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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.

This Week’s Edition of KBR:

May Poll

Are you in favor of the OAS raise of 10% in 2022 for those age 75 or older?
Yes: 126 votes
No: 47 votes

Cast Your Vote

Improving cross-border tax compliance

Canada and the United States are working toward improved cross-border tax compliance.

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News from Tax Court: Crown appeals Guindon

The Crown has appealed a recent Tax Court of Canada (TCC) decision that ruled penalties were criminal in nature, not civil. If the ruling is upheld, advisors will come under increased scrutiny.

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Sometimes it’s all about the proper procedure

If you are disputing a re-assessment of your income tax filing with the Canada Revenue Agency (CRA), failing to choose the appropriate appeal procedure can prove very costly.

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Forecasters’ moderate outlook

Look for slower growth in gross domestic product (GDP) in 2013 before it picks up again in 2014, say private-sector forecasters.

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2013 CPP contribution rates

For 2013, the maximum pensionable earnings under the Canada Pension Plan (CPP) will be $51,100, up $1,000 from $50,100 in 2012.

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