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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.
July 2025 Poll
Do you believe Canada’s tax system based, on self-assessment, has suffered under recent changes at CRA and by Finance Canada? If so, what is the one wish you have for tax reform?
Tax Exempt: Inflation Supports Cause Confusion
Is it reportable or not? Many taxpayers are confused about the various government support programs they have been entitled to in 2022 and 2023. As a general rule, if a support payment is taxable, there will be a T4A or T4E showing the amount to be reported as income. But if any of the amounts itemized below - inflation support measures – were received, they won’t be reportable.
The Future of Tax Preparation: An Endless, Essential Service
It’s true: nothing is as certain as death, taxes and tax change! That’s perhaps why almost 60% of Canadians get someone else to do their tax return, according the CRA. Do you know what this sounds like to us? OPPORTUNITY!
Tax Spotlight: Help Non-Filers Recover Billions
Did you know as many as 1 in 10 Canadians don't file their taxes? Canadians who don't file their income tax returns may be shocked to find out how much money they're owed by the federal government for years of missed benefits. The tax benefits lost to working-age non-filers was about $1.7 billion, according to an award winning research paper[1].
The Global Financial Disruption: Are You Prepared to Help?
President and CEO of Knowledge Bureau, Evelyn Jacks, joins Derek Notman and H. Adam Holt on their podcast, Rethink. Financial Advice, and discusses a variety of issues critical to the future of the tax and financial services industry: what's on the horizon for advisors and how to best prepare for the headwinds affecting us all. You’ll want to take this in.
New T777 Employment Expense Statement Released
The 2022 version of Form T777 Statement of Employment Expenses is available and worth a detailed look. Employees who have a T2200 form signed by their employer may use this form to claim their home office and other expenses. In addition there is a new section for the claiming of the new labour mobility deduction for an eligible tradesperson. Following are tax tips you should take note of in 2022.
