When a Bonus Comes with a Tax Bill
You probably don’t have any clients who have received a US$12.25 bonus. But that’s what Toronto Maple Leafs star John Tavares received when he signed with the club. In August, Tavares appeared in court, to fight an $8 million tax bill. $1.2 million of that amount is interest which CRA says he owes.
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One Week Away: Prepare for Today’s CRA Audit Environment
What’s changing at CRA? Who is at greater risk of an audit? What can CRA demand, and how should you respond when an assessment is wrong? In just one week, the September 23 CE Savvy Summit: Audit Defence Management brings together Evelyn Jacks, Ruth Horst and Kim G C Moody for a comprehensive update on the issues tax professionals need to understand to prepare stronger filings and defend their clients.
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Protecting Wealth When Clients “Have Enough”: Rethinking the Role of Insurance
For clients who have accumulated significant wealth, the question may no longer be whether they need insurance. Instead, where can insurance fit as a strategic tool to preserve wealth, provide liquidity and optimize the resources they already have? That’s the focus of an important insurance planning session at the 2026 Acuity Conference for Distinguished Advisors, featuring Daniel Dessureault, ASA, CEA, CLU®, CFP®, RWM™, MFA-P™ and Melanie Zimmerman, CPA, CA, TEP, sponsored by PPI.
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Elbows Up: The Time for Personal-Corporate Tax Reform is Now
One can’t avoid the messaging of the economic pain to come. Our deteriorating economic relationship with our biggest trading partner will require us to “pivot and prosper” in order to emerge “stronger and more resilient” says our Prime Minister. While exactly how we will do this is still unclear, there is one clear opportunity: for both federal and provincial governments to initiate a significant personal and corporate tax reform in the upcoming fall budget.
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Federal Excise Tax Suspension Extended
With the tariff war with the United States heating up, Prime Minister Mark Carney announced on September 2 that the excise tax suspension will be extended until January 31, 2027. This news provides a measure of relief for the average Canadian family but now is the time to get ready for the inflationary effects of the reinstated tax staring in February – already an expensive month for winter heating costs. Here’s what you need to know:
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