Canada Needs a Financial Plan
According to a July 23 publication by the Fraser Institute, we are getting poorer here in Canada and the prospects for economic growth are looking grim. This should be of concern to every Canadian concerned about their “real income” – that’s their purchasing power – and by extension - their ability to fund consumption now and for important family milestones in the future: retirements, education and homeownership. It’s grim, but there are practical suggestions for a turn around plan. Here’s a synopsis of the report.Newly Updated Course: Provide Expert Help When a Taxpayer Dies
Statistics Canada estimates the deaths in 2017/2018 numbered 142,331, and every single one requires that a final return be prepared and filed. Estate and final returns can be accompanied by a costly tax bill, especially if the client has a significant estate, assets, or savings. That’s where a highly qualified tax specialist comes to the rescue of executors who are responsible for filing the final return of the deceased.
Financial Planning: Debt, Assets and Tax Change in Retirement
Seniors may be grappling with significant financial literacy challenges in retirement. According to a Statistics Canada study released on April 3, 2019, a greater number of seniors are in more debt than past generations, and one of the big reasons is mortgage debt. Together with higher taxes, “new” retirement income planning requires a close look at the net worth statement, followed closely with tax projections to maximize both income and savings.
It’s Sustainable: Canada Pension Plan Outlook
The Canada Pension Plan (CPP) has earned an average return of 11.1% over the past ten years, and as of March 31, 2019, its value was $392 billion dollars. But, with longer life spans and the boomer generation retiring, will that be enough? Here’s a look ahead at how Canadians will fare as changes to the CPP program occur:
Advisors Have a “Complex” Relationship with Digital Disruption
Is digital disruption a threat or an opportunity? We asked tax and financial advisors whether they think it is an advantage in their business, which helps drive value, or a threat to their industry? The answer isn’t entirely black and white for most, but what’s clear is that clients value face-to-face advice.
RSVP Now: Knowledge Bureau Grad Ceremony at DAC 2019
A special gala event will honour Knowledge Bureau’s 2018/2019 designates at the Distinguished Advisor Conference November 10-13 in beautiful Puerto Vallarta, Mexico. Sponsored by Cadesky Tax, this gala event will honour those who complete their designation programs by August 15. Conference registration fees conference will be waived for this year’s designates. Those who finish their diploma programs (marking the halfway point in the designation pathway) tuition fees for the conference will be 50% off.