, inter alia, carries out the duties and functions of the Minister of National Revenue (“Minister”). The CRA routinely audits Canadian taxpayers in order to ensure compliance with various taxation legislation, including the Income Tax Act and the Excise Tax Act.
Audit Defence at the September 23 CE Summits
Join Knowledge Bureau President Evelyn Jacks, and guest speakers for a full professional training experience at the next Virtual CE Summit on September 23, 2021. Everything is included, even the food, when you RSVP by August 23!
Government Extends CRB and Other Pandemic Benefits
The federal government has extended pandemic support benefits, in the midst of a reopening of the economy; many believe in advance of a federal election announcement expected soon. However, the benefits have significant changes in them. This report provides an overview of the CRB, the Canada Recovery Benefit changes.
New CERB Reimbursement Form Introduced
In an unfortunate series of miscommunications, self-employed people were given inaccurate information about eligibility requirements for claiming CERB in 2020. Under heavy warnings to repay the benefits they may have received, many reached into their pre-Christmas cash flow to do just that. Now with new Form T183E, the money can be recovered again. Application processing began June 15 and applicants can expect reimbursement within 90 days.
