Wildfires: Apply for Taxpayer Relief Provisions

It may not be the first concern, but Canadians affected by wildfires may worry at some point about the tax consequences of lost records or missed filing deadlines – the next one on June 16 for those filing T1 returns with proprietorship income. Fortunately, the CRA offers Taxpayer Relief Provisions when there are circumstances beyond a taxpayer’s control, including natural disasters, serious illness or death in the family, or errors made by the CRA, which may trigger penalties and interest due to late or incomplete tax filings. Here’s what you need to know.

In Canada’s 150th year, Knowledge Bureau is pleased to put the spotlight on Canadian Financial Authors and celebrate Financial Advice at the Crossroads of Change at DAC Nov 5-8 in Kelowna.  This week:  Rick Atkinson discusses:  Guiding Clients to Better Health & Well Being in Retirement.

We would like to remind you about our skill-testing financial trivia.  This is your chance to win a free registration to the DAC in Kelowna, where this year’s theme will be: CANADA 150: Financial Advice at the Crossroads of Change. You just need to correctly answer both questions.

At a time when governments are more closely monitoring changes in global GDP growth, the effects of protectionism, currency fluctuations, tax changes and sluggish business investment on the long-term financial well-being of Canadians, wealth advisors need to better understand new strategies for making tax efficient investment recommendations to the families they work with.

Canadians who reach age 65 are more likely than ever to live into their 90's thanks to healthier lifestyles and a decline in heart disease.  But this lengthens the retirement income planning period.  Therefore, a renewed focus on continued capital accumulation and preservation is as important as the tax-efficient withdrawal of funds.  Knowledge Bureau’s recently updated Portfolio Risk Management in Retirement course reviews the measurement and calculation of risk and return from this perspective.

Gain confidence and trust of your clients: Wisdoms from Sharon Timson, DFA - Tax Services Specialist, Manitoba

"I am grateful for the blessings of wealth, but it hasn't changed who I am. My feet are still on the ground. I'm just wearing better shoes.” - Oprah Winfrey