Podcast: Automatic Tax Filing - Will It Work?

Last week Taxpayers' Ombudsperson François Boileau  tabled his annual report:  In Pursuit of Better Service: Taxpayers Deserve More.  once again, it was nothing short of scathing, as CRA received its highest number of complaints in the last three years.  Calling our “completely nuts” Income Tax Act a potential barrier, he is nonetheless pushing for automatic tax filing as a potential solution.  A new episode of Real Tax News with Evelyn Jacks & Friends available next week, will feature guest Gillian Petit, Ph.D. - author of a great report, Welcome News for Lower-Income Canadians, but There’s More to Do - which takes a deeper dive.  Consider the following:

What’s my business worth? If you or your business owner clients have ever pondered this question, you won’t want to miss this session.

Provide the expertise your small-to-medium business owner clients seek.  Whether you are a tax or wealth advisor, it is critical to understand the ins and outs of preparing T2 returns and gain a deeper understanding of the planning issues around share structure to diversify income sources, invest pools of redundant capital, maximize income splitting amongst family members, and plan for the sale of business maximizing the $800,000 Capital Gains Exemption in 2014. Early bird rates end June 30.

Do you have clients who have trouble saving enough money to make RRSP/TFSA deposits? Here is a smart resource that will pay off in spades: The One Financial Habit that Could Change Your Life. Three deliverables:  Refocus, build strong financial habits, and use the time value of money to change your financial life. Buy 3 online this week, get 1 free.

Are you aware of the possibility of paying victim surcharges?

On June 13, the Bank of Canada released its Financial System Review (FSR)[1]. The major risks to the Canadian economy remain the uncertain global economic condition. However, the largest domestic source of risk to the stability of the Canadian Financial system is identified as the housing market.

New Family Law Act in BC triggers wealth preservation considerations.