Knowledge Bureau Poll: Tax Cut Doesn’t Cut It!

The Notice of Ways and Means Motion was released on May 27, but the 1% tax rate cut going into effect on July 1, didn’t cut it with Knowledge Bureau Report readers who responded to our May Poll.  A decisive 90% of respondents said “No” when asked: does the new government’s promise to cut the lowest personal income tax rate by 1% to 14%, (14.5% in 2025) go far enough to help Canadians impacted by high costs?  Here were their comments and suggested alternatives based on real life experiences with the after-tax income their struggling clients are left with:

On August 8th, Standard & Poor’s (S&P) revised its outlook on Canadian banks to “negative”. Why?

Canada’s economic growth is poised to be in a sweet spot.

The Tax Court of Canada recently allowed an application for an extension to serve a notice of objection to an assessment. Perhaps the most interesting aspect of the case was the dismal performance of the Canada Revenue Agency (CRA).

The fall “back to school” time provides a great opportunity enhance knowledge-based careers.

It is not uncommon for elderly people to form delusionary beliefs about those who should rightfully be named in their will.

There are big sweet spots for advisors and clients who focus on the right issues in the financial services, and 21 influential movers and shakers from both sides of the Canada – US border will embellish on them this fall at the annual Distinguished Advisor Conference to be held in the Texas Hills, near Austin, November 9 – 12.