Helping First Nations, Inuit and Metis with Tax Filing

The Canada Revenue Agency is trying to reach out to Canada’s First Nations, Inuit and Metis to encourage them to file their tax forms on time and could use your help to make sure these communities get all the tax benefits they are entitled to. But filing tax returns are not always easy, especially when there is income on and off the reserve.

“We cannot hold a torch to light another’s path without brightening our own.”  Ben Sweetland

Employees who earn their living negotiating contracts for their employers or selling on commission may claim certain itemized sales expenses.  In all cases, however, receipt keeping is key; as is the availability of employer-signed Form T2200 Declaration of Conditions of Employment in case of audit.

A Federal budget date is expected soon after Prime Minister Trudeau and Finance Minister Morneau return from this week’s meetings with the new U.S. administration.

Which Canadian age group has the best credit scores?  Which has the worst?  What is yours and how can you improve it?  Knowing what is in your credit report is important.  If you have a poor credit history, it could be harder for you to get a credit card or a loan.  It could even affect your ability to rent a house or get hired for a job.

Several new tax filing changes should be noted by advisors working with Canadians who have assets in the United States or U. S. citizens living in Canada.

At a time when governments are more closely monitoring changes in global GDP growth, the effect of protectionism, rising commodity prices, currency fluctuations and sluggish business investment and their effects on the long-term financial well-being of Canadians, the 21st century wealth advisor needs to better understand the strategy behind the tax efficient investment recommendations made to the families he or she works with.  That’s the key reason why attendance at DAC is critical to your success.