Bill C-31: Royal Asset and New CRA Powers Could Come Soon
Changes are coming to the Income Tax Act and both you and your clients will all be affected with new tax risks including longer tax audits. Bill C-31, which passed second reading in the House of Commons on June 3 and is now at committee stage, contains elements of previous Federal Budgets that will expand the CRA’s compliance and enforcement powers. Here’s what you need to know and pass along to your clients:Retirees Returning to the Workforce: Understanding Employment Trends and Debt
One third of Canadian retirees are in debt to the tune of $19,000, on average. In fact, more retirees are returning to the workforce to address these debt levels and improve standards of living later in life. Now more than ever, especially with interest rates on mortgages and tax debt rising, addressing debt management is an integral part of professional tax accounting and financial planning services.
U.S Tax Reforms and NAFTA: They Impact Canadian Taxpayers
Is it still a good idea for snowbirds to own property in the U.S.? Do you have clients who have children studying in the States or a son or daughter marrying a U.S. citizen? How will Canadian small business tax reforms co-mingle with the most significant U. S. tax reform since 1986?
Calendar of Educational Events 2018-2019
MAY 2018 – Evelyn Jacks, President of Knowledge Bureau, and special guest experts will discuss tax-efficient planning for investors, retirees, cottage owners and private corporations at CE Summits held in four cities. Enrol by May 15. Or, begin convenient new online programs to improve your credentials. Great tuition savings for those who enroll online by June 15, or call us toll free for help: 1-866-953-4768.
Guaranteed Basic Income in Canada: Taxpayers Beware
A nationwide initiative that would provide Canadians with a base guaranteed income is under consideration. It’s a move with polarizing opinions, with many citing an increased burden upon taxpayers to fund the program.
After April 30: Tax Deadlines for Snowbirds, Proprietors and Investors
It’s the season when many Canadian snowbirds who spend the winter in the United States return to Canadian soil. Timely, as there is also an essential tax deadline for these individuals coming up soon. Learn more about this deadline, and other essential dates that tax and financial advisors must address now that the April 30 personal income tax filing deadline has passed.
Poll Results: Most Disagree with Universal Childcare Funding
By a wide margin, Knowledge Bureau poll respondents disagreed with the concept of free childcare for all, as 72 percent voted “no” to the question: Do you agree that licensed day care centres should be fully government funded for children aged 2½ until they are eligible for kindergarten?
