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?

Summertime moves make sense for many families, as they can ensure the kids are well established to start in their new schools by fall. The moving process can be hectic, but it also creates lucrative tax deductions – so keep your receipts and documentation to take advantage. Here are seven moving-related tax tips for expense claims that every Canadian needs to know!

Last year, following a bitter public controversy, the CRA re-assessed 2,267 rejected claims from diabetics applying for the Disability Tax Credit (DTC). The good news? Now 1,326 have now been approved – that’s 58 percent! But these Canadians will wait up to 30 weeks for refunds; an issue that has prompted a further Senate response.

The way we work in Canada is changing: statistics show that 20 to 30 percent of the current workforce consists of “gig workers”: freelancers and other self-employed classifications. But that number will rise by 2020. Is it a good choice? Nearly 60 percent of last month’s poll respondents said “yes.”

Volatility is cited as the largest threat to the financial markets and 73 percent of advisors involved in the Natixis Investment Managers 2018 Global Financial Professionals Survey believe this will affect performance. Close to 90 percent believe their primary role is to help clients get through the emotional roller coaster – and their success increasingly hinges on this skillset as economic uncertainty rises.

Having trouble relaxing on your summer vacation? You’re not alone. Two-thirds of Canadians work more than 45 hours a week. Of these individuals, only 23 percent are satisfied with their quality of life, which hinges on work-life balance. It’s also widely accepted that entrepreneurs and business owners work significantly more than the average worker – and that can negatively impact effective leadership and corporate culture when self-care isn’t a priority.

On June 21st the Canadian Securities Administrators (CSA) released a harmonized set of proposals that requires investment industry representatives (registrants) to promote the best interests of their clients and put them first, to improve client outcomes. It’s something most clients would expect of their professional advisors; yet there are several investor protection concerns to address.