Why Economic Growth is Job #1
It’s provincial budget season, with a federal election coming up soon. What should Finance Ministers in Canada be focusing on to try to meet the tariff winds head on and ensure the standards of living of Canadians going forward in a proactive way? The answer is to focus on economic growth. What is it, why is it important to consumers and voters and how do we measure that?New Credentials for CE Savvy Summit Students!
Knowledge Bureau is pleased to introduce a new Diploma in Advanced Family Tax Compliance. This comprehensive program is ideal for experienced tax accountants and wealth advisors who require updating in the latest tax and economic changes from Finance Canada and CRA in order to help clients meet tax filing compliance requirements and family wealth planning objectives. The program comprises of four online courses, 5 chapters each, and 4 virtual CE Summit events.
Practice Management: Future Dividends: Separating Advice from Investments | Michael van Lierop
Studies have shown that advisors typically spend upwards of 30% of their time in any given week dealing with client investments (re-balancing, trades, compliance, admin). What would it mean for you if you suddenly recaptured a third of your week? Image the savings in time and money if you could reduce overhead or re-assign staff to more productive work! In this impactful session with Michael van Lierop and sponsored by New Outlook Wealth, learn how to earn the Freedom Dividend only at the 2024 Acuity Conference for Distinguished Advisors November 10-12 in Montreal.
Updated Course! Budgeting & Forecasting for Small Business
to rethink their approach for managing operations to avoid the unprecedented business closing statistics (refer to prior article this issue). However, paying increased attention to financial performance, profitability, and cash flow to meet obligations on both a personal and business level can matter greatly when embracing challenges in the areas of high interest rates, inflation, supply chain management, changes in consumer expectations, and a tight labour market. Knowledge Bureau’s newly updated Budgeting & Forecasting for Small Business course helps provide the strategic and technical insight needed and you can enrol now!
New 30-Year Amortizations for Insured Mortgages
Effective August 1, 2024, the government will allow 30-year mortgage amortizations for first-time homeowners who purchase newly built homes. For existing mortgage holders who meet specific criteria, “permanent amortization relief” will be available to extend repayment periods for as long as they need to get to the number they can afford to pay monthly. It’s an extension from the 25-year mortgage amortizations previously allowed. However, this isn’t for everyone… there is a significant risk to lifetime wealth creation and must be managed with an eye to interest rates and payment terms to reduce the non-deductible interest costs.
Loss of a Loved one: Charitable Donation Strategies
Did you know there are several options for claiming charitable donations in the year of death that can help to offset expensive tax on the terminal returns? Here is a run-down of six of them.
Poll Results: Tax & Financial Pros’ Tales of Frustration on Recovery of Pandemic Benefits
Tax and financial professionals who answered our July poll question had a majority agreement that it is fair that the CRA started to issue legal warnings beginning in July to recover the more than $9 billion of overpaid pandemic recovery benefits like CERB. The consensus is that Canadians need to pay back the money if they weren’t entitled to it. At the same time, many comments pointed to the need for CRA accountability in the roll-out and administration of these programs. Thanks to those who participated – check out the comments below:
