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Financial Issues & Answers for Everyone
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.
May 2025 Poll
Does the new government’s promise, expected soon, to cut the lowest personal income tax rate by 1% to 14%, go far enough to help Canadians impacted by high costs? What are alternatives in your view?
Winter Study Sprint: Enrol by December 15
It’s a good time to register for our new Winter Study Session: we’re calling it a training “sprint” and it runs from December 16 to February 15. You can start anytime at your convenience, but here’s the advantage: you’ll have another professional credential under your belt before tax season. . .and you’ll save an extra $50 on certificate course tuition, too. Here’s a sneak peek at our newly published courses for the winter session:
Special Report: November 30 Fall Economic Statement
In its second economic update since the start of the pandemic, the federal government announced a continuation of pandemic support measures for individuals and business owners. The detailed 237-page Fall Economic Statement outlines a continuation of an unprecedented level of spending over a five-year forecast period. Further, new spending on economic recovery is proposed, in a wide-ranging plan which includes broad-based initiatives as diverse as grants, loans and the recruitment of “energy auditors” for home retrofitting, to new money for a network of quarantine and self-isolation facilities across Canada.
At Risk Seniors Are Caregivers, Too
An important but underreported trend in the current pandemic is the reality that 25% of our seniors are caregivers, according to a new report released November 24 by Statistics Canada. Further, over 50% of these seniors need more financial support. Tax and financial advisors are well positioned to help.
Canada Emergency Rent Subsidy (CERS) Now Available
The Canada Emergency Rent Subsidy (CERS) Program, initially presented in draft legislation back in October, was just approved by the Senate late last Friday. With new lockdowns in place across Canada and rent due next week, many small business owners are stressed, without revenues, and grasping at this latest straw, which is also very complex. But there is some good news in the detail.
CRA Clarifies Important CEWS Details in FAQ
Over the past weekend, the government quietly added to their Canada Emergency Wage Subsidy (CEWS) FAQ and updated the application portal, clarifying a number of important questions for business owners on the deeming rule for claim periods 5 to 10, employee bonus and commission in eligible remuneration calculations, and how to handle pay associated with termination when applying for the CEWS. We’ve pulled out the highlights for you:
