Fuel Excise Tax on Hold But Inflation is Not
The U.S.-Israel war on Iran has thrown global oil prices into turmoil and there is plenty of fallout for consumers. Travelling to Europe this summer? That’s in jeopardy, as jet fuel may run out. Looking for relief at the pumps instead? The recently announced suspended federal excise tax on gasoline, unleaded aviation gasoline, diesel fuel and aviation fuel here in Canada will soften the blow, but only temporarily: it will be zero from April 20 to September 7, 2026. Here’s what you need to know:Permanent Increase in OAS Takes Effect in July
Seniors over the age of 74 will have been delighted by the raise they received in their Old Age Security Benefits in July of 2022. The specifics of the new permanent increase, its effect on the clawback of OAS and other new details follow:
Shortage of Skilled Labour a Big Issue for Business
Statistics Canada is reporting that a shortage of labor continues to be a significant issue for 35% of businesses in Canada, while skilled labor shortages are an obstacle for close to 28%. Those who responded to Knowledge Bureau’s July Poll agreed: 91.67% said yes, their clients are finding it more difficult to hire skilled people in 2022.
DAC Acuity 2022: Ethical Dilemmas, Breaking Down the Duties of Care
Can ethical behaviour be regulated? Can we eliminate all of the “Bad Apples’ with regulation or does it take more? Is it possible that ethical behaviour is a byproduct of a “culture of care”? In other words, when it comes from the heart, is ethical behaviour a standard on its own? Organizations must be sure and so, they must back up a culture of care with strategy and processes to ensure consistency. CEO of CANFIN, Tony Mahabir who will share his inspiring insights on how to accomplish this against the backdrop of increasingly complex and expensive regulation.
Learn Professional Basic Tax Preparation
It’s not too late to learn to prepare personal income tax returns from your home or office and now you can confidently learn and practice with Knowledge Bureau’s newly released Professional Entry level course.
How to Reduce Borrowing Costs With Tax Efficiency
After years of historically low interest rates, lending rates have risen dramatically since March 2022 with prime rates rising 2.25% in just over 4 months. Many clients are now becoming more concerned about the impact rising rates will have on their cash flow and looking for ways to reduce their borrowing costs. One way is to be sure tax deductions for interest costs are maximized. Here’s how:
Back to University: Who Claims Tuition Fees
University bound? It’s an exciting time of life for both young adults and their parents, both of whom may be able to write off some of those expensive tuition fees. What else is new is your tax filing status. A Tax Services Specialist can help answer your questions and a handy guide to the rules follows:
