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

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

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.

Small Business Capital Gains Deduction Part II: Multiplying the Deduction

By issuing shares in a small business to family members, it is possible to multiply the capital gains deduction available to the family. A similar strategy allows for the multiplication of the deduction for family farms or fishing operations.

Life Purpose – Overcoming Obstacles

“Just because you’re down to your last strike, you’re not out yet. You can always do more. You’ll always have more at-bats to take. That’s true in baseball, in rescuing animals, and in life, generally.” - Tony La Russa

T2 Tax Course for Small Business Features Updates on Morneau’s Tax Changes

On July 18, 2017, Finance Minister Bill Morneau released a series of tax proposals which, if enacted, will have severe repercussions on Canadian private family businesses and their shareholders. Tax and financial advisors need to be aware of these proposed changes and understand what impact they will have on their clients before year end. Knowledge Bureau is pleased to announce it has published a newly revised online certificate course in T2 tax preparation and planning to help advisors get up to speed on the impact of these tax reforms.

Advisors Addressing Impact of Rising Interest Rates on Canadian Families

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?

Growing Your Business: Influential Leadership Will Help

No doubt about it:  leadership is challenging these days.  Whether you are raising a child, coaching someone else’s child, directing a team to reach a common goal, or leading your clients towards their financial goals and objectives, the skills you need to navigate change – a leader’s, primary role – are themselves changing.  Your business and career growth, in fact, may depend on your ability to embrace new leadership requirements.
 
 
 
Knowledge Bureau Poll Question

Do you agree with the federal government’s decision to discontinue the sale of Canada Savings Bonds (CSBs) and Canada Premium Bonds (CPBs) as of November 2017?

  • Yes
    105 votes
    66.04%
  • No
    54 votes
    33.96%