Fall Federal Budget: Will Spending Be Cut?

Canada has historically presented an annual budget since Confederation in 1867, even through periods like World Wars and the Great Depression, but we have recently experienced the longest period without a full federal budget in our history. By the time the next one is brought down, expected in October 2025, it will have been 18 months since the controversial April 2024 budget which introduced the doomed capital gains inclusion rate hikes. What can we expect?

Do you have clients who are recipients of German social security pensions?  If so, many of them may be very elderly.  Unfortunately, they and their heirs may be experiencing a new stressor:   the tax department in Germany, Finanzamt Neubrandenburg, is clamping down on taxes they think are owing by delinquent German pension recipients living in Canada and charging interest and penalties. The issue is:  can they?

We have heard a lot about inflation in the last few weeks as the economy gets up and running again, and many people have been feeling stress about this.  This should be a big concern to employers, too, according to the Financial Consumer Association of Canada.    The issue will also be addressed at Virtual DAC Acuity 2021, October 17-19 with special guest speaker Dr. Brian Shaw, a well-known sports psychologist for the Blue Jays and author who has written about stress management for top financial professionals.  Financial advisors can help; here’s what you should be thinking about:

Join Knowledge Bureau President Evelyn Jacks, and guest speakers for a full professional training experience at the next Virtual CE Summit on September 23, 2021. Early-bird registration ends Sept 15.

It was such a hit last month, we’re doing it again:  Speed Networking so save the date: September 8th at 3:30 pm CT.  The Society of Real Wealth Managers’™ invites you to Meet a Real Wealth Manager (RWM™) to discuss ways to collaborate to bring high value care in the best interests of your clients.

The government has promised to increase Old Age Security by 10% for seniors over age 74, but that increase won’t kick in until the July 2022 payments.  However, this month, a one-time payment of $500 (with zero withholding)  will be made to seniors who meet the following criteria:

Have you agreed to be an executor for a loved one?  I just know you want to be ready and informed about what to do when the time comes.  When it is time to ‘be’ the executor, you could very well be feeling the emotions of your loss.  For that reason, amongst others, the time to check into what is involved is NOW!