Red Ink on the Prairies

A day after Quebec’s Finance Minister Eric Girard brought down a Budget featuring a $6.3 Billion deficit, Saskatchewan’s Finance Minister Jim Reiter tabled his government’s budget on March 19. Next up was Finance Minister Adrian Salas, who tabled the Manitoba Budget on March 24. The common thread: there’s lots of red ink on the Prairies. But that’s where the budget documents differ between Manitoba and Saskatchewan. Here’s the latest tax news and why it matters to the advice you give your clients.

A just-released synopsis of the FINRA National Financial Capabilities survey of close to 30,000 Americans from June to October 2015 showed a stunning lack of financial understanding there; at a time when wealth and income inequality is at an extreme not seen since World War II. But Canadians did not do much better.

It’s been a month of turmoil in France, Turkey, the US and even Brazil.  In such times people consider alternative investments, such as gold (traditionally) and bitcoins (non-traditionally), as safe havens.

The province of BC has decided to take the Canada Pension Plan changes to its citizens, rather than signing on to the federal agreement to raise rates and change benefits, indicating it thinks the federal government should do the same.

There’s the old way of doing retirement income planning: how to spend every last dime before you die. (Not very precise, given that we can’t usually pinpoint the day.)  Good thing there’s the new way:  retirement income averaging and layering.

Highly qualified tax advisors are in high demand, not only by their clients but by financial advisors who seek their services and advice.

Knowledge Bureau is taking a short summertime break and would like to remind you that there will be no issue of KBR on July 27 and August 3. Next issue of Knowledge Bureau Report will be published on August 10. Knowledge Bureau would also like to remind you of some key dates to mark in your calendar.