CRA Fixed Dollar Penalties Are Rising. . .Soon
The November 5, 2026 Federal Budget proposed to do something may Canadians have lobbied for years: indexation of tax provisions to inflation. While the government is proposing to raise some fixed dollar thresholds in favor of taxpayers, the big win will be on indexing flat rate penalties. Citing that some of these haven’t been indexed since 1927, the Finance Minister felt it was about time. Here’s what you need to know.
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Auditor General: Government Cost Estimates Off by Billions
On November 6, one day after the release of the Federal Budget, the government’s financial statements for 2025-2026 were published. We learned that $4.5 billion of COVID benefits were written off, up from $26 million the previous year, and the potential losses from the Canada Emergency Business Account, or CEBA loans, increased to $5.6 billion in the last fiscal year, up from $5.4 billion previously. Further initial estimates from the Parliamentary Budget Office (PBO) regarding the cost of the Canadian Dental Care Plan (CDCP) have been analyzed by the Auditor General. What do you think was found?
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Seeing Solutions In Plain Sight
Few would disagree with this statement: There are many, many problems in the world today. For many people, just hearing about them again and again on news and social media can be overwhelming. How can we save this world for ourselves and our children? It can all be quite overwhelming, especially for younger people trying to find hope to move on in their future lives. But of course, humans are resilient and the solution to big problems may in fact, be in plain sight. It’s the topic of conversation at the next meeting of the Society of Distinguished Wealth Professionals™ on November 21 in Victoria, with special guest speaker, Mr. Minto Roy.
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Financial Regret: Helping Canadians Avoid It
Most people don’t wake up thinking “today is the day I am going to do my will or buy life insurance or explain to my adult children what my wishes are in case of my incapacity.” Or for many, as burdensome is this: “today I am going to talk to my heirs about transferring my substantial wealth to them, because they have no idea what’s coming.” Yet as tough as these topics may seem, doing nothing has a significant consequence few people consider: Financial Regret. That’s something tax and financial advisors can proactively assist with, and the Real Wealth Manager (RWM™) designation program, in particular, can provide the framework to make these conversations easier. Here’s what you need to know about Financial Regret:
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From Economic Uncertainty to Financial Security: RTN Season 3 Tackles the Issues That Matter
What does Canada's economic future look like? How can investors protect their portfolios, families plan for intergenerational wealth transfers, and financial professionals help Canadians navigate an increasingly complex financial landscape?
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