Truckers Beware: CRA Audits Coming
Effective December 4, 2025, the CRA has officially lifted the moratorium it has extended in the transportation industry and intends on levying penalties for failure to report fees paid for services for the 2025 tax year and subsequent tax years. Here’s what you need to know:DAC: The Changing Face of Community–Collaboration with Impact
DAC is Canada’s pre-eminent educational event for the top wealth advisors in the tax and financial services.
As an industry and as individuals lucky enough to live in Canada, it’s a great time to work “above our privilege” - that is, to set higher goals, improve services and to give back more in mentorship and engagement to a new client base with vastly different demands of their tax and financial advisors.
Tax Tip: Avoid Clawback of Your EI Benefits
Are you a high-income earner—perhaps an executive, or seasonal construction or oil rig worker—who may suffer a loss of employment? For the 2017 tax year, the base amount for EI repayment is $64,125. The amount is indexed year over year and if you get caught with income over this, you’ll likely be unpleasantly surprised when you file your 2017 return . Here’s why:
A Sigh of Relief Regarding Passive Investment Income: But No Grandfathering
Two new measures were introduced in the February 27, 2018 budget that curtail the advantages of investing inside a private corporation, starting in 2019. All was met with a collective sigh of relief, considering the flawed fall proposals. However, there is still a twist - no grandfathering provisions for private corporations under two new proposals:
