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While Canada Revenue Agency is under fire for failing to provide timely and accurate information to taxpayers, it’s clear that tax and financial advisors have an important role in filling that gap and in the process demonstrate unique value to their clients as trustworthy resources. But the industry, too, must step up its knowledge in light of increasing complexity.
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According to recent census data from Statistics Canada, the baby boomers continue to live life on their own terms, especially as they approach and surpass the traditional retirement age, but they are working longer, supporting adult children and often they are also in debt. The provides opportunities for interaction with retirement specialists.
Strategic Thinking, knowledge bureau, Evelyn Jacks, financial advisors, wealth management, financial services, entrepreneur, thought leadership, business development, leadership tips, tips for entrepreneurs, small business owners, developing your business, authentic leadership, inspiring leadership, future-proof business, influential leadership, business growth, inspiration, disruptors, business leadership, culture, continuity, disruption, change management, aspiration
Last month we discussed the key disruptors leaders need to deal with in building their businesses to the next level. Scaling up is important . . . but what does that mean? What skills do you need to lead your team through dramatic change and get better results? You essentially have two choices: create a culture of compliance or a culture of collaboration.
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Precise tax knowledge counts: accurate tax preparation is the goal of every professional tax specialist and it is a tremendous value add for financial advisors and their staff who will field hundreds of calls from their clients this tax season. The winter edition of CE Summits Theme – Advanced 2018 Personal Tax Update, coming to six cities near you, begins Thursday, January 18 in Winnipeg. Register today and save on tuition fees.
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The tax take is much more significant than first thought. The Parliamentary Budget Officer (PBO) released a report on November 23, 2017, that suggests the revenue increase from proposed new taxes on passive income earned in a small business corporation will be as high as $6 Billion dollars annually by the time the full effects of the changes are implemented. This is much more than the initial $250 Million figure first suggested by the Department of Finance, and still only a best guess.
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An Auditor General report released last week indicates that the CRA is blocking calls and providing Canadians with inaccurate information, leaving many at risk of severe and expensive consequences in filing their tax returns. This is especially troublesome as Canadian taxpayers bear the burden of proof to justify the entries they submit on their tax returns.