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.

With the recent spike in inflation, planners need to re-evaluate their financial plans.  I’ve previously written about revisiting the long-term mortgage amortization projections with rising interest rates and the impact of rising costs to cash flow (With Mortgage Rates Rising, Revisit Financial Plans).

Nominate someone you know for the DAC New Advisor Award today! 

Estate Planning: Finding Financial Peace of Mind Despite Next Gen Despair

Gender Inclusion: Acknowledging and Servicing Transgender, Non-Binary and LGBTQ2+ People. It has never been more apparent than now that gender norms are changing, and these changes are here to stay.

Good news! CRA is reviewing previously denied claims for the Disability Tax Credit (DTC) under expanded eligibility criteria available for the 2021 tax filing year. 

Preserving capital in the current environment includes three goals: managing the financial triggers caused by the current environment, understanding the tax-efficient "wealth horizon", and preserving income-producing capital in advance of transition events: retirement and death of a taxpayer.