February 2025 Poll
In your view will the new U.S. tariffs affect your clients’ business and retirement plans?Six Pandemic Benefit Tips: Maximizing the One-Time Tax-Free Seniors’ Benefit
Taxpayers over the age of 65 who receive the new $300 one-time tax free COVID benefit from the federal government should first use it to cover extra charges due to the pandemic including delivery costs, costs of internet and communications charges and more. But those who don’t really need the money can leverage the gift in several ways. Here are our top 6 pandemic benefits tips for seniors:
Provincial Round-Up: Extra Pay for Frontline Workers
On May 7 they federal government announced that they’d give $3 billion to the provinces and territories in total to help with the costs to increase the wages of frontline workers nationally. The amount covers three-quarters of the total estimated cost of $4 billion. It’s up to the provinces and territories to define what they consider an essential frontline worker. Let’s look at what the provinces implemented so far!
Rave Reviews: The Virtual CE Summit and Emergency Pandemic Benefits Response Course
The first ever Virtual CE Summit on May 13 garnered rave reviews. It featured 8 incredible thought leaders who offered cutting-edge guidance on providing clients with sound advice for tough times. Good news: you can still access the incredible online content and take until July 15 to finish your 10 CE Credits. More good news: we’re planning to host another Virtual CE Summit on September 30.
Knowledge Gap Courses: How to Become a Better Virtual Advisor
Your practice is changing, and Knowledge Bureau is here to help with a new series of courses for advisors and their clients who are transacting virtually. The new Knowledge Gap Program has arrived and it offers you a high-value library of short CE courses and new Financial Storyboards that open new virtual conversations. Most importantly, you don’t even need to be tech-savvy, and either do your clients. Here’s why:
Is This the Right Time to Transfer Assets?
When is the last time you reviewed the personal and family net worth statements of a household unit for whom you provide tax or financial services to? If it hasn’t been addressed since the end of March, 2020, it’s time to do so now. Dr. Dean Smith will drill down on losses at the May 13 Virtual CE Summit (be sure to register by May 11). Here is a primer to whet your appetite.
Manitoba Seniors to Receive Senior Economic Recovery Credit
It’s worth repeating: filing tax returns on time can really pay off. About 225,000 Manitoba residents aged 65 and over will be mailed a one-time $200 refundable tax credit cheque in May to help defray pandemic-related costs. But the catch is that you must have filed a 2018 tax return. If you did, you’ll automatically receive the money. Late filers aren’t completely out of luck. But you guessed it; they’ll get it much later.
