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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.

This Week’s Edition of KBR:

February Poll

At a time when 48% of Canadians say they are $200 away from insolvency, do you think reducing tax refunds (last year’s average was $1740 or $145/month) would help?
Yes: 35 votes
25.74%
No: 101 votes
74.26%
 

Cast Your Vote

It’s Here! The Pro’s Tax Season Calendar from Knowledge Bureau

There are 10 key tax filing milestones coming right up in February and March.  Have you discussed them with your clients? Check out the Knowledge Bureau Professional Tax Filing Matrix and nudge your clients along to book appointments in advance of what is sure to be a very busy tax season. Plus, there is still time to train new and returning staff on the changes to the 2019 tax return.

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Form T1206: Understand the Onus of Proof Under TOSI

TOSI, a most controversial provision introduced on July 17, 2017 is now in its second reporting year. As many companies are  preparing T5 slips, dividends distributed from certain professional corporations must be properly reported for non-active members of the family. Tax specialists will want to discuss where the onus of proof lies for proper reporting and brush up on the complex rules and their impact using tax form T120.

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It’s Time for New Home Ownership, But at What Cost?

The home is the most significant asset for many Canadian households. It can bolster personal net worth, and once paid off it reduces future costs of living. Before tax season starts and the RRSP season ends, it’s important to bring this conversation to the forefront for clients like Millennials and Boomers, in particular. Learn why in the first of this three-part article:

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Now Available: Master Your Retirement, 10th Anniversary Edition

Best-selling author Doug Nelson, CFP, CLU, MFA™, RWM™, CIM, is a 27-year veteran of the financial services industry in Canada with a singular vision for his readers:  Don’t just “do” retirement…instead “Master Your Retirement”!  And he has some upbeat advice for those still worried about the one big question all retirees have. 

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Big Issues, Big Achievements, Big Fun at DAC Acuity 2020

The 2020s are starting out in tumultuous fashion. The economic impact of ongoing concerns like climate change, global pandemics, global political risks and local strike actions of various kinds all have impact on financial decision-making. Issues that are much different than decades past require bold thought and bright insights.  For these reasons, Canada’s premiere advisors won’t want to miss DAC Acuity 2020, October 28-30 in Niagara Falls. Early registration discounts end February 15.

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