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Budget Season 2019: A Provincial Round-Up

Posted: March 12, 2019 By: Evelyn Jacks
Posted in: Strategic Thinking, Current Issue , tax credits, Evelyn Jacks, basic personal amount, refundable tax credits, Manitoba budget, provincial budget, provincial budget 2019, Manitoba Budget 2019, primary caregiver tax credit, pension income amount, veterans well-being act, small business income limit, small business venture capital tax credit, Manitoba book publishing tax credit, cultural industries printing tax credit, film and video production tax credit, manufacturing investment tax credit, expanded fuel tax exemption for forestry, Manitoba Income Tax rates, provincial income tax rates

It’s 2019 Budget Season and there is lots of news. In Manitoba it was particularly good news on budget day on March 7, following B.C. on February 19. Meanwhile our two northern territories, the Northwest Territories and Yukon announced theirs on February 6 and March 7 respectively. What are the details?  Read on! Then, don’t miss the Knowledge Bureau Special Federal March 19 Budget Report next week.

Tax Tip: TFSA or RRSP?

Posted: February 25, 2019 By : Evelyn Jacks & Walter Harder
Posted in: Strategic Thinking , Tax, Wealth planning, investment, TFSA, Evelyn Jacks, rrsp, retirement income, wealth management, income splitting

Is it better to invest your money into your TFSA or RRSP? The answer here isn’t black and white, so we decided to crunch some numbers and shed some light on the grey areas, for those who need to make the choice in anticipation of the March 1 RRSP contribution deadline.

IRS Shutdown: Tips for Canadian Taxpayers

Posted: February 12, 2019 By : Beth Graddon
Posted in: Strategic Thinking , Cross Border Tax, Foreign Tax Credit, IRS, U.S. tax, snowbird, student, 1040NR, IRS shutdown, Foreign Investment in Real Property Tax Act, FIRPTA, U.S. buiness

The Internal Revenue Service (IRS) is operating again after a lengthy shutdown of the U.S. federal government that began in December 2018.  A tentative deal was negotiated* late on Tuesday to avert yet another one. Still, Canadians with cross-border tax obligations should understand the specific implications of government shutdowns - like that of the IRS - and the backlogs they cause, and plan accordingly with their tax filing specialists.

Do No Harm: Advisors Need to Know Corporate Tax Planning for 2019

Posted: January 15, 2019
Posted in: Strategic Thinking , tax preparation, Small Business, tax filing, tax forms, entrepreneur, business tax, passive investment income, TOSI, Tax on Split Income, tax education for business owners

A newly updated certificate tax course focused on the dramatic changes to tax planning for corporate owner-managers is launching today. It’s so important that its updater, Dr. Dean Smith of Cadesky Tax says that advisors who do not understand these rules may very well cause harm to their clients. Here’s why:

Your Feedback Needed: Proposals to Restrict Referral Arrangements

Posted: December 04, 2018
Posted in: Strategic Thinking , Financial Advisor, IFB, Independent Financial Brokers, CSA, Canadian Securities Administration, investment advisor, Client focused reforms, Referral Arrangement Restrictions

The Canadian Securities Administrators (CSA) have proposed restrictions on fees related to referral arrangements. The Independent Financial Brokers of Canada (IFB) wants to better understand the impacts of these proposals and has asked for the participation of financial services professionals in a survey, which is open to both IFB members and others in the financial services industry.

Lack of Risk Management Understanding Creates Opportunity

Posted: November 06, 2018 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , Financial Advisor, investment, poll results, relationship management, risk management, poll, risk assessment, year-end investing, communication strategies, investment advisor

The markets have been experiencing more volatility lately and Knowledge Bureau Report’s October poll has uncovered an important opportunity for wealth advisors within the fray. The majority, 89.01 percent of respondants, told us that Canadians don’t understand their capacity for risk-taking – which is measurable - and this affects their level of risk tolerance when markets fluctuate.