Morneau’s Proposals Wreak Complexity on Canada’s Entrepreneurs

A Special Knowledge Bureau Report: Buried at the height of summer holidays, the Finance Department has released a significantly complex and potentially punitive proposal to change the integration of the personal and corporate taxation system for private enterprises and provided a mere 75 days to provide feedback. 

Life Purpose

"Most people spend more time planning their summer vacation than planning their lives." —Author Unknown

Helping Your Clients with a Mid-Year Financial Review

Now that the rush of tax season is over, how did your clients do? Were they faced with a big tax bill or did they receive a refund? Perhaps they feel as if they’ve had a less than stellar fiscal year, but they shouldn’t feel discouraged. As you know, mid-year is a great time to review financial goals and to make necessary changes now to ensure a better outcome next year. 

DAC 2017: In This Age of Disruption, Our Speakers Will Keep You Current

This year’s Distinguished Advisor Conference marks the fourteenth year of DAC. It’s become a great tradition in the world of financial education, and there has never been a better time than now to attend. At this year’s conference in Kelowna, B.C., our speakers will be presenting information and solutions that are relevant to today’s issues. 

Special bookkeeping considerations: When divorce touches a family-owned business

Here’s a true-to-life case study: Let’s suppose that you, as a bookkeeping services professional, have a client named George, who is the owner-manager of a family-run restaurant. Working with George is his wife, brother, sister-in-law, a couple cousins and his teenaged daughter. While the business is going well, his marriage isn’t. 

People in the News

Grant McPhail, CLU, CHFC, GBA: Wealth Advisor and proud grandpa

Auditor General Finds CRA is Too Slow

On June 16, the Auditor General rapped CRA’s knuckles, stating that their response to income tax appeals and objections is too slow. And since 65% of them are settled in favor of the taxpayer, the CRA needs to work harder at finding ways to solve issues before they go the appeals route.
 
 
 
Knowledge Bureau Poll Question

In your view, does CRA do enough to ensure Canadians understand income tax and GST/HST implications of flipping personal residences? (for example, taxable dispositions require repayment of new housing rebates)

  • Yes
    2 votes
    1.2%
  • No
    164 votes
    98.8%