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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?
Do non-residents have to pay Canadian income taxes?
Yes. The government imposes income taxes on non-residents who earn income in Canada and/or dispose of Canadian property.
Putting “goodwill” to work for you
Understanding the concept of “goodwill” will work to your advantage, as Greer Jacks explains in this first of a two-part series.
Do you have to report income from foreign sources?
In some countries, such as the United States, taxation is based on citizenship. In Canada, however, the government levies income taxes based on residency.
Mind Your Fs and Ps
Federal tax returns are required to be filed by all Canadians who have a balance due or file to recover overpaid taxes or refundable tax credits. Provincial taxes for the whole year are based on your province of residence on December 31.
