The Canada Child Benefit Increase and Audit Risk

Families receiving the Canada Child Benefit (CCB) may have noticed an increase in their recent payments. Indexing takes place each July 1. Beginning in July of 2026, the CCB will provide families up to $8,157 per child under the age of 6 and up to $6,883 per child aged 6 to 17. There is audit risk that comes with that, however.

Make a difference while you differentiate with new credentials and a collaborative approach to leadership in building your practice and a natural referral network, too, with the Real Wealth Management™ Designation Program. The RWM™ approaches conversations with clients on a deeper level while following a compliant framework that goes beyond KYC and KYP – all to enable greater financial piece of mind. Enrol in the RWM™ Designation Program, only $1,295 for single registrations (save $500) or study with a buddy and your tuition is only $995 each.

If you opened a First Home Savings Account in 2023, you’ll be addressing potentially 3 new lines on the 2023 tax return, several new auxiliary tax forms and a brand-new Schedule 15.  Here is what you need to know:

The federal government announced over $200 million in new rent and emergency shelters support as well as $5 million a year to fund consumer research, investigate and reveal harmful business practices, all as part of its economic plan. Sadly, there was no broad-based tax relief to put money into the hands of consumers.  Here’s what was announced and how filing a tax return before the end of the month could provide more broad-based help instead.

Finance Canada has extended the ban on foreign ownership of Canadian housing for an additional two years.  This will now expire on January 1, 2027. Foreign commercial enterprises and people who are not Canadian citizens or permanent residents will not be allowed to purchase residential property in Canada.  But will this help make housing more affordable in Canada? 

Make a difference while you differentiate with new credentials and a collaborative approach to leadership in building your practice and a natural referral network, too, with the Real Wealth Management™ Designation Program. The RWM™ approaches conversations with clients on a deeper level while following a compliant framework that goes beyond KYC and KYP – all to enable greater financial piece of mind. Enrol in the RWM™ Designation Program, only $1,295 for single registrations (save $500) or study with a buddy and your tuition is only $995 each.

Share the love with your companion or team member and join us in the splendid aura of the arts in the charm of Montreal as you discover new ways to lead with impactful guidance at the Acuity Conference for Distinguished Advisors, November 10-12, 2024.  Early-bird deadline: February 15. Save up to 25% on tuition when you register as a Delegate, Companion or Team Member!