KBR Poll: A Huge Opportunity for Tax Reforms

The Knowledge Bureau News Network was vibrant last month, especially in the Knowledge Bureau Report Poll. Over 98% of readers who answered overwhelmingly were in favor of tax reforms and they had some great comments as well. Take a look:

Love this tax tip: all income sources are not taxable. Here’s my top 10 favorite “dark horses” – exempt amounts most people don’t know about.

Filing a tax return is the first, and often most important, financial transaction of the year for millions of Canadians. What’s different in 2018? For starters, the government is hanging on to early filers’ refunds longer than ever. With last year’s average tax refund clocking in at just over $1,735, that’s a big deposit that cash-strapped Canadians don’t have for their RRSP or TFSA deposit.

The verdict is out on non-compliant taxpayers: 87% of Knowledge Bureau readers gave a big thumbs down on putting themselves at risk by tolerating bad behaviors by taxpayers. Given the changes to the Voluntary Disclosures Program, starting March 1, 2018, so has the CRA.

What is the future of human work when robos are coming on so strongly?  Studies show that lifelong learning is essential for personal and professional development and in fact, that university students need to be ready to “re-skill” the moment they graduate. This from The Future of Jobs report, published by the World Economic Forum.

Small business owners are taking note: small business tax reforms are here to stay, the news is not good, and they are not happy about it. In fact, some are taking drastic actions, at the peril of Canada’s local economies.

The Canada Caregiver Credit, or CCC, is by far the most complicated provision on the 2017 tax return. In this last article of our series, we’ll give you some true-to-life examples of how to claim it for your loved ones who may be suffering an infirmity.