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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?
Learn to File T3 Trust Returns
“This course provides an extensive knowledge about the use of trust in tax and estate planning and is to be recommended as part of a background for a tax professional. It clearly spelled out the structure, advantages and disadvantages of each type of trust. The study cases give a valuable insight into handling a variety of situations where the establishment of a trust is warranted."
It’s Not Too Late - February 26 in Depth Tax School
Please join Evelyn Jacks and guest Faculty members for a virtual mini-summit February 26 for an in depth Tax School for tax and financial professionals.
Real Tax News You Can Use
Subscribe to KBR to get our Real Tax News You Can Use Special Report! In This Edition: February 14, 2025 More Bad News on the Canada Carbon Rebate Anti-Flippers Beware: CRA Fines are Exorbitant What Residential Property Owners Need to be Audit-Proof
GST Holiday Ends This Week: Lost Aversion Kicks In
The GST holiday which began in December comes to an end on February 15th and the fallout for consumers and businesses could linger for longer than the two month exemption itself. Announced by the Prime Minister and then Finance Minister on November 21st, the end of the break will mean Canadians must once again pay more for common children’s items in particular. Further, businesses will gain incur costs to reprogram point-of-sales and accounting systems.
Anti-Flippers Beware: CRA Fines are Exorbitant
Canadian homeowners may not yet have caught up with the new rules around anti-flipping when they buy and sell their principal residences. CRA has not only tightened the reporting rules, but now can deny the tax exempt treatment if the personal residence is not held for 365 consecutive days. Some exceptions do apply. So let’s take a look at the rules that should be discussed with all home owners and potential home owners:
