Knowledge Bureau Poll: Tax Cut Doesn’t Cut It!
The Notice of Ways and Means Motion was released on May 27, but the 1% tax rate cut going into effect on July 1, didn’t cut it with Knowledge Bureau Report readers who responded to our May Poll. A decisive 90% of respondents said “No” when asked: does the new government’s promise to cut the lowest personal income tax rate by 1% to 14%, (14.5% in 2025) go far enough to help Canadians impacted by high costs? Here were their comments and suggested alternatives based on real life experiences with the after-tax income their struggling clients are left with:High Taxation Has Implications for Economic Growth
Exactly what is the effect of high taxation on long-term economic growth in a country in which an aging population has limited capacity to pay more tax? It’s an important consideration in light of Finance Canada’s annual report, released on Friday October 19 and this week’s PBO Report.
High-Net-Worth Clients: Opportunities in Wealth Management Services
These are interesting times for wealth advisors, amidst new fall volatility*. While High-Net-Worth (HNW) clients around the world enjoyed investment returns of over 20 percent for the second year in a row, increases in satisfaction levels did not correlate with increased returns. This is especially true in Canada.
RESP: A Key to Closing the Poverty Gap
Statistics show that small children who grow up with the expectation they will take higher education will reach those aspirations, and this is likely the key to breaking the poverty cycle in Canada. The Registered Education Savings Plan (RESP) can help, but governments and the private sector need to do more coaching with parents, because educational aspirations begin with them.
Scaling a Business to New Heights: Are You Up to the Challenge?
If you are in business today, building on what you have accomplished so far can be very exciting. Yet it can also be intimidating, especially if the necessary steps have not been fully thought out and properly planned for, and if you are keenly aware that in the absence of growth comes the peril of mismanaging the equity you have built so far.
The Most Important CE Summits of the Year!
The registration deadline is October 31 for the most important CE Summits of the year! Register while there's still time.
Legalization Creates Tax Ambiguity for Marijuana Users
Today is the day that marijuana officially becomes legal in Canada. Yet grey areas remain, leaving Canadians uncertain and concerned about consequences: from personal and excise tax rules, to medical expense claims, to cross-border and insurance underwriting changes.
