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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

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How the CRA is helping small business

The Canada Revenue Agency (CRA) has been charged with reducing red tape and making it easier for small businesses to do business.

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Stats Can revises 30 years of data on the income of Canadian Households

Statistics Canada released revised data on the income of Canadian households for 1981 though 2010.

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Source deductions

A recent Tax Court of Canada (TCC) decision, in Sutcliffe v The Queen, contains some interesting information regarding that court’s jurisdiction, specifically to its inability to decide whether source deductions have been taken or not.

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Broker Error Raises Kraft Market Price 29% in First Minute of Trading

Those holding stock in the Kraft Foods Group Inc were surprised, to say the least, when on Thursday October 4th the Kraft shares opened at $45.55 then surged to $58.54. The Nasdaq attributed the rapid change to “broker error.” This occurred only days after Kraft Foods and Mondelez International, a former part of Kraft foods began trading as two separate companies.

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Importance of business location for First Nations tax exemption claims

DISTINGUISHED PRACTICES: Tips for Real Wealth Managers™. A July Tax Court of Canada decision clarified the importance of the location of a business for the purpose of tax exemption.

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