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?CE Summits Speaker Spotlight: Doug Nelson, Best-Selling Retirement Planning Author Headlines
If you want to help your clients avoid FROM – fear of running out of money – you’ll want to hear dynamic, best-selling author of Master Your Retirement, Doug Nelson B.Comm. (hons), CFP, CIM, MFA™, RWM™ at the November CE Summits. Doug’s sessions are focused on the timely retirement planning issues that impact the work advisors do today in helping investors prepare for a more certain future.
Is Tax on Capital Gains Fair? It Depends
The current scheme of reporting capital gains, by including 50% of taxable gains in income, may be increased to 75% depending on the results of the next election. Does it make sense for the economy and its Canadian investors to do so? Not in the absence of inflation adjusting. Here’s how the math works.
Both Tax Filings and Tax Refunds are Lower in 2019
Individual income tax filing statistics for the 2018 tax year to July 2 show that more than 28.5 million Canadians have filed this season. That’s down from the nearly 30 million last year. So are average tax refunds, which now sit at $1,706 compared to $1,765. It’s an important opportunity for tax specialists to review prior filed returns and find out why, while also discussing several new tax changes occurring in 2019.
CRA Service Consultations: Canadians Really Want Three Things
The CRA launched their “Serving Canadians Better” consultation on April 23, 2019, closing it to commentary on June 18, 2019, in the height of tax season. It wasn’t the best time to hear from tax filing pros, but the feedback proved interesting, nonetheless. Turns out Canadians really want three big improvements from their tax department.
CE Speaker Spotlight: Larry Frostiak Shares Building Blocks for Successful Transition into Retirement
Should corporate owner-managers be removing corporate assets before year-end in defense of the passive investment income rules? How has retirement income planning changed based on new tax laws? Those are just some of the questions you’ll learn answers to at the November CE Summits, featuring special guest tax expert, Larry Frostiak.
Wealth Management: Winning with Capital Gains
Investing in assets that have the potential to accrue in value can come with both risks and rewards. From a tax point of view, a capital gain on those assets has two distinct advantages: there is no taxation on accrued values until disposition (actual or deemed), and only one half of the gains are added to taxable income. Here’s why it’s important to fully understand the advantages:
