Red Ink on the Prairies

A day after Quebec’s Finance Minister Eric Girard brought down a Budget featuring a $6.3 Billion deficit, Saskatchewan’s Finance Minister Jim Reiter tabled his government’s budget on March 19. Next up was Finance Minister Adrian Salas, who tabled the Manitoba Budget on March 24. The common thread: there’s lots of red ink on the Prairies. But that’s where the budget documents differ between Manitoba and Saskatchewan. Here’s the latest tax news and why it matters to the advice you give your clients.

Gift the gift of knowledge throughout 2019! Make increasing your clients’ tax literacy your 2019 new year’s resolution, and share these essential tax moves and audit-busters that will help them in their dealings with the CRA next year.

It takes 131 hours per year for the average small business to comply with CRA demands, but that’s actually not that bad, comparatively speaking, according to some recent reporting.

There are tax advantages that encourage giving back to the less fortunate this holiday season – it’s a tax gift that keeps on giving. But giving has taken on an interesting trend: not all donations made by charity-minded Canadians are monetary. In fact, Statistics Canada reports that 94% make in-kind donations each year, which includes items like clothing, toys, household goods, or food.

Chenine Humphrey attended the Distinguished Advisor Conference (DAC) for the third consecutive year and shares her enthusiasm for the experience: “There just simply are no bad speakers at DAC. I literally sat riveted at the edge of my seat, gleaning a wealth of information and knowledge throughout the conference!”

What options do your clients have for receiving their Registered Pension Plan (RPP) entitlement, as they approach retirement? The Canada Revenue Agency has just released some guidelines that may help.

Share the gift of education with your clients this holiday season! By discussing the six essential tax tips your clients need to know for 2019 and beyond, you can help Canadians become more informed on the tax-efficient decisions that will improve their financial health in the new year.