A thorough analysis of today’s financial news—delivered weekly to your inbox or via social media. As part of Knowledge Bureau’s interactive network, the Report covers current issues on the tax and financial services landscape and provides a wide range of professional benefits, including access to peer-to-peer blogs, opinion polls, online lessons, and vital industry information from Canada’s only multi-disciplinary financial educator.
Financial professionals and thought leaders are gathering for a compelling Meeting of the Minds session tomorrow: “ROI or ROL: Redefining What Real Wealth Means to You.” This complimentary, one-hour virtual event explores a powerful shift in wealth management — move beyond Return on Investment (ROI) towards Financial Peace of Mind – a Return on Life. It’s about aligning financial strategies with purpose and helping clients achieve true peace of mind.
The 2025 Acuity Conference is proud to feature keynote speaker Kim G.C. Moody FCPA, FCA, TEP, FDFS™. In his session, “Having a Leadership Mindset”, Kim will share why professionals must think beyond technical expertise to lead with vision, courage, and purpose. See the full agenda and register by the September 30 early-bird deadline on the official conference site!
Effective October 1, 2025, important changes will be made to the Voluntary Disclosures Program (VDP) at the CRA in order to make it easier for taxpayers to correct unintentional filing errors or omissions. The details on how the changes will affect your clients are being discussed in the CE Summit held September 17 and this course is now available for online enrolment and CE accreditation, after the virtual event. Here are some highlights of the changes.
Important news for tax and financial advisors: the over 65 demographic may not be as affluent as some might think; yet they still pay a lot of income tax. Canadian seniors sent just over $58 billion to the government in the form of income taxes in 2023, the last year for which statistics are available. It works out to an average of more than $12,000 per person. It leaves the average after tax income for those over 65 in Canada at just over $45,000.
The Bank of Canada has reduced its target for the overnight rate by 25 basis points to 2.5%, with the Bank Rate at 2.75% and the deposit rate at 2.45%. This is the first interest rate cut by the Bank since March. It comes in the wake of higher unemployment, a reduction of 1.5% in Canada’s GDP in the second quarter and indicators that global economic growth is slowing. With lower inflation risk, the cut was deemed appropriate to “better balance the risks.” From a planning point of view, this may indicate an emerging income splitting opportunity.