Tax and Financial News | Knowledge Bureau

Podcast: Automatic Tax Filing - Will It Work?

Last week Taxpayers' Ombudsperson François Boileau tabled his annual report: In Pursuit of Better Service: Taxpayers Deserve More. once again, it was nothing short of scathing, as CRA received its highest number of complaints in the last three years. Calling our “completely nuts” Income Tax Act a potential barrier, he is nonetheless pushing for automatic tax filing as a potential solution. A new episode of Real Tax News with Evelyn Jacks & Friends available next week, will feature guest Gillian Petit, Ph.D. - author of a great report, Welcome News for Lower-Income Canadians, but There’s More to Do - which takes a deeper dive. Consider the following:

Double Dipping Allowed: Home Modification and Medical Expensees

Is the tax system doing enough to recognize the real and increasing costs of elder care? You may be surprised at the answer as we conclude our analysis of the question this week, reviewing tax credits available to the vulnerable and their supporting individuals.

Back To Financial Basics: Time Matters

Tax and financial advisors can take an important role in the financial education of young Canadians. As we approach Financial Literacy Month this November, it’s important to revisit the role of financial educator. It’s a critical piece of family wealth management that prepares heirs for their future financial responsibilities and brings peace of mind to their parents, too.

Tax Strategies for Financial Advisors Updated to Current Tax Changes

Tax is a trigger for affluent families. They seek credible, trusted, and expert solutions to their investment strategies and expect to work with professionals who can increase returns with tax efficiency.

Advisors in the News: Stay Up-To-Date to Give Great Financial Advice by Richard Yasinski

Richard Yasinski is a DFA-Tax Services Specialist and a Certified Financial Planner (CFP) who offers financial planning on the cutting edge. “What makes our firm unique is that we focus on not just financial planning, but tax planning, estate planning, education planning – all aspects of personal financial planning that I think everyone should be interested in.”

Prescribed Interest Rates Remain the Same – Except for PLOI

The prescribed interest rates for October 1 to December 31, 2015, remain unchanged on overdue taxes and tax overpayments, and for calculations of taxable benefits and shareholder loans. However, the interest rates on PLOI – Pertinent Loans or Indebtedness –have been reduced this quarter.