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:Will Having a TFSA Reduce the Size of the Guaranteed Income Supplement?
With very minor exceptions, the definition of “income” used to determine the amount of the Guaranteed Income Supplement is the same as “Net Income” under the Income Tax Act.
Understanding Synthetic Dispositions – Total Return Swap
We continue our Synthetic Dispositions series this week with a look at a total return swap.
Business Strategy Required to Manage Risk
Are you ready to grow your business? According to Statistics Canada[1], the top three reasons businesses fail is lack of vision, lack of knowledge, and the inability to use outside advisors effectively.
Tax Efficiency Strategy: Earn More Tax Exempt Income
There are many sources of tax exempt income of which most people are unaware. Here's the tax secret...
FOR IMMEDIATE RELEASE: Top Advisors to Discuss Future of Financial Services
Winnipeg, MB. Under the theme, Back to the Future, delegates at the DAC (Distinguished Advisor Conference), will explore opportunities to build on past successes and experiences in a changing environment for both tax and financial advisors.
DAC 2013: Dan Kelly – Behavioural Finance: CRA and the Independent Business Community
About a quarter of a million business owners, or a fifth of businesses with employees, are now aged 55 and over and succession planning is big for them and for the economy. So is tax. How deep is government in the pocket of business?
