Downsizing Your CRA Tax Files?

Happy New Year! If one of your resolutions for 2026 is to downsize, or at least sort through all that stuff you don’t need anymore, you may inevitably run across those tax files you’ve been keeping for decades. Just how long do you have to keep them? Do you need permission to destroy them? From whom? Read on to learn more. 

As government budgets close one tax advantage after another, it pays to do some tax planning now as you complete your 2015 tax return. Tax time is a great time to prepare a financial assessment through a sound interview process with your advisors. That’s because it’s a great opportunity to review financial affairs of the family as a whole.

Cecil Baldry-White, CEO of Alitis Investment Counsel, believes there are six major challenges that wealth advisors face in attaining higher returns and longer term performance for their clients in today’s difficult investment environment, and he believes we must meet these challenges head on.

Small business forms the backbone of the Canadian economy, yet only a minority of businesses successfully pass to new owners. Sophisticated strategies are needed to ensure greater success in the transition of business ownership.

Recent Panama Papers leak started broad discussion on tax systems and the underground economy.

"Try to be a rainbow in someone's cloud." Maya Angelou

If you are confused by the numerous family tax changes over the past couple of years, you are probably not alone.