Wildfires: Apply for Taxpayer Relief Provisions
It may not be the first concern, but Canadians affected by wildfires may worry at some point about the tax consequences of lost records or missed filing deadlines – the next one on June 16 for those filing T1 returns with proprietorship income. Fortunately, the CRA offers Taxpayer Relief Provisions when there are circumstances beyond a taxpayer’s control, including natural disasters, serious illness or death in the family, or errors made by the CRA, which may trigger penalties and interest due to late or incomplete tax filings. Here’s what you need to know.DAW: Still Time to Learn About Helping Retirees
There is still time to join us at the Retirement and Estate Planning Bootcamp in Calgary, Vancouver, and Toronto. Register online or call us at 1-866-953-4769 to register quickly and get all the details you need.
Defend Clients’ Retirement Savings Against Tax Erosion
Accurately prepare retirement plans that achieve the necessary results with the Advanced Tax-Efficient Retirement Income Planning course. This course marries tax and financial planning competencies and is the perfect complement to the Retirement and Estate Planning Bootcamp, September 17-22.
Four Provinces Sign On: Cooperative Capital Markets Regulatory System
The Finance Minister of Canada, Joe Oliver and the finance ministers of British Columbia, Ontario, Saskatchewan, and New Brunswick have signed a Memorandum of Agreement on September 8 to jointly establish the terms and conditions of a Cooperative Capital Markets Regulatory System, and released draft provincial and federal legislation to harmonize current legislation.
Advisors and Succession: Where’s the Plan?
Many advisors have spent a good part of their lives building their business and have the bulk of their personal net worth tied up in it, making their practice their most valuable investment asset — the one they are counting on to help fund their lifestyle in retirement.
Fourth Quarter Prescribed Interest Rates Set
Although CRA will not make the official announcement until later this month, the prescribed annual interest rates for the fourth quarter will remain at the same rates as the prior three quarters.
Directors Escape Personal Liabilities
Subsection 227.1 of the Income Tax Act and subsection 323 of the Excise Tax Act provide that the directors of a corporation will be personally liable for their corporation’s failure to remit employee withholdings and GST.
