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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 new government’s 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? What are alternatives in your view?
Employed or Self-Employed?
Roller Hire v The Queen (2013). A common battle in the Tax Court of Canada is one between the designation of employee or independent contractor. The case of Roller Hire is a recent example, and Judge Hogan made some interesting comments for the Court.
RRSPs Down, TFSAs Up
Recent RRSP & TFSA savings statistics show that only 26% of eligible taxfilers contributed to an RRSP in 2010, but this dropped to 24% in 2011.
Paying a Balance Due to CRA? Order a Remittance Form First.
Is it true if you have a balance owing to CRA and you do not want to pay on-line you need to call CRA for a pre-printed form?
New Form T2038 Investment Tax Credits
The Atlantic Investment Tax Credit provides a 10% refundable tax credits for certain investments in new buildings, machinery and equipment used in the Atlantic region and the Gaspé Peninsula, in farming, fishing, logging, manufacturing and processing, oil & gas, and mining industries.
Closing Down Tax Havens
Canada has one of the largest networks of bilateral tax treaties in the world. In Canada, the Government signs treaties with other nations, but Parliament must enact the laws to make the rules within them enforceable.
