News Room

Tax Shock Adds to Family Heartbreak

Last month the sad story of an Ontario family who suddenly lost both parents in 2024 was shared in Burlington Today.  The tax outcomes were just as shocking as the two deaths from unrelated causes.  There was a cottage, a large RRSP and a big tax bill.   Some of the outcomes could have been mitigated with some planning.   I sat down with CTV’s Pat Foran to discuss the outcomes – with a message important to family planning.  

Ontario Estate Taxes: Significant and Unexpected

Dynamic Elise Pulver, LLB, will address significant and unexpected changes to the Estate and Administration Tax Act, at the Distinguished Advisor Workshop, June 22 in Toronto.   

Would You Voluntarily Contribute Extra to CPP?

Last week, Federal Finance Minister Joe Oliver announced in the House of Commons that the government is open to allowing Canadians to make additional voluntary contributions to their CPP in order in increase their CPP savings.

UCCB Lump Sum is Coming, but Not for Several Weeks Yet

Parents with children under age 18 living at home will be receiving a lump sum of $420 per child with their July Child Tax Benefit payment. This lump sum represents the additional $60 per month per child payable as of January 2015.

How to defend against a Net-Worth Assessment

CRA has applied a net-worth assessment against your client, who now comes to you for help . . . and they are emotional and scared. What do you do first?

“Atrocious” Economic Data, but Healthier Household Debt Ratios

The most recent economic data is indeed atrocious, as Bank of Canada Governor Stephen Poloz predicted in England late last year.

The Big Picture on Debt in Canada

Last week’s KBR reported on a recent Statistics Canada study, Changes in Debt and Assets of Canadian Families, 1999 to 2012, that confirmed a trend that Canadians are carrying more debt than ever before.
 
 
 
Knowledge Bureau Poll Question

Do you believe SimpleFile, CRA’s newly revamped automated tax system, will help more Canadians access tax benefits and comply with the tax system?

  • Yes
    4 votes
    11.76%
  • No
    30 votes
    88.24%