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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 Poll

The RRSP deadline for the 2023 tax year is February 29. From a wealth planning perspective, do you think middle aged Canadians should invest in a TFSA instead?
Yes: 78 votes
No: 45 votes

Cast Your Vote

How much of my training costs can I claim as a business deduction?

Training costs will not be deductible if they are considered to be “capital” in nature—that is, if they result in a lasting benefit to the taxpayer.

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Review Disability Tax Credit Forms with Doctors

The Disability Tax Credit is lucrative—be sure to take the time to review the Disability Tax Credit Certificate (Form T2201) with your doctor.

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Real Estate Agent Tests Gross Negligence Definition

The Tax Court of Canada recently allowed aspects of an appeal of one prominent real estate agent in Winnipeg from reassessments made by the Minister of National Revenue (MNR).

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RDSPs: Year End Planning News

If you have a client who has a Registered Disability Saving Plan and is receiving disability assistance payments from the plan, a portion of these payments will be shown in Box 131 of a T4A slip and added to income on the 2013 return.

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What is the Timeline for Claiming Charitable Donations?

Gifts made by you or your spouse in the current year or in any of the immediately preceding five years can be claimed on this year’s return so long as those donations have not already been claimed.

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