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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?
Helping Small Business with Healthy Births
Professionals in the tax, bookkeeping and accounting industries can add big value to stimulate healthy new births in a new economy. Based on newly released statistics on November 10, professionals could be more proactive in improving survival rates…but how? One way is to formalize business planning, budgeting and forecasting service offerings.
Business Owners: Steer Clear of Trouble with CRA
There are big penalties for businesses who don’t remain above board with the taxman. Fees paid to professional bookkeepers and tax accountants can be well worth it, as a self-employed taxpayer in the construction industry recently found out.
Buying a Car Before Year End?
Should you buy or lease a new vehicle or computer before year end? It’s a great question for financial advisors and their clients to discuss before year end. Canada’s tax system has some excellent incentives for people in the market for buying business assets before year end. Here’s an overview of the provisions that were first introduced with the November 21, 2018 Fall Economic Statement:
Special guest Abe Toews Shares the Virtual Stage at CE Summits
Abe Toews, CFP, CLU, CH.F.C, CHS, Chair of the Board of Directors, Advocis will make a special guest appearance to discuss year end donations strategies as he shares the virtual stage with expert headliners at the November 18 Virtual CE Summit. The theme is focused planning for investors and self-employed taxpayers. Advisors who need to brush up on advanced planning, especially for corporate owner-managers, should mark their calendars and register no later than Monday, November 16.
Deadline Extended: Charity Returns
The deadline for filing Registered Charity Information returns was extended to December 31, 2020 for returns due between March 18, 2020 and December 31, 2020. However, the CRA’s Charities Directorate is also encouraging charities to file as soon as possible to avoid expected processing delays as a result of the high volume of returns that will be submitted around the deadline.
