Red Ink on the Prairies

A day after Quebec’s Finance Minister Eric Girard brought down a Budget featuring a $6.3 Billion deficit, Saskatchewan’s Finance Minister Jim Reiter tabled his government’s budget on March 19. Next up was Finance Minister Adrian Salas, who tabled the Manitoba Budget on March 24. The common thread: there’s lots of red ink on the Prairies. But that’s where the budget documents differ between Manitoba and Saskatchewan. Here’s the latest tax news and why it matters to the advice you give your clients.

June 30 is an important date. Knowledge Bureau Professionals graduate with new skills and specialized knowledge. It is what differentiates you from others. If you are a Designate, June 30 is also an important deadline: it’s time to submit your required Attestation to your standards of conduct, and meet annual CE requirements… with some exclusive tuition offers!

In order to get pandemic relief benefits in the hands of Canadians quickly, the government (through ESDC and CRA) issued relief benefits to anyone who applied and indicated that they met the criteria for entitlement to the benefits. ESDC and CRA are now following up to ensure that those who were not entitled to the benefits repay them, and it is causing worry.  Tax and financial advisors can help.

CRA has made a mistake on its calculations regarding eligibility for the Tourism and Hospitality Recovery Program (THRP), and as a result, has added modifications to its website .  Be sure your clients who may have missed filed for support, or were previously under the impression they did not qualify, are apprised of the full list of eligible businesses, which appears below:

Assessing risk tolerance and portfolio suitability is one of the most important roles of a portfolio manager.  There are many factors that play into risk tolerance: net worth, time horizon, experience, and comfort with volatility to name a few.

It was close, in fact, a dead heat throughout the month as tax and financial professionals across Canada weighed in on the question “Should the tax filing deadline be extended for all taxpayers to June 15?” And the conclusion is a 50/50 split! Here are some of the reasons from those who participated in one of our most divisive poll questions to date.

Join Kim G.C. Moody, FCPA, FCA, TEP will be taking the live stage at DAC Acuity 2022 to discuss The Speed of Tax Change and what it means for financial professionals and their clients.  In his entertaining style, Kim will discuss the  very complex and pervasive changes that continue be proposed at mach speed.  How do you keep up-to-date to ensure your practice responds appropriately for the benefit of clients?  This session will give straight-forward suggestions to help you navigate this important topic.