Late Filing Penalties: Talk About It!
While most T1 returns are in the hands of the Canada Revenue Agency (CRA) by April 30, we know many are not. In fact, millions of returns were still outstanding as of mid-May. Late-filing clients they need to know about the consequences, especially if they owe. Here’s a rundown to be aware of:CE Master Micro-Credentials: Learning That Works as Hard as You Do
In a profession where knowledge quickly evolves and client needs never stop, financial advisors need education that is practical, flexible, and credible. That’s exactly what CE Master Micro-Credentials deliver.
Tax Shock Adds to Family Heartbreak
Last month the sad story of an Ontario family who suddenly lost both parents in 2024 was shared in Burlington Today. The tax outcomes were just as shocking as the two deaths from unrelated causes. There was a cottage, a large RRSP and a big tax bill. Some of the outcomes could have been mitigated with some planning. I sat down with CTV’s Pat Foran to discuss the outcomes – with a message important to family planning.
Year End Planning and the 14% Solution
Arthur Godrey once said: “I’m proud to pay taxes but I could be just as proud for half the amount.” Well, it wasn’t quite that generous but, effective July 1, Canadians did get a tax cut. The problem is, it will also reduce the value of Canadians’ non-refundable tax credits. This needs to be taken into account in year end planning.
Poll: Readers Have Doubts About CRA’s 100-Day Plan
On September 2, Finance Minister François-Philippe Champagne mandated the Canada Revenue Agency (CRA) to implement a 100-day plan to “strengthen services, improve access, and reduce delays.” The deadline for delivery is December 11, 2025. But do Knowledge Bureau Report readers believe this approach will work? Clearly, readers are skeptical, as 77% voted “no”. Many expressed frustrations with CRA’s performance and questioned whether such a short timeline could address deep, systemic issues. See what they have to say below!
Federal Budget November 4 – Stay Ahead with CE Summit Coverage
Big news from Ottawa: the federal government has announced that the next Federal Budget will be tabled on November 4. For professionals in tax, accounting, and financial services, this is a critical moment to understand what’s changing and how to respond before year-end.
Mark Your Professional Training Calendar
If you are a tax or financial advisor, Knowledge Bureau is offering numerous opportunities throughout 2025-2026 for you to shore up tax knowledge and important CE accreditation for licensing for KB Designations, Professional Designations in the accounting sector as well as CIRO, MDSA, AIC and Insurance Councils. Mark your calendar for the live/virtual event milestones below and see the links for online program options as well.
