Trade Wars: Why Income Tax Filings Matter More Now

It’s hard not to get caught up in the trade wars saga, and of course it has serious economic repercussions. In times like these, our tax system can help. The federal government has indicated three pillars of support will be enacted, details of which are to come shortly:

Speaking this week at the Toronto Global Forum, Minister of State (Finance) Kevin Sorenson has called for renewed efforts in strengthening the global economic recovery from what the International Monetary Fund (IMF) Managing Director Christine Lagarde calls “the new mediocre.”  

Winnipeg, MB; October 27, 2014 — November is Financial Literacy Month in Canada, and the Manitoba Financial Literacy Forum is helping Manitobans sharpen their money management skills with the launch of its new website and 2015 calendar, offering helpful tools and lessons to empower people across the province to make responsible financial decisions at every stage of their lives.

On October 20, 2014 CRA launched the long anticipated electronic mail system for professional tax specialists registered under the Represent a Client portal.

In a move towards eliminating paper cheques, businesses in Canada are now being asked to complete two functions through the Represent a Client portal. Businesses will now have the option of both pre-authorized debit and direct deposit for their dealings with CRA.

It’s Halloween week and Financial Literacy Month is just around the corner, right after the ghosts and goblins visit. Just in time too, because it turns out it’s not just your imagination: communications from CRA are somewhat ghoulish.

Is succession planning an emerging issue for you and your clients? Are heirs properly prepared to become responsible and confident Powers of Attorney and Executors?