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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?
Knowledge Bureau Comments on Proposed Changes to the VDP
CRA is proposing changes to its Voluntary Disclosure Program (VDP). In response, Knowledge Bureau submitted the following comments for government review in advance of the August 8, 2017, consultation deadline:
Renting Part of your Home? Watch Your Tax Bill
Renting out the basement, or even just a room, in one’s home has long been a great way to tap into an additional stream of income to improve cash flow, enhance savings or reduce debt.
Foreign Asset Reporting
If your clients own assets abroad, they must submit Form T1135 Foreign Income Verification Statement to CRA to disclose whether they had “specified foreign assets” held during the year, if the total cost at any time exceeded $100,000 Canadian.
Manitoba is One Step Closer to a Pooled Retirement Pension Plan (PRPP)
New provincial rules were finalized earlier this month governing the use of Pooled Retirement Pension Plans in Manitoba.
Life Purpose
“The way we communicate with others ultimately determines the quality of our lives.” – Anthony Robbins
