Why Economic Growth is Job #1

It’s provincial budget season, with a federal election coming up soon. What should Finance Ministers in Canada be focusing on to try to meet the tariff winds head on and ensure the standards of living of Canadians going forward in a proactive way? The answer is to focus on economic growth. What is it, why is it important to consumers and voters and how do we measure that?

The pandemic has disproportionately affected older disabled people, with those aged 60 and older accounting for one-third of COVID-19 cases nationally, according to Statistics Canada.  Tax and financial advisors can do much to help with the financial costs that flow from this, by ensuring that those who may qualify for the Disability Tax Credit for the first time, act now to get a T2201 form signed by a medical professional. 

New Knowledge Bureau Designate, Candice Jay, CIM, FCSI, MFA-P™ has some exuberant advice for financial professionals who are looking for new ways to re-engage their enthusiasm during the pandemic marathon:  always be curious and dive into life-long learning!  Her engaging interview about her new credential as an MFA-P™ (Philanthropy) follows:

Join Knowledge Bureau President, Evelyn Jacks and Special Guest Instructors at the next Virtual CE Summit on November 18. This comprehensive virtual workshop also features a thorough online course:  everything you need to know to thoroughly understand the opportunities for tax, investment and estate planning both inside and outside the small business corporation.

Did you know that we give you the option to try out online courses before you enrol? Get a feel for our curriculum by enrolling in a free course trial.

Much to the relief of small business owners, the New Canada Emergency Rent Subsidy, announced 9 days after October rent payments were due, brought rent and mortgage support directly into the hands of business tenants. There was more good news, too. A new forgivable loan for businesses affected by the second wave of this pandemic was also introduced.  Here are the details:

Good news on the labor front in Canada:  the unemployment rate dropped to 9.0% in September, down from a high of 13.7% in May.  Further, the September Labour Force Survey released October 9 for the week of September 13 to 19, reported fewer people receiving the Canada Emergency Response Benefit (CERB) , EI or the Canada Emergency Student Benefit (13.5% down from 16.1%) and that the employment rate rose 2.1%.  So, what’s the bad news?