Budget Measures Get the Green Light: Bill C-15 Receives Royal Assent
On March 26th, Bill C-15 received Royal Assent. A synopsis of some of the most significant elements of the Bill appear here; provisions that advisors and clients should be discussing when preparing tax returns before the end of April. This includes the fact that the GST/HST Credit has now been replaced – but your clients may not know this. There are new Capital Cost Allowance Provisions for rental property owners, provisions for the disabled and the Personal Support Workers Tax Credit is now law.12 Essential Year-End Tax Planning Questions
Complex new tax rules were introduced for 2018 and 2019. Tax accountants, wealth advisors, and taxpayers will need to follow the “after-tax lifeline” of an invested personal or corporate dollar with 12 planning strategies.
The Complex World of Business Partnerships
Are you considering owning a business with a partner? It’s a great opportunity to hone your leadership skills, especially if you’re making the transition from employment to self-employment. But, you may want to think twice: partnerships can be tricky business.
$110 Million Owing on TFSA Audits
Over the past year, the Canada Revenue Agency has made it a priority to collect on what they’ve deemed to be over $100 Million in unpaid taxes on TFSA investments. But can investors fight back?
Take 2: New Complex Tax Rules, Short Comment Periods
If the date July 18, 2018 rings a bell it should: it marked the one-year anniversary of Morneau’s controversial small business tax proposals. This year, mid-summer tax complexity is again in the news, as Finance Canada released two important new tax documents for Canadians on July 27: the Draft Sales and Excise Tax Legislative and Regulatory Proposals and the Draft Income Tax.
Five Important Details Emerge on the Canada Workers Benefit
Draft legislation that describes enhancements to the Canada’s Workers Benefits, was tabled at the end of July, and the proposals contain five interesting changes which improve access and benefit availability, as outlined in the federal budget.
Deferring Receipt of CPP: Is it the Right Call for Retirees?
When it comes to the Canada Pension Plan (CPP)/Quebec Pension Plan (QPP), most Canadians want to know whether they should take it early, at age 60 or defer it. In fact, this is a great trigger question and a core part of the discussion and a core part of the discussion about a pre-retiree's financial strategy. Yet it is surprising how few advisors drill down on this complex, and often uncomfortable decision.
