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STAY UP-TO-DATE WITH BREAKING TAX AND INVESTMENT NEWS.
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.
December 2024 Poll
Should the $250 Working Canadian Rebate be passed into law to provide tax relief to individuals with working net income under $150,000, who also contribute to the CPP?
Will the U.S. Election Affect Canada’s Economic Outlook?
Will the election results in the U. S. affect the Canadian economy? It’s quite possible, as the Canada-United States-Mexico Agreement is up for renegotiation and review in 2026 and the potential for expensive new tariffs has been raised. It was just last month that Canadians could expect a solid increase in real GDP growth in 2025, followed by a levelling off in the following two years. That was the projection from Canada’s Parliamentary Budget Office report. Here’s the forecast, in the absence of significant new Trumpian policies:
Understanding Terminal Losses
As the tax year draws to a close it’s important to understand what happens when a depreciable asset is disposed of. If that is less than the undepreciated capital cost, a terminal loss results. A technical tax update may be in order because some of the rules are quite interesting.
Introducing the 2025 Acuity Conference for Distinguished Advisors!
As we get ready to kick off Acuity 2024 in Montreal this weekend, we’re giving you a sneak peek of what’s in store for the 2025 Acuity Conference for Distinguished Advisors! We’re headed back to Puerto Vallarta November 23-26 and you can save 50% on tuition when you register by November 15 for Canada’s only top-tier multi-disciplinary conference for leading tax, accounting and financial services professionals.
Get Up to Speed on Year-End Tax Planning!
New Capital Gains Inclusion Rates Change the Game: are you prepared to help? Learn New Year-End Tax Planning Techniques from Our Special Guest Experts with the CE Savvy Summit, featuring live event recordings from the November 6 virtual sessions. This is an opportunity to upskill your knowledge, learn from Canada’s top experts an earn 15 CE Credits before year-end. Plus, you have an opportunity to earn your Diploma in Advanced Family Tax Compliance.
Bare Trust Filings: Are T3s Required for 2024?
Great news! CRA has a Halloween treat for tax accountants and their financial advisors this year: it will not require bare trusts to file a T3 return include Schedule 15 for both the 2023 and in the 2024 tax year. This confirms the position in the draft legislation released over the summertime and previously reported in Knowledge Bureau Report. Here’s the backdrop:
