Fall Federal Budget: Will Spending Be Cut?

Canada has historically presented an annual budget since Confederation in 1867, even through periods like World Wars and the Great Depression, but we have recently experienced the longest period without a full federal budget in our history. By the time the next one is brought down, expected in October 2025, it will have been 18 months since the controversial April 2024 budget which introduced the doomed capital gains inclusion rate hikes. What can we expect?

Even though proprietors and their spouses have until June 15 to file their returns before late filing penalties kick in, it makes sense to file by midnight April 30 with all other taxfilers to avoid interest charges if you have a balance due.

Many family businesses struggle to succeed to the next generation despite the unlimited amount of resources available today that can help. Be the help your clients need to beat the odds for succession success.

This week: Ten neat things about frankincense and myrhh

This simple yet powerful one-page calculator will help you demonstrate various tax scenarios to your clients to determine the greatest benefit regarding their incomes. Try it for free!

Over 5 million Canadians submit their taxes online. This book by Evelyn Jacks is a must-read for the DIY tax-filer. KBR readers get $5 off if they order before January 14.

Canadians should have their financial houses in order. While Canada’s financial system is strong, says the Bank of Canada (BofC) in its December Financial System Review (FSR), it is not immune from the “challenges” that threaten global stability.