This Month’s Poll
Do you agree with the government’s plan to introduce the new Canada Groceries Essentials Benefit (CGEB)?Important Year-End Tax Deadlines
There are some important deadlines to remember before this tax year comes to a close. Of course, there are the usual suspects, including the cut-off to make year-end donations and receive a donation receipt; the instalment payment deadline for farmers and fishers; and a new one this year for CERB repayment. It’s an issue that has already caused many Canadians stress and confusion. Here’s a summary of salient tax deadlines remaining for 2020:
2021 Tax Filing & Investment Planning Milestones Checklist
Tax and financial advisor, now is the time to help your clients set their new year goals: and here’s a 2021 tax filing and investment planning milestones checklist to help with the process.
Mark Your 2021 Educational Calendar
Now is the right time to plan your professional development opportunities and earn CE credits in 2021. Explore your options with our new interactive Calendar of Educational Events 2021 and reserve your time to get your world class financial education in place.
CERB & CERB: Definition of Income Explained
There are many definitions of income on the tax return and understanding them makes a big difference in your relationship with the CRA, as many CERB recipients have recently found out. Over 440,000 “education letters” have been sent to recipients warning of repayment requirements before the end of the year. It continues to beg the question: what exactly is the definition of “income”?
CPP-TFSA-Considerations
Last week, we discussed the pros and cons of continuing to contribute to the CPP when compared to a TFSA instead. This week, we discuss planning opportunities for taxpayers under and over age 65.
Employee Life and Health Trusts
Since 2009, the government has worked to create a new Employee Life and Health Trust to replace Health and Welfare Trusts. Last month, new rules were proposed to allow for the transition of Health and Welfare Trusts and permit for the rollover of assets, so that one set of rules can be applied to both. In addition, new “designated employee benefits” and relaxed restrictions for “Key Employees” were introduced. An overview follows:
