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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:

February 2023 Poll

Should Canada bring back 5 year income averaging provisions to smooth out irregular income flows?
Yes: 21 votes
100%
No: 0 votes
0%
 

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Understanding Synthetic Dispositions

A “synthetic disposition” refers to financial arrangements which allow taxpayers to defer tax by “economically” disposing of a property while continuing to own it for tax purposes. These transactions were shut down as of Budget Day, March 21, 2013.

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Messing with the New Housing Rebate Unwise

A decision released recently from the Tax Court of Canada will be of interest to those seeking to apply for the new housing rebate for a principal residence. Wong v. The Queen, 2013 TCC 23 featured an interesting analysis of subsection 254(2)(b) of the Income Tax Act (the Act) as well as actions from the appellants that is worthy of note.

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New $5 and $10 Bills to Start Circulating in 2013

The Bank of Canada unveiled the latest and last of the new redesigned polymer bank notes this week. The $5 and $10 polymer notes will complete the series that began with the $100 note in November 2011.

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Lost Your Job? Use an RRSP Strategy

Employees who leave their jobs and receive retiring allowances should include an RRSP strategy in their planning to keep more of that money.

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Canadian Productivity Improvement is Key to Future Prosperity

There is some good economic news and some bad in an article released by Statistics Canada on April 17, which reveals interesting statistics about the productivity of each province during the period 1997-2010, using the most recent provincial multifactor productivity database.

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