All items tagged with: interest rates
Posted in: Strategic Thinking, Current Issue , Real Wealth Management, Financial Literacy, DAC, knowledge bureau, interest rates, Evelyn Jacks, Small Business, debt and cash flow management, Canadian economy, wealth management, entrepreneur, online education, NAFTA, Canada's competitivementss, cross-border trade, US, Trump US tax, real estatte market, economic trenda
The IMF predicts that if Canada and the U.S. fail to reach agreement on NAFTA, Canada’s competitiveness could take a serious hit, resulting in a drop of 0.4 percentage points or more in GDP. Donald Trump’s tweets about Justin Trudeau could further dampen the outlook. But, astute financial advisors can help clients meet their goals in these difficult times by staying on course.
Posted in: Strategic Thinking , Debt Management, Financial Literacy, knowledge bureau, interest rates, Bank of canada, Evelyn Jacks, Essential Tax Facts, cash flow management, financial education, reducing debt, financial calculators, online campus, debt consolidation, Canada's debt, steven Polaz, mortgage interest
Canadian personal debt levels are now at such an alarming level, that most Canadians can’t even comprehend the size of the rising figure: $2 Trillion, as of last week. As part of their best interest duties to clients, financial advisors need to broach this uncomfortable subject, as things could get worse in the near future.
Posted in: Strategic Thinking , Financial Literacy, knowledge bureau, Evelyn Jacks, Essential Tax Facts, tax courses, tax education, Introduction to Personal Tax Preparation, CRA penalties, online campus, CRA interest rates, late filing penalties, interest on overdue taxes
Have you filed your 2017 taxes? With only a few days left before the April 30 filing deadline, if you haven’t, now is the time! The CRA’s late filing penalties are significant, and the interest rate applied to overdue taxes recently increased, making delayed filing a mistake you just can’t afford to make.
Posted in: Strategic Thinking , Financial Literacy, CRA, knowledge bureau, Canada Revenue Agency, Bank of canada, Evelyn Jacks, tax courses, inflation, prescribed interest rates, financial education, financial courses, online courses, online education, online campus, overdue taxes, interest rate increase, CRA deadline
With the prescribed interest rate doubling to 2% as of April 1, there will be a significant impact on Canadians who face overdue tax balances with the CRA. It follows that understanding what interest costs are deductible and which are not, is of new interest. This subject is one that qualified tax and financial advisors will be prepared to discuss with clients as we tee up for the busiest month of tax season.
Posted in: Strategic Thinking , Financial Literacy, knowledge bureau, interest rates, Bank of canada, Evelyn Jacks, real estate, tax education, financial education, mortgage rates, mortgage stress test, online education, Office of the Superintendent of Financial Institutions, OSFI, home buyer roles, mortgage down payment, mortgage lenders, buying a home, home financing
Buying a home this spring or approaching a mortgage renewal? May is the busiest time of year for real estate transactions, and you will want to see your tax and financial advisor to discuss the implications of the new mortgage rules and rising interest rates on your after-tax earnings.
Posted in: Strategic Thinking , tax preparation, Financial Literacy, CRA, OAS, Financial Advisor, knowledge bureau, Canada Revenue Agency, interest rates, Bank of canada, Evelyn Jacks, tax filing, old age security, tax courses, tax education, prescribed interest rates, Walter Harder, online education, overdue taxes, unpaid taxes, spousal investment loans
Although these won’t be announced officially for a couple of weeks yet, the prescribed interest rates and Old Age Security payment amounts are expected to change as of April 1. Here’s what we are anticipating, and why that’s so important for investment and debt management planning now: