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:TFSA – (Perhaps Not) A Ticking Time Bomb? - Part 2
Last week, we looked at the TFSA helping those who pay taxes on investment income. This week in part 2, we will look at savings opportunities for the middle class.
Where Is My Refund and Who Does CRA Share it With? Part 2
Taxpayers and their advisors may consider this question more frequently as CRA pushes for more electronic communications, such as the provision of email addresses on this year’s tax return.
What Most People Don’t Know About Principal Residences (But Should) – Part 1
This week I had a discussion with a client about what would happen when either he or his wife passed away.
The “Cost of Borrowing” via Non-Compliance
The one thing about an electronic age – computers do exactly what they’re told to do – right or wrong!
Trust Funds Belongs to Bankrupts’ Creditors
The Supreme Court of British Columbia recently ruled that a bankrupt’s contingent entitlement to trust funds was property that vested with the trustee in bankruptcy as part of the bankrupts' estate.
It’s the male seahorses that have the babies….
Find out about this and more at the 2015 Distinguished Advisor Conference (DAC).
