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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.
June 2025 Poll
Are your clients owed money by CRA? As of March 31, 2025, the CRA holds about 10.2 million uncashed cheques totalling $1.7 billion. In your view, why is this happening?
New! Earn a New Certificate in Lifecycle Transitions Planning
Especially for experienced financial services professionals as part of a comprehensive workplace training plan! Earn a new Certificate in Lifecycle Transitions Planning. Choose 15 cool new interactive mini-courses – one hour in length - from a selection of 80 modules. There’s one important focus: to help you engage more effectively in tax-efficient wealth management conversations during this period of significant – and potentially expensive – tax change in Canada. Here’s what you need to know:
Investigative Tax Prep: Top Ten Changes to Probe
Tax season 2025 has started with a focus on the increased income levels some taxpayers may report due to proposed changes in capital gains tax laws. But aside from this there are new questions to probe with clients to ensure the family’s tax returns are filed to their very best benefit, given change in their life and financial events as well. Here are top 10 queries to add to your interview checklist:
CRA Relationship with Business Owners: It’s Now Digital
CRA has put business owners and their representatives on notice that starting in the spring of 2025 their relationship is a digital one. Specifically, CRA will transition to online mail as the default for business correspondence through the My Business Account portal, rather than communicating through the mail. That could mean two things for professional tax advisors: an increase in business from small business owners who want them to the digital relationship for them and second, extra vigilance for communication exchanges for those who Represent a Client.
Student Loan Forgiveness
Each year Canada writes off millions in unpaid student loans. This is a generally under-reported story but the money we, as Canadians, lend to students and never see again is significant, as explained below. Further, in an effort to ease the burden on students the government eliminated interest on student loans in 2023. Despite the government’s best efforts to make repayment easier, defaults continue. This year, though, the federal government is pivoting to provide some new incentives.
Register Now for Rookie Tax School: Jan 29!
In this CE Savvy Mini Summit half day live virtual event, participants will learn how to confidently file simple tax returns at a high level. This event is part of a 4-part training series with a focus on how to file the T1 tax forms and is ideal for new, rookie tax preparers, financial advisors who interact with clients who have tax-related questions and anyone new to tax filing in Canada. As part of this training program, you are automatically enrolled in Canada’s Income Tax Fundamentals Course. Check out the agenda and register now to upskill your team before the upcoming tax season!
