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Financial Issues & Answers for Everyone
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.
August 2025 Poll
A public consultation on whether the CDIC’s deposit insurance limit should be raised to $150,000 per deposit category is underway. Do you agree?
New 30-Year Amortizations for Insured Mortgages
Effective August 1, 2024, the government will allow 30-year mortgage amortizations for first-time homeowners who purchase newly built homes. For existing mortgage holders who meet specific criteria, “permanent amortization relief” will be available to extend repayment periods for as long as they need to get to the number they can afford to pay monthly. It’s an extension from the 25-year mortgage amortizations previously allowed. However, this isn’t for everyone… there is a significant risk to lifetime wealth creation and must be managed with an eye to interest rates and payment terms to reduce the non-deductible interest costs.
Loss of a Loved one: Charitable Donation Strategies
Did you know there are several options for claiming charitable donations in the year of death that can help to offset expensive tax on the terminal returns? Here is a run-down of six of them.
Poll Results: Tax & Financial Pros’ Tales of Frustration on Recovery of Pandemic Benefits
Tax and financial professionals who answered our July poll question had a majority agreement that it is fair that the CRA started to issue legal warnings beginning in July to recover the more than $9 billion of overpaid pandemic recovery benefits like CERB. The consensus is that Canadians need to pay back the money if they weren’t entitled to it. At the same time, many comments pointed to the need for CRA accountability in the roll-out and administration of these programs. Thanks to those who participated – check out the comments below:
September 18 CE Savvy Summit: Update on New Tax Provisions for 2024 & Beyond
Canadians’ relationship with the CRA’s enlarged department has changed substantially, along with the digital environment it operates under. Add to this a barrage of new tax measures and new powers bestowed on CRA, and it spells Audit Risk. Tax audit defence is now a key component of every professional’s duty to their clients, including financial professionals, who find themselves answering more tax planning questions as tax accountants focus on tax compliance. Come up to speed quickly in the comprehensive CE session at the September 18 CE Savvy Summit Virtual Event, as Canadian best-selling tax author and educator, Evelyn Jacks overviews recent new tax measures for:
Asset Management: Managing Retirement Fear Factors | Douglas V. Nelson
Ever listened to Canadians on a beach in a far off land thinking about how they can continue to fund their expenses in Canada and abroad? Will they have to sell the home, the cottage or the condo in Mexico to make ends meet? Worse, will new capital gains taxes compound their cash flow problems if they do? These real life decisions would be made so much easier if their financial portfolios could provide a safe haven to cover such unexpected new risks. Join Douglas V. Nelson as he discusses these topics in a session sponsored by BCV Asset Management entitled Managing Retirement Fear Factors at the 2024 Acuity Conference for Distinguished Advisors November 10-12 in Montreal.
