December 2024 Poll

Should the $250 Working Canadian Rebate be passed into law to provide tax relief to individuals with working net income under $150,000, who also contribute to the CPP?

Business owners who received the Canada Emergency Business Account (CEBA) loan and have not yet repaid it will likely be aware of a small extension in the required repayment date.  The loan was due on December 31, 2023 in order to preserve the forgiveness of a portion of the loan. The date is now January 18 or for those who are refinancing to make the payment, March 28.  However, there is a devil in the details to pay special attention to:  the December 31, 2023 deadline still applies for some. For others a missed interest payment could throw the forgivable portions offside.

The term "Snowbird" refers to a person who is ordinarily resident in Canada but spends part of the year in the U.S.  There are a significant number of such individuals. It is estimated over a million Canadians travel south for the winter – mostly between the ages of  50-69 - to popular sunny states like Florida, Arizona, New Mexico and California as well as other sunny destinations in Mexico, Panama and Costa Rica. Many businesses cater to such individuals in Canada and in the foreign countries they visit and buy properties in.  This is especially true of tax, legal and financial advisors, too, because there are costly tax traps to avoid.  

There is a lot to consider this upcoming tax season when it comes to filing personal returns and increased risk for investors and owner managers. Are you prepared to help? Take a duo of CE Summits with Knowledge Bureau this November and January and get the tools you need to help a variety of client profiles. Plus, you save on tuition with a Duo CE Summit Event Pass!

Now is the time to get ready for tax season 2024 by adding Distinguished Master Advisor (DMA™) to your own Specialized Credentials, or expand the talent in your office to grow your firm. Choose from 3 recommended Designation Programs.

Want to get your blood pumping and your imagination soaring?  Join the Society of Real Wealth Managers™ us for an open conversation about what’s holding us back in making transformational change in your industry.  What does it take to break free?  No cameras, no recordings, just an opportunity to speak plain truth and brainstorm for proactive change for the future, while learning more about Real Wealth Management™ from the people who practice it daily over brunch at DAC 2023!

Picture this, you’re in a rush so you check your driving app to find the quickest route to your destination. You’ve got the car packed and you are on your way.  The drive is going well, and you are on track to make it to your destination just in time; that is, until you hit a couple of construction detours.As you sit in traffic, you wonder why the app sent you down a road that wasn’t ready for traffic? This is the feeling many taxpayers and their advisors are having as they try to comply to file form UHT-2900 by the October 31 deadline this month.