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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?
Income Tax Act’s new anti-avoidance provisions
If the federal government decides to crack down on “aggressive” tax avoidance transactions, does it signal a sea change for advisors or is it really much ado about nothing?
Taxing retroactively is legal
Imposing taxes retroactively seems contrary to a rational, moral approach to taxation, but it is legal.
Taxpayer relief for 2002
Taxpayers and all tax registrants have until Dec. 31, 2012 to file requests under the taxpayer relief provisions for the 2002 tax year and any reporting period that ended during the 2002 calendar year.
“Break fees” taxable as income
If a company receives a “break fee” in a failed takeover attempt, that fee is income for tax purposes, not a capital gain or a non-taxable “windfall.”
Competency-based hiring
If you are hiring, it is important that you hire the “right” person for the job and “competency models” can help you do that.
