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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?
Tax Efficient Ways to Obtain Funds from Your Small Business
Small businesses are critical to the health of the Canadian economy. According to a recent study by the Government of Canada, small businesses (1-99 employees as defined by the Government) represented 97.9% of all enterprises in Canada. According to the same study, these businesses employed 8.4 million individuals in 2019 or 68.8% of the private labour force. In addition, small business contributed 41.9% to the Gross Domestic Product generated by the private sector in 2016. Now that we are in past-pandemic mode, understanding the needs of small businesses will pay off in better tax and financial planning solutions.
Tax Avoidance Versus Tax Evasion
You may ask yourself, what is the difference between tax evasion and tax avoidance?
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Need Answers to Tax Question? Expand Your Toolkit
No time to wait for hours on hold with the CRA? Expand your tax season toolkit with Knowledge Bureau’s suite of immediately implementable tools including EverGreen Explanatory Notes and the Knowledge Bureau Tax Planning Calculators. These tools are designed to provide you with answers to trigger questions your clients have about tax efficiency and the important financial decisions they need to make.
Basic Rules on Interest Deductibility
With recent interest rate hikes in the news, taxpayers will have more questions about the deductibility of interest costs. Exactly when is interest fully deductible as a carrying cost or a business deduction? When does it form part of the capital cost of the property? Finally, when do new legislative proposals recently released by Finance Canada begin to restrict interest cost deductibility and for whom? Here’s what you need to know to have more confident conversations between advisors and taxpayers:
