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All items tagged with: Canadian economy

Addressing Unfair Tax Changes, Morneau Makes a Second Attempt at Tax Reform

Posted: October 17, 2017 By: Evelyn Jacks
Posted in: Strategic Thinking , knowledge bureau, Evelyn Jacks, Small Business, Canadian economy, finance minister, income splitting, tax education, financial education, tax reform, entrepreneur, CE summits, Liberal government, Morneau, income sprinkling, unfair tax changes, Distinguished Advisor Workshops, Trudeau, reasonableness test, private corporation taxation, family businesses, small business tax rate

The Finance Department backtracked on a few of their controversial tax reforms for private corporations this week, adding a tax cut of $2.9 Billion over the next five years to douse the flames of discontent. However, family businesses will continue to face tax risk and uncertainty due to a “reasonableness” test – albeit a simplified one – that will limit income sprinkling to contributors of labor, risk or capital in the business.

It’s Official:  Government Is Moving Ahead with Tax on Passive Income

Posted: October 17, 2017 By: Evelyn Jacks
Posted in: Strategic Thinking , knowledge bureau, Evelyn Jacks, Small Business, Canadian economy, finance minister, income splitting, tax education, financial education, tax reform, entrepreneur, CE summits, Liberal government, Morneau, income sprinkling, unfair tax changes, Distinguished Advisor Workshops, Trudeau, reasonableness test, private corporation taxation, family businesses, small business tax rate

Finance Minister Morneau today announced that his department will move forward with their goal to tax passive investment income earned within private corporations.  What’s becomes apparent from the minimal details released, is that not much has changed in the government’s intentions, since the measures were first floated on July 18, 2017.

Advisors Addressing Impact of Rising Interest Rates on Canadian Families

Posted: October 17, 2017 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , Debt Management, Financial Advisor, knowledge bureau, interest rates, Evelyn Jacks, mortgage, tax courses, Canadian economy, wealth management, tax education, tax professionals, CE summits, consumer debt, credit card debt, debt in Canada, debt management courses

The average Canadian with debt could have to pay an additional $130 per month for debt repayment, as interest rates are anticipated to rise over the next year. Advisors can help clients adjust to these changes – but what is the best strategy?

It’s Over 50% - Top 3% Pay More Than Their Fair Share

Posted: October 10, 2017 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , CRA, Financial Advisor, knowledge bureau, Evelyn Jacks, income tax, Small Business, tax courses, Canadian economy, wealth management, tax changes, tax education, financial education, tax reform, Liberal government, Morneau, Canadian Controlled Private Corporations, unfair tax changes, tax fairness, federal income tax, middle class taxation, entrepreneurs, CTF, high-income, government issues

Amidst calls by the federal government to improve “tax fairness,” a report by the Canadian Taxpayers Federation (CTF) shows that while a mere three per cent of all tax filers earn $150,000 or more, they contribute over one-third of all federal income taxes collected.

Advisors Get Investors Better Returns, Global Report Finds

Posted: October 03, 2017 VIA: Knowledge Bureau
Posted in: Strategic Thinking , Financial Literacy, knowledge bureau, TFSA, Evelyn Jacks, rrsp, financial advisors, Canadian economy, wealth management, wealth managers, tax education, financial education, value proposition, high-net-worth clients, Real Wealth Manager Program, World Wealth Report, millionaires, investment success, stock market, investment returns, portfolios

There are more millionaires in the world than ever, according to Capgemini’s World Wealth Report 2017, and those whose portfolios are overseen by wealth managers achieved robust gains of 24.3 per cent on average — far exceeding benchmark performance.