Bill C-31: Royal Asset and New CRA Powers Could Come Soon

Changes are coming to the Income Tax Act and both you and your clients will all be affected with new tax risks including longer tax audits. Bill C-31, which passed second reading in the House of Commons on June 3 and is now at committee stage, contains elements of previous Federal Budgets that will expand the CRA’s compliance and enforcement powers. Here’s what you need to know and pass along to your clients:

On October 7, 2014 the final piece of the puzzle was put in place to allow federally regulated PRPPs to become a reality across Canada.

Last week we reported on the New Small Business Job Credit will provide savings to small businesses through a reduction in EI premiums. This week, we’ll show you how employers will benefit.

The new Ontario Community Food program Tax Credit is worth 25% of the fair market value of food donated to the community and it’s an innovative idea that may catch on with other provinces and the federal government. 

Tax planning is about what you keep to live your happy life with. It’s too bad so many people miss out by failing to think about year end tax planning in the family.

(Winnipeg, MB) – On October 8, the new Financial Education Channel on the Financial Post, hosted by Knowledge Bureau, officially launched.

Learn how to expertly advise business owners about year-end tax planning and the best way to manage after-tax family income and the investment in the family business to meet future goals at the Year-End and Business Succession Planning Bootcamp this November.