The Importance of Provincial Budgets: Elbows Up and No Bracket Creep!
Some of the right things are happening in Nova Scotia, from the perspective of improving standards of living in that province. And that’s important news because according to the Fraser Institute, Canadians have suffered the worst five-year decline in their standard of living over the 2020-to-2024 period since the Great Depression. It notes, our Gross Domestic Product (GDP) per person decreased by 2.0% (0.4% annually) ; this despite aggregate GDP growth of 1.5% over the period. Further, all ten provinces are experiencing stagnation, which is unique in our history. So what’s the good news in Nova Scotia, at this critical juncture?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.
Tax Extension Deadlines: Should they be Permanent?
Tax professionals typically take the stance that Canadians should file their taxes ASAP, especially to get a tax refund, qualify for refundable tax credits and reduce interest costs on balances due. But an interesting phenomenon occurred in our last poll, when we asked: “Do you like the federal government’s tax filing and balance due extensions to June 1 and September 1, respectively?”
The Personal Pension Plan – Is It Too Good to Be True?
Knowledge Bureau is pleased to announce the publication of a new certificate course, Personal Pension Planning For Corporate Owner-Managers, by JP Laporte, CEO, INTEGRIS Pension Management Corp and Mark Taucar, CFA, Porfolio Manager, Accilent Capital Management Inc. The PPP® offers many legal features to protect small business owners and their family in these challenging times, and for these reasons every financial advisor needs to know more about this plan.
Staring it Down: The Family Business Time Bomb
We couldn’t have predicted the devastating economic effects of the pandemic on small businesses when we wrote the book, Defusing the Family Business Time Bomb. But if there was ever a time for families to address the issue of what to do next in guiding their business out of stormy waters, it’s now. This is the book to help you and your clients through it. Here’s how my co-author, Jenifer Bartman describes the opportunity:
