Pre-Budget Consultations Now Underway!

Pre-budget consultations are now underway for this fall’s Federal Budget and Canadians are invited to share their views with Finance Minister Francois-Philippe Champagne through an online survey. Over the next several weeks, the Finance Minister and his team will meet with various stakeholder groups and review public submissions before finalizing the budget.

It’s Christmas time and the spirit of giving fills the frosty air, at least here in Manitoba, where we are surely in for a traditional, cold winter.

Proposed changes to the Income Tax Act will oblige taxpayers to report “avoidance transactions” if the transactions include two of three existing “hallmarks.”

The prescribed annual interest rate that will apply to any amounts owed to the Canada Revenue Agency (CRA) is 5% for the first quarter of 2013, unchanged from the previous quarter.

Claims for the Children’s Arts and Children’s Fitness tax credits are based on when the payment is made, not the year in which the activities are scheduled.

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Help your clients create a charitable giving plan that both meaningfully supports their cause and complements their overall wealth management strategy in a tax-effective manner. KBR readers receive $5 off if they order before December 17.