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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?
Planning Required: New Canada Child Benefits Arrive July 20
The refundable tax credits replacing the Family Tax Cut, Universal Child Care Benefit arrive this week. What to expect? Tax and financial advisors could be very busy tending to questions about the whether the size of the cheques is right, and filing 2015 tax returns for delinquent filers.
Tax Cheating on Real Estate scores $14 Million for CRA
Leaked documents from CRA have been reported in China, indicating that 50 tax auditors and 35 additional staff have been deployed to crackdown on real estate tax cheats in Vancouver. CRA confirmed to the CBC that indeed 339 audits have reaped $14 million in tax recoveries in 2015/2016. Here’s how to stay out of trouble.
Financial Capability is Multi-Dimensional; so is Financial Advice
A just-released synopsis of the FINRA National Financial Capabilities survey of close to 30,000 Americans from June to October 2015 showed a stunning lack of financial understanding there; at a time when wealth and income inequality is at an extreme not seen since World War II. But Canadians did not do much better.
Bitcoins and CRA
It’s been a month of turmoil in France, Turkey, the US and even Brazil. In such times people consider alternative investments, such as gold (traditionally) and bitcoins (non-traditionally), as safe havens.
CPP Agreement Delayed: B.C. Wants More Time
The province of BC has decided to take the Canada Pension Plan changes to its citizens, rather than signing on to the federal agreement to raise rates and change benefits, indicating it thinks the federal government should do the same.
