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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:

December 2022 Poll

Do you believe the new anti-flipping tax will reduce personal net worth in Canada in 2023?
Yes: 6 votes
No: 16 votes

Cast Your Vote

Solution for Late T4 Slips

If you receive a T4 slip you forgot about after you have filed your tax return, don’t file another return. Just send in a copy of the slip with a T1 Adjustment Request from (T1ADJ).

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Cross Border Workers: Travelling Lite has Tax Benefits in Court

In a recent case the ‘Tie Breaker’ rules were used to determine the tax status of a group of American business people working in Canada in Dysert v. The Queen (2013) TCC 57. 

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Couples Who Borrow to Invest Need to Mind Tax Guidelines

Here’s a common issue encountered by tax and financial advisors. The client is Mr. X who has borrowed money to invest and wants to write off the interest. Can the investments be held jointly with his wife, Mrs. X for estate and tax planning purposes? What are the pitfalls to consider?

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What is the New Family Caregiver Amount?

A new tax credit found on Schedule 1 and 5 of the federal tax return bumps up your existing non-refundable credits by $2000 when you care for an infirm person. 

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Avoid These Common Tax Filing Mistakes

Canadians love tax refunds, but hate rounding up the paperwork to do the return. That’s where common tax filing errors really begin.

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