Time’s Up: CRA’s 100 Day Mandate for Improvement
After years of frustration on the part of tax professionals and taxpayers alike, the Finance Minister ordered the Canada Revenue Agency to clean up its act in 100 days. Specifically, the improvement plan was to run from September 2 through December 11. Finance Minister and Minister of National Revenue, Francoise-Phillippe Champagne instructed CRA to fix “unacceptable wait times and service delays.” Time’s up this week and CRA has released an update on progress. What gets measured, gets done. Let’s see what CRA’s metrics show.Are You Looking at Changing Your Career Path?
Do you like working numbers and have an aptitude to solve problems? Do you love working with people? It may be the right time to change course and embrace a new career path in the tax accounting industry. It can be financially rewarding, too. An accountant with 0-3 year's experience living in Alberta is making on average $70,538, according to the latest Robert Half Salary Guide. A senior tax accountant in Toronto is making over $100,000.
Looking for IIROC Credits? Take the RWM™ OR MFA-P™ Program
Knowledge Bureau is pleased to announce that two of its designation programs qualify for IIROC Credits: The RWM™ (Real Wealth Manager) Designation qualifies for 20 PD credits and the MFA-P™ (Philanthropy) designation provides 20 PD and 3 Compliance Credits.
The Best Client Conversation Starter: Tax Filing & Benefits Milestones for December and January
Here’s a proactive conversation starter with your clients this month: a tax filing and benefits milestones chart! It’s a great way to ensure your clients can cash in on generous benefits from the government and a chance to remind your clients how important filing tax returns really can be.
Should a Business Incorporate?
To incorporate or not incorporate, that is the question… a very common question that small business owners ask their trusted advisor. There are so many variables that come into play in this decision, so the answer is, it depends! Read on as we consider the factors to consider with a small business owner. Only then should the transition from sole proprietor or partnership to a Canadian Controlled Private Corporation (CCPC) be taken.
Tax and Economic Education Matters – A Great Opportunity for Advisors
In a time of high inflation, and high debt, Canadians are paying attention to the economic messages they are receiving from government. According to a recent poll by Ipsos, Canadians are in fact having mixed feelings on the most recent November 3, 2022 Fall Economic Report and Mini-budget, which was followed the next day with Explanatory Notes to a 169-page Ways and Means Motion that amends the Income Tax Act for new measures.
With Almost $2 Trillion of New Wealth Coming – Are You Prepared?
“Global Wealth 2022: Standing Still Is Not an Option” from Boston Consulting Group (BCG) predicts that $80 trillion in new wealth will be created over the next five years, including almost $2 trillion in Canada to a total $9.4 trillion. Are you prepared for this transfer of wealth? Become an advisor for the future: take a bold step and differentiate your practice by earning your RWM™ Designation.
