Tax Avoidance, Financial Stress & Well Being
Earlier this month, Statistics Canada published a report titled Stretching the Loonie: a time series analysis of financial difficulty and quality of life. The report is based on a nation-wide survey and the results are concerning. They reveal a serious trend and it is possible this is contributing to the late filing trend we are seeing this tax season.Compliance Alert: Cross Border Taxes, Rights and Regulations
Cross border taxation is increasingly of interest to tax advisors and their clients, particularly if they are US citizens living in Canada. The cost to renounce US citizenship, for example, has recently increased to $2350; while challenges to tax filing compliance have failed, so far.
Top-Rated Speaker at DAC 2015: Craig Dowden on the Power of Empathy
What’s important in building modern financial practices? The top-rated speaker at the recent Distinguished Advisor Conference was someone who focused on the softer side of financial advice—peak performance coach, author, and speaker Craig Dowden, PhD – and his answer to the question was simple: empathy.
Tax Tips: What Expenses Can Employees Claim On The Tax Return?
According to Statistics Canada1, 95% of Canadians age 15 years and older have some form of income. There are over 28 million tax filers and two-thirds of them pay income taxes, on average 16% of total income. Fully 70% of that income came from employees, whose earnings are subject to tax withholdings that employers make on their behalf.
Life Purpose
“Far away there in the sunshine, are my highest aspirations. I may not reach them, but I can look up and see their beauty, believe in them, and try to follow where they lead.” -Louisa May Alcott
An Empowered Presence is at the Heart of True Wealth
We all know people who immediately capture our attention. I’m not referring to people whose physique or loud voice is overpowering and intimidating, keeping us at a distance, but those who have that distinct magnetism that draws us closer.
CRA’s Enormous Collections Policies
In Information Circular, IC 98-1R5 Collections Policies, issued on February 3, 2013, CRA clearly outlines the consequences that will follow if you make the bad decision to ignore their requests for payment. Tax and financial advisors have an important role to play in advising their clients to stay out of this kind of trouble, because the consequences can be swift and financially brutal.
