November 2025 Poll
Do you believe the November 4 Federal Budget addressed the key financial issues your clients need to see from their Finance Department and the CRA?Expand Your Value Proposition to Business Owners
Estate Planning with Life Insurance is an important cornerstone of family wealth planning, but with recent tax changes, a professional update is required for any tax and financial advisor working with high-net-worth families.
Life Purpose
"The function of education is to teach one to think intensively and to think critically. Intelligence plus character - that is the goal of true education." Martin Luther King, Jr.
Average Refund Is $1678 - 84% File Online
Electronic filing is all the rage in Canada, as close to 750,000 more people chose to file their returns electronically in the 2016 tax filing season, for the 2015 T1 returns. One compelling reason: the average tax refund of $1678 hits your bank account sooner when professionals use EFILE or individuals use NETFILE. Close to 10 million people had those cheques electronically deposited.
Switch Funds and Other Changes Fly Under Summer Radar
In case you missed it, Finance Canada released draft legislation for consultation on July 29, the Friday of the August long weekend. Responses must be received by September 27. Of particular interest to investors: the implementation date for new taxation on switches in corporate-class mutual funds appears to be pushed back to January 1, 2017. And there’s much more than that to be aware of.
It’s Back To Tax School Month: Brush Up On Six Tax Tips
There are several tax credits that students, their parents and teachers should be sure to claim on their 2016 tax returns. Here’s a synopsis of them; the trick is to keep documentation for the claims now.
Knowledge Bureau Poll: Over 80% Prefer TFSA to CPP
In the end, it was a philosophical battle that tested who is best responsible for the future of retirement savings in Canada: only 18.6% of respondants to Knowledge Bureau’s July poll question answered yes when asked, “In your opinion, is the enhanced CPP a better retirement savings plan than putting the equivalent amount of premiums into a TFSA?” The remaining 81.4% voted no—in favor of the tax-paid contributions to a tax-exempt savings vehicle over mandatory, partially deductible contributions to a taxable fund.
