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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.
August 2025 Poll
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?
Pre-Budget Tax Consultations
Have you completed the pre-budget consultations questionnaire the Finance Department has posted? The government wants your feedback, but are the questions posed relevant? Notably absent are personal and business tax topics, and the opportunity to provide your thoughts on the effect of long-term debt on the future value of Canadians’ retirement savings. Perhaps most puzzling is the lack of vision for the future of the world of work and specifically, the role of small businesses in the economic recovery. Contributing to the conversation is, however, important to bring your “feet-on-the-street” perspective.
CRA Double Dip: Home Renos and Medical Expenses
When alterations are made to a home to allow a taxpayer or a dependant be more mobile or functional within the home, it’s possible to accomplish a rare, and legal double-dip on the 2020 tax return. Specifically there are two tax provisions to look to for tax savings.
Economic Recovery: Tax Reforms Play Key Role
The right tax structure is critical for post-pandemic economic recovery as fragile, debt-laden governments and businesses alike venture out of crisis towards economic stability. The Fraser Institute, in a new analysis, makes an interesting case for consumption taxes to minimize the potential damage to economic growth from other forms of taxation.
Recovery 2023? The Problem with Canada’s Debt Level
This tax year might well represent the least expensive one for a while. While there is some economic good news, the long term forecast for tax rates is grim, given current debt levels. Two authoritative research papers, one from the past and one more recent, tell us why paying attention to tax planning and savings this year will help Canadians manage future tax risk.
Need Reliable Answers to Tax Questions, 24/7?
Are you frustrated with long wait times for CRA responses or unsure if the answers you have been given are right? Although the CRA has recently hired a third party to give “general” answers about pandemic supports on the T1, professionals need to be precise when filing. Having fast, authoritative access to tax questions helps down the line at tax audit time, too. That’s the role of Evergreen Explanatory Notes, available 24/7, in your professional toolkit.
