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.
Lorne Jackson, Knowledge Bureau Undergraduate, CFP, CEA, CKA, and President of the Canadian National Christian Foundation (CNCF), Financial Discipleship Canada works with over 40 Canadian registered charities. After 25 years in the financial services industry, Lorne sold his company and left the "for profit" world in 2002 to create the CNCF, and recently decided to take the Introduction to Strategic Philanthropy certificate course with Knowledge Bureau.
Running out of money or the inability to maintain a desired standard of living is a very familiar concern for most Canadians. It’s an issue that needs to be addressed, not only by the government, but also by wealth planners who have an opportunity to work with senior clients in overcoming the obstacles they face.
April 30 was the filing deadline for most Canadians who wish to avoid penalties and interest on outstanding taxes due starting on May 1. But the CRA has extended tax filing relief to the victims of the devastating floods in Eastern Canada. Knowledge Bureau students will also be granted extensions on their studies. Here is what to do to obtain relief:
Knowledge Bureau’s April poll asked tax professionals whether they think it’s fair that EI contribution amounts will go up for both taxpayers and businesses to fund the Canada Training Benefit proposed in Budget 2019. It’s a topic that proved to be controversial, but you’ll have to read on to learn whether the majority were for or against this EI enhancement.
With the April 30 deadline for individuals now a thing of the past, it’s time to focus on getting those proprietorship returns filed! The deadline to avoid late filing penalties is Monday, June 17 this year, but it’s a good idea to get those returns in sooner. Here’s why: