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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.

This Week’s Edition of KBR:

March Poll

This tax season CRA is providing online tools to estimate telephone answering and return processing wait times. Do you think this is a service improvement?
Yes: 66 votes
30.14%
No: 153 votes
69.86%
 

Cast Your Vote

New BPA: Poll Says ‘No’, It Doesn’t Improve Tax System

The new Basic Personal Amount proposed on December 9, 2019 is very complicated. The calculations on the TD1 forms and their accompanying worksheet will challenge even those with pride in their financial literacy. What do tax and financial advisors think: is this tax change an improvement to our tax system? You may be surprised at the verdict in last month's poll.

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B.C. Regulators Ban Charitable Gifts of Life Insurance

Life insurance and Estate Planning professionals across the country were recently shocked to discover that traditional gifting of life insurance policies to charity is now considered “trafficking” by the British Columbia Financial Services Authority.

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Sharing the Love: Announcing the Gratitude Contest Winner & Your Valentine’s Day Gift

The news is big: first, we are delighted to announce the winner of a free registration to The DAC Acuity Conference in Niagara Falls this October 28-30. Next, we have  a Valentine’s Day gift  for you! And last but not least, something to make you smile: check out the DAC photo gallery of the highly successful 2019 DAC in Puerto Vallarta. Guess who had the most fun?

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Attendees Rave About the CE Summit Knowledge Journal: Get Yours!

Did you miss the Winter CE Summits? You can purchase the CE Summit January Advanced Tax Update Journals for your team for only $395. Plus, you get the new assignments included for free. Here's why Winter attendees encourage you to get yours:

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Charitable Donations by Will: Income or Capital?

Last week at the CE Summits in Vancouver, an interesting question arose with regards to the deductibility of gifts left by a deceased taxpayer to a specific charity in his will. Would that specific bequest qualify for the donations tax credit on the final return, a trust return or both? It turns out, the answer may be neither. 

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