June 30 Tax Deadline is Looming for Non-Residents
An important deadline is approaching for non-residents with certain Canadian-source income. June 30 is the deadline to file elected returns under Section 216 (pertaining to rental income) and Section 217 (pertaining to Canadian source pension income). There may be significant consequences for missing this deadline as returns received after this date, generally aren’t accepted. Here’s what you need to know:Claiming Office Expenses: Proprietorship vs Employed Tax Guidelines
With the April 30 deadline for individuals now a thing of the past, it’s time to focus on getting those proprietorship returns filed! The deadline to avoid late filing penalties is Monday, June 17 this year, but it’s a good idea to get those returns in sooner. Here’s why:
Check it Out: Knowledge Bureau Has a New Website!
We’re excited to announce that Knowledge Bureau’s website has a new look and feel. It’s designed to help you better discover your educational pathway as an individual student, or as a business looking for corporate solutions. Here’s an outline of what’s new and what’s changed. Visit today and check it out!
Why Should You Attend the Vantage Breakfast Series?
Join us on Thursday, May 9, 2019 from 7:30-9:00 a.m. for the inaugural event in the Vantage Breakfast Series taking place in Toronto, Ontario. Hear four outstanding speakers and earn CE Credits, too . Here’s why IIAC and Knowledge Bureau have collaborated to bring this series to you:
Evolving Professional Advice: Women to Control Billions by 2028
The financial influence of women in the Canadian economy is on the rise and professional tax and financial advisors need to pay attention to better understand how to best help, in the massive accumulation of wealth taking place, according to a March 2019 report by CIBC Capital Markets *.
Special Report: Last Minute Tax Tips
This week’s Knowledge Bureau Report is dedicated to those often-missed and often-audited discretionary deductions and credits that both professionals and taxpayers will want to ensure they’re maximizing on to improve the size of tax refunds and/or reduce family tax bills.
Lucrative Tax Breaks for Families with Children
An often under-claimed and misunderstood tax deduction is the claim for babysitting or child care expenses. Make the claim on auxiliary tax form T778 and generally you will do so on the return of the spouse with the lowest net income. However, there are cases where the higher earner can make the claim. Here are the rules:
