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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.
May 2025 Poll
Does the Liberal promise expected soon to cut the lowest personal income tax rate by 1% to 14%, go far enough to help Canadians impacted by high costs?
Solution for Late T4 Slips
If you receive a T4 slip you forgot about after you have filed your tax return, don’t file another return. Just send in a copy of the slip with a T1 Adjustment Request from (T1ADJ).
Cross Border Workers: Travelling Lite has Tax Benefits in Court
In a recent case the ‘Tie Breaker’ rules were used to determine the tax status of a group of American business people working in Canada in Dysert v. The Queen (2013) TCC 57.
Couples Who Borrow to Invest Need to Mind Tax Guidelines
Here’s a common issue encountered by tax and financial advisors. The client is Mr. X who has borrowed money to invest and wants to write off the interest. Can the investments be held jointly with his wife, Mrs. X for estate and tax planning purposes? What are the pitfalls to consider?
What is the New Family Caregiver Amount?
A new tax credit found on Schedule 1 and 5 of the federal tax return bumps up your existing non-refundable credits by $2000 when you care for an infirm person.
Avoid These Common Tax Filing Mistakes
Canadians love tax refunds, but hate rounding up the paperwork to do the return. That’s where common tax filing errors really begin.
