Knowledge Bureau Report

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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:

June 2022 Poll

Are your clients concerned they will lose their principal residence exemption due to the new house flipping tax?
Yes: 68 votes
51.52%
No: 64 votes
48.48%
 

Cast Your Vote

Deferring Old-Age Security

If you turn 65 before July 1, 2013, can you still opt to delay receipt of Old-Age Security (OAS)?

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Use Tax-Free Zones

Everyone in Canada qualifies for the Basic Personal Amount (BPA). 

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Dealing with goodwill

Goodwill can be “eligible capital property” under the Income Tax Act, explains Greer Jacks in this second of two parts on goodwill.

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Do non-residents have to pay Canadian income taxes?

Yes. The government imposes income taxes on non-residents who earn income in Canada and/or dispose of Canadian property.

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Repurpose Your Income

There are many different definitions of “income” on the tax return.

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