Red Ink on the Prairies

A day after Quebec’s Finance Minister Eric Girard brought down a Budget featuring a $6.3 Billion deficit, Saskatchewan’s Finance Minister Jim Reiter tabled his government’s budget on March 19. Next up was Finance Minister Adrian Salas, who tabled the Manitoba Budget on March 24. The common thread: there’s lots of red ink on the Prairies. But that’s where the budget documents differ between Manitoba and Saskatchewan. Here’s the latest tax news and why it matters to the advice you give your clients.

About a quarter of a million business owners, or a fifth of businesses with employees, are now aged 55 and over and succession planning is big for them and for the economy. So is tax. How deep is government in the pocket of business? 

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Planning with trusts is becoming more and more common and if you can’t answer questions and explain the concept, your clients will find someone who can. Learn the pros and cons of all possible solutions for wealth and succession planning and earn a long-term and potentially intergenerational connection to your client and their family.

The Income Tax Estimator is a simple calculator that helps determine total taxes paid for individuals and/or couples based on different combinations of income sources. See it in action with the following what-if-scenario and then try it for yourself, risk-free!

While opinions are split on whether increases to income tax or sales tax would be better, KBR readers largely agree that governments need to be more accountable for their spending and budgeting practices.