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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?
Tax Planning: Labour Mobility Deduction for Tradespeople
The April 2022 federal budget, introduced a Labour Mobility Deduction for skilled tradespeople and apprentices who need to temporarily relocate for work and it’s important to advise eligible taxpayers about this before year end so they can find receipts to back up the claims retroactively to January 1, 2022.
Tax Tip: Leaving Canada? What’s Included in the Departure Tax
Canadians, who leaving the country become emigrants, and have to file a final tax return as of the date of emigration must report income for the period of residency and also, a deemed disposition of their taxable assets. This can generate capital gains or losses, which can generate a balance due or in some cases, additional refunds if losses are applied to prior year gains. There are some exceptions explained below.
Is a DMA Accounting Services Specialist The Right Fit For You?
Do you enjoy solving problems, working with numbers and helping others? If so, enrol in a new designation program that will help you kickstart your career, earn more as a highly qualified practitioner and achieve your potential as a confident leader. Become a Distinguished Master Advisor by taking the new DMA Accounting Services Specialist Designation Program.
The Dark Horses – Find them at the Advanced T1 Tax Update
The Dark Horses are coming: little known tax facts and tips ordinary advisors never tell their clients about. It makes a big difference in the after-tax result! December 15 is the beginning of the Early Registration Deadlines for the Advanced T1 Tax Update, featuring three training options in 2023:
Canada Dental Benefit: Now Open and Accepting Applications
Did you know that in Canada, a third of people do not have dental insurance to get the dental care they need? Starting on December 1, eligible Canadians were allowed to apply for the Canada Dental Benefit. This is the first-ever federal dental-care program, but it comes with fine print and potential auditing if incorrectly applied for. Here’s what you need to know to tap into the program, which allows for dental expenditures to be claimed back to October 1, 2022.
