Podcast: Automatic Tax Filing - Will It Work?

Last week Taxpayers' Ombudsperson François Boileau  tabled his annual report:  In Pursuit of Better Service: Taxpayers Deserve More.  once again, it was nothing short of scathing, as CRA received its highest number of complaints in the last three years.  Calling our “completely nuts” Income Tax Act a potential barrier, he is nonetheless pushing for automatic tax filing as a potential solution.  A new episode of Real Tax News with Evelyn Jacks & Friends available next week, will feature guest Gillian Petit, Ph.D. - author of a great report, Welcome News for Lower-Income Canadians, but There’s More to Do - which takes a deeper dive.  Consider the following:

This fall, learn an important skill that’s in demand. Retirement income planning is a skillset in high demand by the baby boomer demographic—the most affluent generation in our history. 

Passionate about sharing knowledge in financial education?  Then contact us today. 

“Anything that you learn becomes your wealth, a wealth that cannot be taken away from you; whether you learn it in a building called school or in the school of life. To learn something new is a timeless pleasure and a valuable treasure.” C. JoyBell C.

Statistics Canada reports that an undergraduate degree costs close to $6200 but according to a new study,  80% of parents don’t know that.  Worse,  most parents are poorly informed about tax efficient ways to save, especially weak on RESP knowledge.  This is a great opportunity for tax and financial advisors to add significant value.

A highly engaged audience weighed in on who should fund post-secondary education as Knowledge Bureau’s August poll asked, in your opinion is it the parent’s responsibility.

It’s fall:  time to ramp up Canada’s economy! Possibly the only good news in Statistics Canada’s August 31 report on Gross domestic product, income and expenditure, for the second quarter 2016, was that Canada’s household savings rate was 4.2%, up from 4.1% in the first quarter.