Foreign Currencies Gains and Losses

As we all know, it’s been a roller coaster week in tariff news. The Canadian dollar started to sink, although not to its lowest historical level-yet. The 30 day pause in implementation of the U.S. tariffs has provided a wake up call: What effect will such a Black Swan event have on portfolios and, by extension, retirement plans?

We are pleased to offer our current and prospective students a new way to pay for their tuition fees with Knowledge Bureau, and avoid expensive credit card fees.  E-Transfer is now an available payment option for online studies or in-class add-ons. It’s a convenient option to help you keep credit card balances down, too.

What is the best way for all Canadians to maximize their “economic opportunity” to build wealth? It’s a topic that is increasingly receiving attention both here and in the United States. Good jobs and a minimum income is an important solution, but it’s not the only one. Access to education is critical, too.

The ideals of a top-notch tax system include fairness, equity, simplicity, compliance and ultimately affordability. Are Canadians – across all provinces – experiencing these ideals? It’s a question that is often contemplated by university graduates in deciding where they want to build their careers, as well as executives, business owners and retirees, who consider moving to lower taxed jurisdictions as part of their year end tax planning. Advisors may be called upon to help make those decisions.

A Registered Education Savings Plan (RESP) is a tax-assisted savings plan set up for the purposes of funding a beneficiary’s future education costs. It also serves as a way to split income earned in the plan with the beneficiary, who will be taxed at a lower rate than the contributor, as a general rule, when earnings are withdrawn.

Does the Canadian economy have the resilience to compete through what is projected to be a prolonged economic downturn? Why does the answer matter so much? Because financial advisors, tax preparers, bookkeepers and others in the financial services are being challenged to bring new value to old roles.

Who will inherit the family business? What will it be worth when time for transition comes? Why is this issue so difficult to discuss? It’s important to engage your successful but soon-to-retire business owner clients in strategic planning now, especially if potential economic downturn is on the horizon.