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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?
How Will Extra Income Affect My Guaranteed Income Supplement?
I’m a retired widow. My only income is CPP and Old Age Security. I also get the Supplement but lately I’ve been thinking about going back to work part time, maybe one day a week, as a Greeter at Walmart. How will this extra income affect my Supplement?
Claiming Out-of-Pocket Expenses as an Employee
Employees may claim certain specific expenses of employment on their tax returns, depending on whether the employer will verify this was a necessary condition of employment.
10-8 Plans: Budget Bolsters the Law After CRA Fishing Expeditions Made More Difficult in Court
Today's federal budget proposed to change the law both in respect of 10-8 plans and information required from third parties for the purposes of tax administration or enforcement. Here's the case...
Household Debt Now 165% of Disposable Income
Household debt in relation to disposable income rose to another record last quarter, and many are now wondering whether Mark Carney, Governor of the Bank of Canada, was correct to assert that families are listening to his warnings about the risks of borrowing too much.
Prescribed Interest Rates Remain Unchanged in Second Quarter
The CRA recently announced that the prescribed interest rates for the period April 1 to June 30, 2013 will remain unchanged from the previous quarter.
