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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.
June 2025 Poll
Are your clients owed money by CRA? As of March 31, 2025, the CRA holds about 10.2 million uncashed cheques totalling $1.7 billion. In your view, why is this happening?
Hudson’s Bay Artifacts May Have Tax Benefits
Hudson's Bay has received a judge’s permission to auction off 4,400 artifacts and art pieces which includes the 355-year-old royal charter that launched the company. Did you know that the buyer may qualify for a little-known donation tax credit if that property is subsequently donated to an institution of public authority designated by the Minister of Canadian Heritage? This opportunity in fact should be incorporated as part of the high value professional discussions astute tax and financial pros can have with their clients in possession of such treasures.
Navigate the New Era of Trust Reporting: May 21 CE Savvy Summit
In a rapidly evolving tax and estate planning landscape, one topic has stood out for its complexity and controversy: Bare Trusts. These once quietly used tools for holding family cottages, minimizing probate, or preserving privacy have now found themselves under the microscope of new CRA reporting requirements.
Build Business Value in a Shifting Economy
Small businesses remain the cornerstone of the Canadian economy, accounting for 98% of all employer businesses and employing over two-thirds of the private labour force, according to Statistics Canada. Yet, in today’s volatile economic climate, these businesses face growing challenges: persistent inflation, a high cost of borrowing, and significant workforce shortages. For many owner-managers, the need to build scalable, resilient enterprises has never been more urgent. Today’s small business owners need more than just technical advice—they need leadership, clarity, and vision.
How Can You Fund Your Knowledge Bureau Education?
There are numerous funding options to help make your professional studies more affordable, including financing available through Knowledge Bureau, funding through each student’s own tax-assisted savings plans, and tax assistance through various CRA tax incentives. However, what can be deducted depends on who you are and what programs you will be involved in.
Late Filers Give Up Millions
Tax professions know that not every client will file their income taxes on time, and that’s a costly mistake. Did you know that each year over three million Canadians file past the deadline? Those late filers are losing big money. First if they are due a refund, they are losing out on the money that could be accruing in a TFSA, RRSP, FHSA or another tax savings account. But there is a second, more expensive consequence, one that will increase in the future, too.
