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:Business Transition Audits at DAW November
Tax and financial advisors won’t want to miss the Distinguished Advisor Workshops November 3-6 in Winnipeg, Toronto, Calgary and Vancouver respectively, when year end planning and business owner-manager transition is discussed in depth.
Financial Literacy Leader Releases Seniors Strategy in Winnipeg
Four main goals in enhancing financial literacy for seniors were announced on a beautiful fall day in Winnipeg last week by Minister of State Kevin Soreinson and Financial Literacy leader, Jane Rooney.
Tax Court Criticizes CRA Forms in Recent Decision
In Gibson v. The Queen 2014 TCC 236, appellant Joan Gibson was forced to go through lengthy litigation, despite her severe fatigue syndrome to fight the tax man, but she prevailed.
CRA Releases 2014 T4 Slip
The 2014 T4 slip is now available and contains a couple of changes of note.
CRA Consults with Businesses on Red Tape Reduction
Do you have red-tape reduction ideas that will assist businesses in their dealings with CRA?
Evelyn Jacks: Ancient Tax Law Important in Family Cottage Succession
Tax and financial advisors should make an effort to review their clients adjusted cost base records as part of the annual Year-End Tax Planning routines now 'til the end of the year, especially if the family owns a taxable cottage property.
