Canadian Dental Care Plan Renewal Deadline Approaches
Know Your Client! It’s a daily commitment and requirement, especially in the work that financial advisors do with their clients. It’s imperative that you ask about any significant changes in their lives. Has there been a significant new event: a move to take a new job or go to university, a marriage or divorce, a new birth, a disability or a death? And, in the case of income tested benefits such as the Canadian Dental Care Plan, (CDCP) do they qualify? Did they file their tax return on time to get it? Do you know the deadlines for doing so? Do you know when coverage ends if your client now longer qualifies?Post-Secondary Education Offers a Brighter Future for Young Adults
Sadly, the gap between the least and most educated in our society is growing. In 2016 young males without a high school diploma had an employment rate of 67 percent compared with 89 percent for a university-educated man; the employment rate for women with less than a high school diploma was 41 percent versus 84 percent for those with a university degree.
Build a Business, Eliminate Job Dissatisfaction
Attaining work-life balance and overall job satisfaction seems out of reach for a percentage of Canadians, according to Statistics Canada. Embracing new opportunities for personal and professional development is the key to reaching these goals.
People in the News: Reader Comments on Tax Reform
At Knowledge Bureau, we love to receive feedback from our readers. Klaus Theyer of Exact Tax Services commented on thought leadership about recent federal tax changes. Here’s what he said:
Analysis of Tax Reforms to Passive Investment Income
Breaking news from Ottawa: The Parliamentary Budget Officer (PBO to follow-up on The Minister of Finance’s July 18 proposals, releasing a new report on November 23.
Avoiding the Tax Consequences of Transferring Assets to Children
The transfer of assets to family members is an important part of retirement and post-retirement planning, as the tax consequences can be enormous. This is especially true now for average families as well as high-net-worth clients, because all final tax returns will carry with them the requirement to report any deemed disposition of a common family asset: the principal residence.
CRA Targets Business PayPal Accounts
Do you or your clients use PayPal for business transactions? Did you report them on your tax return? If not, you’ll want to correct those errors or omissions quickly under the Voluntary Disclosures Program (VDP), because you are in the sights of the CRA. A federal court ordered PayPal to disclose information about all business account holders who received or sent a payment between January 1, 2014, and November 10, 2017.
