Canadian Dental Care Plan Renewal Deadline Approaches

Know Your Client!   It’s a daily commitment and requirement, especially in the work that financial advisors do with their clients.   It’s imperative that you ask about any significant changes in their lives. Has there been a significant new event:   a move to take a new job or go to university, a marriage or divorce, a new birth, a disability or a death? And, in the case of income tested benefits such as the Canadian Dental Care Plan, (CDCP) do they qualify?  Did they file their tax return on time to get it?  Do you know the deadlines for doing so?  Do you know when coverage ends if your client now longer qualifies?

As we pause to give thanks for all we have this Thanksgiving; our thoughts turn to how we can give back to our community.  Due to the pandemic, many charities are experiencing a spike in demand for their services, and your favourite charity can use the help even more this year than in other years.

The pandemic has brought a grim reality to personal financial planning:  long term care is fraught with personal health risks. Canadians are worried about the care they will receive as they age, and it’s an issue that tax and financial advisors can help with proactively as part of purposeful year end tax planning. There are three issues to consider.

Do you need to know more about corporate taxes and year end planning for corporate owner-managers? Many personal tax practitioners and financial advisors struggle with understanding the rules for setting up small business corporations, investing within them, and withdrawing funds most tax efficiently. Now, you can have confident knowledge after one day: November 18 at the Virtual CE Summit.

Calling all graduates! If you graduated from a Knowledge Bureau Designation, Diploma or Certificate Course after July 1, 2019, we’re inviting you to attend your Virtual Graduation Ceremony at 9:00 AM CST on October 30. Be sure to RSVP now.  It’s free to attend, and we look forward to honouring your tremendous educational achievements this year.

Get in on the secret and see what’s in the  DAC-in-a-Box!  The first kits have shipped out, and we’re encouraging all attendees to make their big reveal in the Whova event app. Show us what you’re most excited about receiving by sharing a photo; it might just enter you to win a special prize! But shhh…. Let’s keep the secret between us in Whova.  Not registered yet?  Share in the fun: enrol by October 15.  Here’s a sneak peek: 

During these tough financial times, when loan deferrals end and taxes are due, many more Canadians will face financial hardship. That makes the last quarter of the year an important one for proactive client conversations. What can tax and financial advisors do? If the issue is a disputed tax reassessment an important tool is to use the Taxpayer Relief Provisions.