Helping First Nations, Inuit and Metis with Tax Filing

The Canada Revenue Agency is trying to reach out to Canada’s First Nations, Inuit and Metis to encourage them to file their tax forms on time and could use your help to make sure these communities get all the tax benefits they are entitled to. But filing tax returns are not always easy, especially when there is income on and off the reserve.

CRA issued IT 518 to overview their position with regard to the deductibility of food, beverages and entertainment. Reasonable amounts may of course be deducted, if incurred to earn income from a business or property.

Investors seeking safety and guarantees often have segregated funds in their non-registered investment portfolio. Segregated funds are mutual funds wrapped up with a life insurance policy to provide a death benefit as well as a guarantee of principal.

Avoid owing more than $3,000 at your balance due date.

Knowledge Bureau will be reporting live with highlights from the 10th Annual Distinguished Advisor Conference November 10-13. Tune in to the key nuggets our 24 distinguished speakers will impart! Follow the action on Twitter with @knowledgebureau.com and #KBDAC. Be sure to also join us for the announcement of the location and theme of next year's DAC!

It’s ALL TAX, ALL DAY—and it’s going to be fun! Shake out the cobwebs: Get ready for the busy 2014 tax season in this fast paced workshop focused on changes in personal tax planning, 2013 T1 tax forms and all the details you need to really dig for every tax deduction and credit your clients are entitled to. Be an early bird and save – early registration ends November 30.

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