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?

It was a lovely visit at Knowledge Bureau head office with designate Vongsa Phommarath, MFA – Business Service Specialist™.

The Finance Department released its 37th report on federal tax expenditures last week; it has published estimates of tax expenditures for personal and corporate income taxes, as well as for the Goods and Services Tax, since 1944. It’s an interesting read, especially in advance of the March 22, 2016, federal budget, when the government is expected to announce new tax expenditures.

As a way to simplify the tax system, an overwhelming majority of respondents, 87%, to Knowledge Bureau’s February poll agree that investment income under $1000 should not be taxed. Will their wish come true?

Now that tax season is in full swing, Knowledge Bureau would like to remind you of some key dates to mark in your calendar: Regional DAW Workshops - May 24 to 31, Summer Studies Begin June 15, DAC  Nov 6 -9.

“A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty.” -Winston Churchill.

Be sure to stay tuned to Knowledge Bureau Report for all the details of the next federal budget – March 22, 2016.