CRA Shut Down: Communicate Proactively Before Long Weekend

Did you know that Canada Revenue Agency (CRA) will be undergoing a digital migration on the September long weekend, starting Friday August 29 at 8:00 p.m. and ending Tuesday at 6:00 am September 2, with the proviso that this possibly could last til September 3? What could go wrong? Plenty.

By definition, payroll remittances are mandatory statutory deductions withheld from an employee’s pay by an employer for the purposes of funding government programs.  But are they a tax? The answer is yes, and this is why:

“I love the Knowledge Bureau CE Savvy Modules! It will now be our firm’s first place to enrich our knowledge and skills while earning our required CE credits to maintain our registrations. Personally, it is easy to login, find the topics of interest, easy to navigate through the courses, and the special effects (pictures, diagrams, animations) make you stay on-line and complete what could otherwise be boring topics …. because Knowledge Bureau makes it fresh and exciting! Thank you for this invaluable tool!”

On Monday Oct 17 at DAC 2022, join Judith Chambers, an Investment Advisor at TD,  on a panel discussion led by Christine Logan, Head of Marketing (Americas) for Franklin Templeton and co-panelist, Saijal Patel, host of Strictly Money.

The Personal Pension Plan is the “Swiss Army Knife” of solutions for retirement planning in a new and changing economic environment. It is therefore a must know for tax and financial advisors working with pre-retirees; in particular, business owners.   

Fall is in the air which means, from a financial planning perspective, a transition to year-end tax planning activities! Tax savings are such an important hedge against inflation, but Canadians are missing out: 

The Department of Finance released draft legislation for public comment on the Tax-Free First Home Savings Account (FHSA) first announced in Budget 2022. The scheduled effective date is January 1, 2023; however, it will likely be little later in the year before firms start offering the option to clients.