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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:

February 2023 Poll

Should Canada bring back 5 year income averaging provisions to smooth out irregular income flows?
Yes: 21 votes
No: 0 votes

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The Economic Pain is Multi-Generational: Economic Outlook

Our economy is shrinking and we can’t avoid that.  This was the hard truth Canada’s Finance Minister delivered in her November 3, 2022 Fall Economic Report and Mini-budget, which was followed the next day with Explanatory Notes to a 169-page Ways and Means Motion that amends the Income Tax Act for new measures.  A brief synopsis of the economic issues follows.  Be sure to request a copy of the Knowledge Bureau Special Report; also enrol now to attend the Nov. 16 Annual Year End Tax Update for in-depth details for professional advisors. 

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The Tax Outlook: Going Up Despite Projected Economic Malaise

Taxes and source deductions will continue to rise despite last week’s grim economic forecasts from the Finance Department. Here is what’s in store based on forecasting in the Fall Economic Report, released November 3.

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Mini-Budget Targets Speculators and Business Owners

New taxes are on the horizon for high net worth individuals. While several new tax measures were introduced in the November 3 Mini Budget, many have been created to propel forward defined economic incentives for businesses.  Of special note: residential property flipping is getting more expensive. A synopsis follows.

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Bill C-32 Continues Pathway to New Tax Provisions

The Finance Minister introduced Bill C-32, Fall Economic Statement Implementation Act on Friday November 4.  Noteworthy is the complex pathway to law:  this document encompasses previously announced measures from the April 2022 budget and finally the date of implementation of the First Home Savings Account.  A synopsis follows; be sure to request a copy of the Knowledge Bureau’s Special Report on the Fall Economic Statement for greater detail.

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Canada Training Credit: Learn Risk Free and with Tax Assistance

Investing time and money into new Specialized Credentials or continuing professional develop is an important undertaking and you want to make the most of both.  That’s why you’ll want to learn more about the tuition fee amount and the Canada Training Credit (CTC) as potential tax assistance when you take a Knowledge Bureau course. 

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