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:Business and Financial Pros Say Government Should Do More to Support Post-Secondary Education
The majority of Canadian financial professionals and business leaders say the government is not doing enough to support post-secondary education, according to an online poll conducted by Knowledge Bureau, Canada’s premiere national institute for excellence in financial education. These findings come despite generous, but underutilized, support from the RESP, Canada Education Savings Grants and Canada Learning Bonds.
What Do You Do If You’re Audited by the CRA?
The Canada Revenue Agency completed nearly 112,000 audits during fiscal 2016-17, according to a government report on recent efforts to crack down on tax cheats. If you or your clients are chosen for an audit, there are a few best practices that can help you through the process.
Life Purpose — Gratitude
“Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.”
— Oprah Winfrey
Doug Nelson Wins 2017 DAC Client Innovation Scholarship Award
Canadian portfolio manager and 25-year veteran of the financial services industry, Douglas V. Nelson, CFP, MFA, CLU, CIM, has been awarded the 2017 DAC Client Innovation Scholarship Award, to be presented at the Distinguished Advisor Conference in Kelowna, B.C., November 5-8. The award was co-founded by Knowledge Bureau and Franklin Templeton Investments in 2016.
Do Your Clients Have Good Debt or Bad Debt?
Canadian household debt hit a record in the second quarter of this year, at $1.68 of debt for every dollar of income. As interest rates increase and debt levels soar, your clients run the risk of much greater uncertainty about their financial security.
Weekly Thought Provoker: Can Advisors Add Value Through Holistic Approaches?
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