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.   

Tax and financial advisors are in agreement—the Canada Revenue Agency’s audit practices are more aggressive than ever. Now that the deadline has passed for filing 2017 personal income tax, it’s already time to prepare your clients for success in the 2018 tax season. Knowledge Bureau offers the education and support you need to mitigate the tax-audit risks that could cost you and your clients, and maximize their benefits and deductions.

Do you have leadership goals, despite your experience? Do you want to continue to develop as a more effective leader as you grow your career and build your business? There are now three new ways to do so, all in one exciting program.

Media giants like Facebook and Google heavily influence the resources available to internet users and it’s creating skepticism among Canadians who are questioning whether they can trust that they’re finding valuable, accurate information to guide their important financial decisions, and rightly so. This environment of doubt and uncertainty is an opportunity for astute tax and financial advisors to shine.

The federal government has pledged to put $7 Billion in funding into childcare support, and some provinces intend to add more. Do you think this is a good idea? Statistics Canada released data in October 2014 focusing on who uses childcare in Canada, which may impact your opinion. Weigh in and share your thoughts before this month’s poll closes.

The April 30 tax filing deadline is fast approaching. If you experienced any major life changes in 2017, make sure these are reflected in your returns, as they could impact the size of your refund or subject you to an audit. Read on to learn what these events are, and how you should handle them – before it’s too late!

Medical expenses are among the most commonly overlooked tax provisions. But, it’s important to pay attention to unreimbursed medical expenses and to claim them, as they can be used to reduce taxes payable. Don’t miss out on these deductions! Before you file your 2017 tax return, use this checklist of often-missed allowable medical expenses to your benefit.