Back to School Tax Breaks
Like tax season, back-to-school season rolls around annually with certainty. But in today’s inflationary environment, the start-up costs for getting the family organizing for the school year may seem daunting. The good news is that tax and financial advisors can help clients understand their tax planning options and manage all the receipts that can lead to tax breaks later in the spring during tax filing time. Here’s a primer of topics you may wish to discuss:Keeping Businesses in the Family Through Financial Planning
Statistics show that only 30 per cent of businesses are transitioned to the next generation. However, we’re entering a time when family businesses are going to play a much more integral role in economic growth and development. Why is this, and what does that mean for advisors and tax professionals?
Outstanding Canadian Performers to Headline at DAC
Delegates attending the Distinguished Advisor Conference in Kelowna from November 5-8 will be treated with the opportunity to hear 18 illustrious speakers, including two cutting-edge digital innovation experts, renowned tax experts and leading insurance and investment specialists. They will also be treated to performances by three incredible Canadian entertainers at the DAC150 Gala.
Fall Economic Statement: Low Earners Benefit from Strong Economy
On October 24, 2017, Finance Canada issued the Fall Economic Statement, which forecasts better-than-expected economic growth, at least in the shorter term. The resulting increase in tax revenues have blessed the department with new funds for spending priorities; notably to help families with children and the working poor.
Disability Tax Credits Change Highlights Audit-Proofing
Audit-proofing strategies must be implemented by tax professionals and their diabetic clients receiving disability tax credits in light of the CRA’s new interpretation of the rules.
Decline in EI Beneficiaries Points to a Strong Canadian Economy
The latest numbers from Statistics Canada report a decrease in the number of regular Employment Insurance (EI) beneficiaries, supporting the overall strength of the Canadian economy, reported yesterday by the Finance Minister.
Capital Gains Deduction Part III: Changing the Rules, Again
The federal government has recently back-tracked on their plan to limit access to the capital gains deduction available to shareholders in a family business corporation, and that’s a very good thing, as the proposals would have cost family businesses a lot of money.
