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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.
June 2025 Poll
Are your clients owed money by CRA? As of March 31, 2025, the CRA holds about 10.2 million uncashed cheques totalling $1.7 billion. In your view, why is this happening?
DAC 2023: Explore Banff with These Activities
The early bird deadline is September 30. So there is plenty of time to register for The Distinguished Advisor Conference and save on tuition fees. But there is more great news! We’ve been able to negotiate another block of rooms at the Beautiful Banff Springs Hotel at the KB conference rate – you really can’t afford to miss that! And we’ve lined up some incredibly fun networking opportunities to complement the seriously great educational agenda. Check out all the activities and sign up soon through the DAC Interactive Agenda, as spaces are limited! Secure your place at the futurescape: the 20th Anniversary DAC conference!
7 Big Audit Errors CRA is Catching, Worth Billions
CRA is sharpening its audit focus on Canadian real estate owner and it’s worth billions. Up to 5 different tax returns can be reviewed: the T1, T2, T3, the GST/HST return, and the new Underused Housing Tax. Recent real estate audit activities in two provinces, BC and Ontario, have been particularly fruitful with over $1 billion in tax reassessments that have resulted in each province along with over 3,000 gross negligence penalties amounting to close to $300 million more in the period April 2015 to March 2022. We’ll discuss the 7 big audit errors every professional advisor needs to know about at the CE Summit on September 20 and invite you to register by September 15 for an early bird offer. Here’s a brief synopsis:
Tax Tip: Multigenerational Home Renovation Tax Credit
Spread the word! It’s new for 2023 and subsequent taxation years, and up to $50,000 in construction expenditures may qualify for each qualifying renovated property. This is the Multigenerational Home Renovation Tax Credit (MGHRTC) and it’s quite lucrative. A $7,500 refundable personal tax credit is possible for eligible renovations or the construction of a secondary unit to enable an eligible family member to live with you. Who are these eligible people and renos? Let’s check it out, based on the great guidance in Evergreen Explanatory Notes, Knowledge Bureau’s tax research library, included with every professional certificate course.
Capital Gains Deferrals: Covid Time Not Counted
As the third quarter of 2023 begins, many taxpayers will be sitting down with their advisors to discuss tax planning and specifically, what can be done before year end to reduce or at least defer cash flow required to settle tax debts triggered by 2023 transactions. In addition, thanks to proposed legislative amendments released August 4, 2023, there may be opportunities to recoup prior year tax dollars regarding transactions that triggered tax; specifically for the deferral of capital gains that would otherwise be realized.
DAC Acuity 2023 Sets the Gold Standard with Sessions on Private Markets & Insurance
On Monday, November 13 thought leaders from our gold partner organizations will be taking the stage at DAC Acuity 2023. Don’t miss exploring the world of private markets with Natalie Camara, Director, Alternatives, Specialized Sales – Western Canada, BMO Global Asset Management or finding out the answer to whether or not venture debt is a positive hedge from Espresso Capital’s Dennis Hettinger. Ready to embrace new transformative change with insurance solutions? Hear from Massimo Nini and Dan Fortuna from AGA Benefit Solutions, and Barry Ferguson of Wealth One Bank with Richard Pyper from Monarch Wealth systems These industry change-makers will inspire you with their compelling sessions. Register by the September 30 early-bird deadline!
