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.Life Purpose
"You learn far more from negative leadership than from positive leadership. Because you learn how not to do it. And, therefore, you learn how to do it." Norman Schwarzkopf
Shore Up Your Tax Knowledge on Offshore Asset Reporting
Year end is a great time to re-engage clients in conversation about financial decision-making, especially for clients with offshore assets who may need to report some of them on Form T1135 Foreign Income Verification.
Time to Lock in Spousal Loans
For several years now, the prescribed interest rate applied to spousal loans has been set at 1%, but that could change if interest rates rise in 2017. Are you taking advantage of the opportunity to transfer capital to a spouse with a bona fide loan at the current low interest rate?
Slim Majority Votes Yes: New CCB Better than UCCB and Family Tax Cut
Knowledge Bureau Report’s monthly poll for October asked: “In your opinion is the new Canada Child Benefit (CCB) better than the combo of UCCB, Child Tax Benefit and Family Tax Cut?” The results were almost evenly split: 52% voted yes and 48% voted no.
Business Financing: More Options for Start-Ups
Short of cash or credit for your business? Year end is a great time to review financing options with business-owner clients, especially if there is a pressing need for a few new assets in the business. There may be value in a couple of options beyond bank financing.
Trusted Advisors: Help Clients Understand How Much Their Business Is Worth
As boomers start inching towards retirement, the conversation about business succession planning needs to be accelerated. It’s a great opportunity to become your client’s most valuable source of thought leadership and information by helping your clients to understand how much their business is really worth.
