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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.
September 2025 Poll
On September 2, Finance Minister Champagne mandated CRA to implement a 100-day plan to “strengthen services, improve access, and reduce delays.” That’s by December 11, 2025. Do you believe this approach will help?
U.S. Gift Tax – What it Means for Canadians
The U.S. Gift tax is one part of the American transfer tax system. It was introduced in 1932 as a backstop to the U.S. estate tax. Without the gift tax, large estates could be reduced by simply giving everything away prior to death. The gift tax was and still is not meant to raise revenue per se. Do Canadians have to worry about having to pay this tax? Possibly. Here’s a primer of what you need to know.
Year-End Tax & Investment Strategies Amidst Change
Year-end tax and investment strategies for individuals and small business owners in the context of the current environment has significantly changed. Think AMT on donations and intergenerational transfer rules that can increase tax risk in 2024. Learn more from Evelyn Jacks and special guests Alan Rowell and Carol Willes at the November 1 Virtual CE Summits. A comprehensive full day virtual event, the CE Summit also includes access to a comprehensive new CE Savvy Collection Entitled New Issues in Year End Tax Planning and up to 15 CE Credits. Check out the agenda below and register by the October 15 early-bird deadline!
DAC 2023 – Register by September 30 and Meet our Illustrious Silver Partners
There is still time to register for DAC November 12-13 at the beautiful Banff Springs Hotel. Save Money - early registration ends September 30. The organizations and thought leaders that represent them at DAC 2023 will keep the insights rolling, and we give special thanks to Moodys Tax Law and Cadesky U.S. Tax for partnering with us. Now, just imagine being live and in person with renowned tax specialists Kim Moody and Dr. Dean Smith who will unwind tax complexity for you. But you’ll want to attend special ice breaker event open to all attendees for a few laughs first! Check out the educational content and all the fun networking events:
Get IIROC Credits Before Year End!
Looking for IIROC credits before year-end? Knowledge Bureau is pleased to have 3 professional CE options available to earn both PD and compliance credits before year end. Check out the RWM™ program (xx PD credits), the MFA-P™ (xxx credits) and the new Certificate Course, Navigating Privacy Issues (10 Compliance Credits). These outstanding programs are well reviewed (see below) and can be taken anytime, 24/7 online in the convenience of your home or office. Plus, save an additional $75 on tuition when you register by the next session intake date: October 15.
Tax Delinquents: Counsel to Catch Up Late Filings
It’s a sign of the times: everything seems to be going up, including the billions Canadians owe to CRA. But now is a good time to catch up and stop the tax bleed. Looking at the most recent stats from February 6, 2023 to September 18, 2023, 23% of returns filed this year had an average balance of $7556: collectively a whopping tax debt of $54.8 Billion. These costs grow with expensive late filing penalties and interest charges. Delinquent taxpayers can avoid incurring more costs by understanding the penalties and in hardship cases, requesting relief from penalties and interest. But they may fear CRA repercussions and some sage counselling from their financial advisors can help to get it done. Start with a quick checklist:
