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.

What can an advisor who has the usual mix of clients learn from a family office business serving the ultra high net worth? A lot, according to Terry Jenkins, president of BMO Private Bank, U.S., in Chicago and a speaker at this year’s Distinguished Advisor Conference.

Statistics Canada released revised data on the income of Canadian households for 1981 though 2010.

  If you are in British Columbia you are probably aware that on the 31st of May 2012, the legislative assembly of BC passed Bill 54 to re-implement the provincial sales tax (PST) in the province, alongside the goods and services tax (GST), ridding the province of the much-criticized harmonized sales tax (HST).

Back in the early 1970s, tax reform, which largely introduced the taxation framework we still live with, considered whether the family, including dependants living in the home, should be taxed as one unit on one tax return.

A recent Tax Court of Canada (TCC) decision, in Sutcliffe v The Queen, contains some interesting information regarding that court’s jurisdiction, specifically to its inability to decide whether source deductions have been taken or not.

Those holding stock in the Kraft Foods Group Inc were surprised, to say the least, when on Thursday October 4th the Kraft shares opened at $45.55 then surged to $58.54. The Nasdaq attributed the rapid change to “broker error.” This occurred only days after Kraft Foods and Mondelez International, a former part of Kraft foods began trading as two separate companies.