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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?
Lucrative Tax Breaks for Families with Children
An often under-claimed and misunderstood tax deduction is the claim for babysitting or child care expenses. Make the claim on auxiliary tax form T778 and generally you will do so on the return of the spouse with the lowest net income. However, there are cases where the higher earner can make the claim. Here are the rules:
10 Eligible, Audit-Proof Moving Expenses to Claim
Taxpayers who moved in 2018 can take advantage of expense claims for lucrative tax breaks when filing their tax returns this year. However, there are some tricky rules that apply to eligible and ineligible moving expenses that must be considered in order to remain audit-proof with the CRA.
Tax Tips: 12 Commonly Missed Medical Expenses
Medical expenses are among the most commonly overlooked tax provisions. Most people have out-of-pocket costs not covered by a medical plan, so It’s important to pay attention to to claim them, as they can be used to reduce taxes payable. Use this checklist of twelve often-missed allowable medical expenses to your benefit, or that of your clients.
Mark Your Educational Calendar Now
The height of tax season is drawing close. Make a great decision and commit to your off-season education plan now. Train your staff for next year too. Making sure you mark early registration deadlines will save you money. Ask for group discounts when 2 or more enrol Here are the key deadline dates:
Graduates in the News - Chris Bockstael - MFA™ - Retirement and Succession Services Specialist
Certified Financial Planner (CFP) Chris Bockstael, of OneLife Wealth Management Inc, graduated with an MFA™ – Retirement and Succession Services Specialist designation, based on recommendations from colleagues who indicated that Knowledge Bureau courses were particularly pertinent to financial planning.
