Finance Canada Drops Draft Legislation August 15

All professional tax practitioners, financial advisors should take note of an important mid-summer release of draft legislation to implement some of the proposals from the November 2024 Fall Economic Statement, the April 2024 Budget, the EIFEL rules announced on August 12, 2024, and rules relating to passive income of foreign affiliates announced in the 2022 federal budget.  This draft legislation also introduces more modifications to new trust filing requirements. Brief highlights appear below;  technical details will be discussed in the September 17 and November 5 CE Summits and Knowledge Bureau’s certificate course on T3 Filings. 

To keep small and medium-sized business owners abreast of statistical news and trends, Statistics Canada publishes a monthly enewsletter.

A new tax treaty will increase trade and investment between Canada and Hong Kong.

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Earn 30 CE Credits with this self-study, online course designed especially for financial advisors who want to specialize in helping clients develop strong personal net worth statements by managing debt and establishing a savings process.

The global economy is on the road to recovery. In fact, said veteran economist Patricia Croft, a speaker at the opening day of the Distinguished Advisor Conference in Naples, Fla., we are half way there.

Sailing in uncharted waters means taking new approaches and speakers at Day 2 of the Distinguished Advisor Conference advocated a collaborative approach.