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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:

August Poll

In your opinion, is the new two-tiered Canada Emergency Wage Supplement (CEWS) too complex?
Yes: 51 votes
79.69%
No: 13 votes
20.31%
 

Cast Your Vote

Future Issues May Arise from Simplified CERB Application Process

It’s money that Canadians needed quickly and the government must be commended for their processing over 4 million CERB applications to date, and close to 2 million this week alone. But are Canadians setting themselves up for a significant audit process in the future?  These funds are taxable, and there are additional audit risks that should be a hot topic of discussion for advisors and their clients.

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Got Your Digital Subscriptions? There’s a New Tax Deduction

Here’s a social distancing tax tip:  convert your in-person newspaper delivery into a digital subscription.  If you do, you’ll receive a new tax credit on the 2020 tax return. Here are the details:

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Tax Season 2020: Close to 11 Million Have Filed

The federal government pushed out this year’s tax filing deadlines in order to relieve some pressure on taxpayers, professionals, and CRA staff all coping with the effects of the pandemic. Has tax season slowed down as a result? It doesn’t really appear so when you compare the first month of tax filing season to the most recent statistics released by the government.

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It’s Spring E-Training Time: Hop to Your $200 Easter Treat

It's a different type of post-Easter treat savings! Treat yourself to a new  professional development opportunity.  Available only until April 15. . . when you enrol in a Designation program. We've also waived instalment fees on our EZ-Pay plan.

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Special CERB Report: How to Apply Now

Canadians can start to apply for the Canada Emergency Response Benefit (CERB) this week and there are some new details to be aware of.  Here’s how it will work:

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