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How Can You Help Canadians Recover from Financial Fallout?
The true financial test on how well Canadians will weather the financial storm brought on by the pandemic will occur in the months to come. A glimpse into that future is well described in a June 2020 report from the Bank of Canada. It suggests three catalysts, working together, that can lead to successful financial recovery:
Year-End Tax Tip: Time to Buy a New Car?
Should you buy a new car before year end to reduce your 2020 taxes? It’s a good question especially because lucrative new tax rules were put into place for the write-off of most capital assets* on November 21, 2018. Taxpayers can in fact, triple up on the usual first-year tax deductions when they acquire assets in the period between November 20, 2018, and December 31, 2023, and put them into use before 2028.
