News Room

Opportunity: Canadian Dollar Stabilizes, Somewhat

Things have started to turn around for the Canadian dollar in the second quarter of 2025. It hit a 22 year low in January of 2025. Investors and property owners, who have been swooning at the high burn rate in their travel plans and property maintenance abroad, may wish to consider recent more positive trends and consider some risk mitigation opportunities now that the dollar is stabilizing somewhat.  

TAX TIP:  Make Charitable Giving a Multi-Stakeholder Event

Why don’t more taxpayers – and charities – know more about gifting securities in kind?  It’s an expeditious way to support your favorite charities during inflationary times.  Donations for the purposes of 2022 tax credits will be accepted until December 30, but it’s important to leave settlement time for the transfer or securities.

Tax Planning: Labour Mobility Deduction for Tradespeople

The April 2022 federal budget, introduced a Labour Mobility Deduction for skilled tradespeople and apprentices who need to temporarily relocate for work and it’s important to advise eligible taxpayers about this before year end so they can find receipts to back up the claims retroactively to January 1, 2022. 

Tax Tip: Leaving Canada? What’s Included in the Departure Tax

Canadians, who leaving the country become emigrants, and have to file a final tax return as of the date of emigration must report income for the period of residency and also, a deemed disposition of their taxable assets. This can generate capital gains or losses, which can generate a balance due or in some cases, additional refunds if losses are applied to prior year gains.  There are some exceptions explained below.

Is a DMA Accounting Services Specialist The Right Fit For You?

Do you enjoy solving problems, working with numbers and helping others? If so, enrol in a new designation program that will help you kickstart your career, earn more as a highly qualified practitioner and achieve your potential as a confident leader.  Become a Distinguished Master Advisor by taking the new DMA Accounting Services Specialist Designation Program. 

The Dark Horses – Find them at the Advanced T1 Tax Update

The Dark Horses are coming:  little known tax facts and tips ordinary advisors never tell their clients about.  It makes a big difference in the after-tax result!  December 15 is the beginning of the Early Registration Deadlines for the Advanced T1 Tax Update, featuring three training options in 2023:

Canada Dental Benefit: Now Open and Accepting Applications

Did you know that in Canada, a third of people do not have dental insurance to get the dental care they need?  Starting on December 1, eligible Canadians were allowed to apply for the Canada Dental Benefit. This is the first-ever federal dental-care program, but it comes with fine print and potential auditing if incorrectly applied for.  Here’s what you need to know to tap into the program, which allows for dental expenditures to be claimed back to October 1, 2022. 
 
 
 
Knowledge Bureau Poll Question

Do you believe Canada’s tax system based, on self-assessment, has suffered under recent changes at CRA and by Finance Canada? If so, what is the one wish you have for tax reform?

  • Yes
    342 votes
    69.8%
  • No
    148 votes
    30.2%