News Room

Finance Canada Drops Draft Legislation August 15

All professional tax practitioners, financial advisors should take note of an important mid-summer release of draft legislation to implement some of the proposals from the November 2024 Fall Economic Statement, the April 2024 Budget, the EIFEL rules announced on August 12, 2024, and rules relating to passive income of foreign affiliates announced in the 2022 federal budget.  This draft legislation also introduces more modifications to new trust filing requirements. Brief highlights appear below;  technical details will be discussed in the September 17 and November 5 CE Summits and Knowledge Bureau’s certificate course on T3 Filings. 

Support for Children

For all agreements or court orders after May 1997, child support payments are not taxable to the recipient or deductible by the payor. For income tax purposes, any support stipulated in an agreement or court order is deemed to be child support if it is not identified as spousal support.

RRSP Payment as Pension Income

When is an RRSP payment considered to be a pension for the purposes of completing public insurance, nursing home per-diems and other application forms?

Master Your Retirement: Follow the Ebbs and Flows

Surprise: there is nothing magical that happens when you enter retirement to suddenly make you immune to the trials and tribulations of everyday life. The sooner you acknowledge this, the closer you are to “Mastering Your Retirement.”

Build and Sustain Secure, Value-Added Client Relationships

Death is one certainty in life that most of us prefer not to think about. But if you recognize that exploring your clients' tax strategies to avoid tax erosion at death will increase the legacy passed on to family and community, specialize in this hot topic by enroling in Final Returns on Death of a Taxpayer.

Be EverGreen for St. Paddy’s Day

Find the luck of the Irish with our EverGreen St. Paddy's Day special! Buy a 3-month EverGreen Explanatory Notes subscription ($199) and receive a FREE 3-month Calculators subscription ($249 value!). The luck runs out March 17!

Support Winn$tock by Donating

Join Knowledge Bureau, sponsor of Winn$tock 2014, in helping to raise $100,000 in support of The Movement Centre of Manitoba.
 
 
 
Knowledge Bureau Poll Question

A public consultation on whether the CDIC’s deposit insurance limit should be raised to $150,000 per deposit category is underway. Do you agree?

  • Yes
    81 votes
    93.1%
  • No
    6 votes
    6.9%