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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 new government’s 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? What are alternatives in your view?
October 14: Expect a Treat in your Bank Account
For taxpayers who filed a 2021 tax return in Alberta, Saskatchewan, Manitoba or Ontario a second Climate Action Incentive Payment (CAIP) will be in your bank account on October 14. Those who did not file a tax return yet, should get on it, as the CRA is not paying interest if you are claiming these rebates late.
Seniors to Get Another Raise in October
Old Age Security (and the Guaranteed Income Supplement) are updated quarterly according to changes in the Consumer Price index. With inflation running at close to 7%, OAS, which was indexed by 2.8% in July, is expected to increase another 2.8% in October.
Update on Alberta: Province is Reintroducing Indexation
In 2019, the Alberta government paused the indexation of personal amounts and tax brackets. The effect of no indexation is an annual increase in taxes because wages tend to increase with inflation causing higher taxes to be levied on individuals. Here’s a look at the new brackets and rates:
The Speed of Tax Change - How to Protect Your Clients
Prepare to defend your clients against tax risk emanating from increasing CRA audit activity. Then, take a detailed look at the long and convoluted road to tax change that has resulted substantive change in how your clients report income, deductions, credits and exercise their appeal rights. Knowledge Bureau’s new Audit Defence Course is now available online and features interesting perspectives from some of Canada’s leading tax experts. In focus: independent business owners, which could include you.
Year End Tax Planning for Investors and Owner Managers
This year, the year end tax planning opportunities to build and preserve wealth are most important for investors and business owners swooning under the speed of change. Join Evelyn Jacks, Alan Rowell and Dr. Dean Smith for a vibrant and comprehensive year end tax planning update at the Virtual CE Summit, November 16. Here’s what’s on the agenda; register by October 14 for early bird savings. Tuition is tax deductible and qualifies for CE Credits.
