Elbows Up: The Time for Personal-Corporate Tax Reform is Now
One can’t avoid the messaging of the economic pain to come. Our deteriorating economic relationship with our biggest trading partner will require us to “pivot and prosper” in order to emerge “stronger and more resilient” says our Prime Minister. While exactly how we will do this is still unclear, there is one clear opportunity: for both federal and provincial governments to initiate a significant personal and corporate tax reform in the upcoming fall budget.Should Canada Bring Back Income Averaging Provisions? February Poll Results
With high inflation rates, currently 5.9% on average across the country – all Canadians are feeling the pinch. One could argue that those earning an income that varies significantly year-to-year are being hit even harder.
Tax Tip: Moving Expenses Can Be Lucrative
Did you move during 2022 to take a new job or start a new business or even to go to school? If so you may be eligible to claim a host moving expenses on your tax return. But the time to get your receipts together is now!
Tax Tip: How to Claim Union Dues
Do you pay union dues? Then you will qualify for a tax deduction and possibly a GST/HST rebate. Here’s what you need to know:
Missed Filing Past T1s? 12 Reasons to Do It Now
It pays to file outstanding tax returns as soon as possible and certainly before May 1, this year’s tax filing deadline. Here are 12 reasons why:
Looking for CE credits in 2023? Knowledge Bureau has World Class Financial Education for you
Did you know 2023 is an extremely important Milestone Year for CE/CPD Credits in the financial services industry? Knowledge Bureau designates need 15 CE Credits by June 30 to relicense; IIROC Cycle 9 ends on December 31, 2023 and Insurance Council licensing CE credits are due at various times throughout the year. That’s why Knowledge Bureau is offering 5 new and exciting CE options to meet your professional development needs in 2023:
Asset Management and The Price of Lettuce
The price of lettuce in Canada – up over 35% in a year – is still an eyebrow raiser, despite the easing of the inflation rate in January to 5.9%, according to Statistics Canada. What does that have to do with Asset Management? Simply that 2023 is proving to be a tough financial year and advisors need to up their game to manage the concerns of anxious taxpayers and investors who are tapping into portfolios to pay for inflation and recent interest rate hikes, and coming up soon – their tax bills.
