All items in: Strategic Thinking

End of an Era: Budget Kills Canada Savings Bonds

Posted: March 28, 2017 By : Daniel Sonkodi
Posted in: Strategic Thinking, Current Issue
The CSB is officially obsolete, killed by the March 22, 2017 federal budget. What effect does this have on investors? Some new planning strategies are in order for planners and clients alike.  But first a little history...

The Disability Amount, a Most Lucrative Tax Credit

Posted: March 28, 2017 By : Knowledge Bureau Staff
Posted in: Strategic Thinking, Current Issue
The Disability Tax Amount, a non-refundable tax credit valued at $8,001 in tax year 2016, can be claimed by someone who is markedly restricted in the activities of daily living on a permanent basis, or by their supporting individual.

New Lifelong Learning Initiatives in Budget 2017

Posted: March 28, 2017 By : Daniel Sonkodi
Posted in: Strategic Thinking, Current Issue
Last week’s federal budget proposed to improve access to education funding with a series of new initiatives including improved access to bonds, loans and grants. Planning for student debt repayment, however, should be a critical first step with students, alongside the application process. Tax and financial planners can be of important assistance.

Prescribed Interest Rates Steady in Q2 of 2017

Posted: March 28, 2017 By: Evelyn Jacks
Posted in: Strategic Thinking, Current Issue
The prescribed interest rates for April 1 to June 30, 2017, remain unchanged on overdue taxes and tax overpayments, and for calculations of taxable benefits and shareholder loans. However, the interest rates on PLOI—Pertinent Loans or Indebtedness—have been changed this quarter.

CRA Wants a Share of the Sharing Economy

Posted: March 28, 2017 By : Knowledge Bureau Staff
Posted in: Strategic Thinking, Current Issue
In the recent federal budget, the federal government continued its commitment to supporting and funding innovation to grow Canada’s economy and build a strong middle class. There is evidence all around us that technology is fueling new enterprises all over the globe, in what has become known as “the sharing economy.”

Investors and Executors:  T3 Slip Deadline is March 31

Posted: March 28, 2017 By : Knowledge Bureau Staff
Posted in: Strategic Thinking, Current Issue
With recent changes to the taxation of trusts, more beneficiaries may find themselves reporting trust income personally, when they are in a lower tax bracket than the trust itself. Executors, too, need to be informed about the best planning strategies. For these reasons, tax advisors must prepare themselves to answer questions about trust filing and planning.