Did you know? Some Canada 150 financial trivia

Happy 150th Birthday, Canada! We at Knowledge Bureau will be taking some time on this extra-special July 1 long weekend to celebrate Canada’s sesquicentennial, so just for fun, we thought we’d take a look at some financial highlights of the last 150 years.

Interest Rates on Their Way Up? Stay Tuned

The prescribed interest rates set by CRA for the third quarter of 2017, July to September, have followed recent trends: there are no changes for the period except for a new 4.47% rate on an election made by foreign corporations regarding PLOIs, Pertinent Loans Or Indebtedness.

First Act to Implement 2017 Budget Now Law

On June 22, 2017, Budget Implementation Act, 2017, No 1 received Royal Assent and is now law. 

Real Estate Transactions Under Scrutiny at CRA

The penalties have been huge on the over 21,000 files CRA has audited from April 2015 to March 2017: over 885 penalties totalling $17 Million were applied on close to $330 Million in unreported income, mostly in the Toronto and Vancouver markets.

TFSAs: A Tax-Free Gift from the Government

As we approach July 1 and the Canada 150 celebrations, most Canadians who were due to receive a tax refund for the 2016 tax year would have received the funds by now. Be sure to suggest to your clients that they give themselves a big Canada Day gift by using those funds to top up their TFSA.

Life Purpose

“Just because you’re good at what you do doesn’t mean that people are going to want to be on a team with you.” – Marnie McBean

The “Best Ever” DAW Becomes the Cutting-Edge CE Summits!

This past spring, we were excited to receive some of the best reviews we’ve ever had for our series of Distinguished Advisor Workshops (DAW). Here’s what some had to say:
 
 
 
Knowledge Bureau Poll Question

Do you think Canadian provinces should raise the minimum wage to $15?

  • Yes
    196 votes
    44.44%
  • No
    245 votes
    55.56%