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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?
Mark Your Calendar: May-June Tax & Investment Planning Milestones
By May 6, the CRA received 28.5 million returns with over 94% of them submitted by electronic methods. For those Canadians receiving a refund, the average amount is $2,165, another annual increase over last year which came in at $2,053 for 2022. Train now and help tax filers pay the correct amount of tax and no more both for their 2023 tax returns, which can be adjusted for errors and omissions, and in planning for their 2024 tax liabilities. Mark your calendar for these upcoming tax, investment and financial milestones, which include new dates from the Federal Budget, like the June 25 Capital Gains inclusion rate increase. Get all the details below!
Estate Planning – What Now?
Well, if we could all arrange to pass away before June 25th that would be very tax efficient! But that’s neither advisable nor desirable so we have to think about the post-budget estate planning realities. Does it make sense to set up testamentary trust anymore? Death is a large deemed disposition. Should we consider realizing some gains along the way? What has happened to the ability to make charitable donations on death? And what to do about the cottage? Find out more when you join us at the May 22 CE Summit.
Become a Real Wealth Manager™ - Deliver the Confident Advice Your Clients Need
Check out the recording of the live round table session featuring practicing members of the Society of Real Wealth Managers™ and learn more about how a Real Wealth Management approach can help your clients achieve financial peace of mind through the collaborative multi-stakeholder strategies aimed at building sustainable inter-generational wealth after taxes, fees and inflation. With recent budget announcements, inflation and more weighing heavily on Canadian taxpayers, having the ability to deliver confident advice has never been more important! Register now for the Orientation and consider enrolling in the Designation Program at a special tuition rate, only until May 31.
Retirement Income Planning: The Secret Ingredient
A new credential is available through Knowledge Bureau and it’s important because it will engage Millennials, GenX and Boomer co-horts in planning around their financial nemesis: taxes. The thoughtful role of the DMA™ Retirement Income Services Specialist is critical in achieving required after-tax outcomes that can skillful lead to greater financial peace of mind of retirees, and those saving for retirement. Plus, a comprehensive online program orientation is available to check out the curriculum risk-free!
Beware the Tax Traps: June 15, June 21, June 25, and June 30/July 2
And you thought tax season was over! Three significant tax milestones loom in June and they require immediate attention now that the April 16 budget has increased the capital gains inclusion rate from 50% to 66 2/3% - a move potentially affecting up to 3 million taxpayers over the course of this decade. It’s historic, because, not since 1988 – 36 years ago- has the capital gains inclusion rate changed. This is a time for tax and financial advisors to shine, despite the fact that they are forced to advise with a blindfold: the April 30 Notice of Ways and Means motion did not introduce the legislation for the massive changes to come. Here’s what you need to consider:
