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.  

Interest Rates Staying Put…But Not the Loonie

Every six weeks the Bank of Canada announces its interest rate policy. Last week, the Bank of Canada maintained the benchmark interest rate at one percent, signaling the continuation of the longest span of inactivity on the issue ever.  

When Is a Fraud a Business? Never, Apparently

Traditionally, if a business venture was a fraud from beginning to end, the courts have held it is not possible for a business to exist and therefore can be no source of income from which expenses could be deducted for tax purposes.

Evelyn Jacks: Non-Resident Pilots and Overseas Workers See Tax Hikes in 2013

When it comes to tax time, it always pays to do a good review of the tax changes from one year to the next and find those “dark horses”; the little-known tax facts that can make a big difference on tax filing outcomes. 

Grad Spotlight - How Doris Expanded Her Tax Knowledge Base and Grew Her Business

Doris Woodman-McMillan earned her DFA-Tax Services Specialist™ designation in 2008, and has been active Knowledge Bureau as a presenter and content beta tester. We are pleased to have Doris as one of our distinguished grads.

Hospital Parking to be Exempt from GST/HST

The federal government announced on January 24 that a new exemption would be available on hospital parking costs for patients and their visitors. Comments on the proposals are to be submitted to Finance Canada by February 24.

Northern Residents Deduction

If you lived in a prescribed northern or intermediate zone for a period of at least six consecutive months beginning or ending in a taxation year, you may claim the Northern Residents Deduction on Line 255 by filing Form T2222 Northern Residents Deductions.
 
 
 
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
    343 votes
    69.86%
  • No
    148 votes
    30.14%