Trade Wars: Why Income Tax Filings Matter More Now

It’s hard not to get caught up in the trade wars saga, and of course it has serious economic repercussions. In times like these, our tax system can help. The federal government has indicated three pillars of support will be enacted, details of which are to come shortly:

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“Anything that you learn becomes your wealth, a wealth that cannot be taken away from you; whether you learn it in a building called school or in the school of life. To learn something new is a timeless pleasure and a valuable treasure.” C. JoyBell C.

Statistics Canada reports that an undergraduate degree costs close to $6200 but according to a new study,  80% of parents don’t know that.  Worse,  most parents are poorly informed about tax efficient ways to save, especially weak on RESP knowledge.  This is a great opportunity for tax and financial advisors to add significant value.

A highly engaged audience weighed in on who should fund post-secondary education as Knowledge Bureau’s August poll asked, in your opinion is it the parent’s responsibility.

It’s fall:  time to ramp up Canada’s economy! Possibly the only good news in Statistics Canada’s August 31 report on Gross domestic product, income and expenditure, for the second quarter 2016, was that Canada’s household savings rate was 4.2%, up from 4.1% in the first quarter.

With all the dreary economic news, it’s not unusual for businesses to hit a bump in the road, something astute professional advisors should watch closely as our guest columist, Andy Fisher, of the Small Business Restructuring practice at Farber Financial Group explains.