Elbows Up: The Time for Personal-Corporate Tax Reform is Now

One can’t avoid the messaging of the economic pain to come. Our deteriorating economic relationship with our biggest trading partner will require us to “pivot and prosper” in order to emerge “stronger and more resilient” says our Prime Minister. While exactly how we will do this is still unclear, there is one clear opportunity: for both federal and provincial governments to initiate a significant personal and corporate tax reform in the upcoming fall budget.

It’s graduation time – such a wonderful moment of achievement for both the students and their parents! Share these essential tips and guidelines about the RESP with new families who are embarking on the savings journey towards a successful education outcome two decades from now. These are excerpted from the newly released Essential Tax Facts, 2019 edition.

Amy is a graduate of the MFA™-Retirement and Succession Services Specialist program in Ontario. Amy had a special motivation for enhancing her education as part of her own succession planning. Her goal is to take over running her step dad’s tax and financial services business. Here’s her story:

Released on May 16, the Bank of Canada’s 2019 Financial System Review shows a shift in the economic issues that impact the financial future of Canadians. The good news is that household debt levels appear to be easing. However, there are new storm clouds on the horizon,  especially for businesses. The biggest threats: the economic impact of climate change and record-breaking non-financial corporate debt levels.

Investment counsel fees are amounts charged for advice on investments. Some of these fees for investment advice are eligible to be claimed as a carrying charge, a deduction on the personal tax return. However, this is not the case for all fees. Here are the guidelines for advisors to share with their investor clients.

New advisors have an opportunity to set the tone for a positive transformation in the financial services industry, despite fears that a new digital economy continues to replace certain positions. In fact, digital disruption offers up-and-coming millennial advisors a great advantage if they use their strong technical skills along with emerging technology to embellish on relationship building at a critical time of demographic change.

CIBC will be showcasing a new digital banking platform at the Knowledge Bureau’s CE Summits in four cities. The bank has collaborated with industry-leading cloud accounting software companies Intuit Canada and Xero, and payroll software company Ceridian, to integrate accounting and payroll with its powerful online cash management services.