For the week of October 24, 2012

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► Step one: set your goals, says David Christianson

► Economic update: Dispelling global uncertainty

► Evelyn Jacks: New relationship? Beware of tax consequences

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Poll Question: Should governments increase taxes on investment income dividends and capital gains to increase revenues and meet their responsibilities?

DISTINGUISHED PRACTICES: Tips for Real Wealth Managers™: Broader interpretation of transfer pricing

Did You Know? Legislation in both official languages

Tax Tips: How the CRA is helping small business

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Did You Know? Birth registration and Canada Child Benefit applications made easier

Several provincial agencies are following in Manitoba's footsteps and partnering with the Canada Revenue Agency (CRA) to offer new parents a quicker, more secure and more convenient way to apply for child-benefit programs.

Manitoba, British Columbia, Alberta and Prince Edward Island all now allow new parents registering the birth of their children with their respective provincial agencies to give their consent to that agency to send the registration securely to the CRA. The CRA will then determine if the parent and child are eligible for benefits, including the Canada Child Tax Benefit (CCTB), the Universal Child Care Benefit (UCCB), the GST/HST credit and any related provincial/territorial programs that the CRA administers.

The application process is similar for each province. If you are the biological mother, a Canadian citizen or permanent resident and you are primarily responsible for the care and upbringing of your child:

complete and sign your child's birth registration form.

give consent to the provincial agency to share your information with the CRA.

Provide your social insurance number (SIN).

After your child's birth has been registered, the following information will be shared with the CRA:

your name, date of birth, place of birth, SIN and mailing address;

your child's name, date and place of birth and gender;

your child's birth registration number.