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:New! Check out our New Designation Brochures and 2015 Course Catalogue
The 2015-2016 Knowledge Bureau Course Catalogue is now online.
Foreign Income Verification Reporting – Form T1135 (Part 3)
This is the final instalment of a three-part series on Foreign Income Verification.
CPP – Now or Later? (Part 2)
Last week in Part 1 of CPP - Now or Later, we discussed that one of the more difficult decisions for those approaching retirement is when to start receiving their CPP retirement pension.
False Statements on Tax Returns Leads to Fine, Jail Time
According to an article posted on the Canadian Revenue Agency (CRA) website, an Ottawa woman was recently sentenced to 30 days house arrest and ordered to pay a fine of $47,789 due to false statements made on her income tax return.
Family Tax Cut Changes Conventional Wisdom for RRSP Contributions
Before the Family Tax Cut provisions it was straightforward, a given RRSP contribution was always more beneficial if claimed by the higher-income spouse.
DAC 2015 is Heading to Puerto Vallarta, Mexico
Have you reserved your spot at the 2015 Distinguished Advisors Conference (DAC) yet?
