Canada Needs a Financial Plan
According to a July 23 publication by the Fraser Institute, we are getting poorer here in Canada and the prospects for economic growth are looking grim. This should be of concern to every Canadian concerned about their “real income” – that’s their purchasing power – and by extension - their ability to fund consumption now and for important family milestones in the future: retirements, education and homeownership. It’s grim, but there are practical suggestions for a turn around plan. Here’s a synopsis of the report.Financial Assistants: Ramp up Your Professional Communications Skills
Assistants to wealth managers will gather for the first ever Assistants’ Conference in Toronto on December 5. Knowledge Bureau President, Evelyn Jacks, will be a guest speaker, presenting on How to Ramp Up Your Communications Skills. She will also introduce a new online diploma program designed especially for wealth advisors’ assistants: the Professional Financial Assistant Diploma Program™.
Millions Suffer From Hearing Loss: Year-End Tax Planning Can Help
According to a recently released study by Statistics Canada, people who are socially isolated are more likely to experience a poor quality of life, morbidity and mortality. Loss of hearing has a big part to play in creating that feeling of isolation, particularly for women. Tax and financial advisors can directly help address the issues with some year-end tax planning.
RESP Deposits: Watch Out For Penalty Taxes
If making an RESP contribution is part of your year-end tax planning discussions, be sure to understand the expensive tax consequences of an excess contribution. A subscriber who contributes more than the limits allow will face a penalty tax of 1% per month on the excess amount, imposed under the Income Tax Act S. 204.91(1).