Mark Your Calendar: Critical Deadlines for May and June

Tax season never truly ends, it seems, as there are many more upcoming tax filing, investment planning and education milestones to discuss with your clients over the next six months. Check out our handy checklist below and then test yourself – what are the conversation openers you’ll use and with which clients? It’s your opportunity to shine with every member of the household:

The RRSP is the most versatile vehicle available for tax planning for most Canadians although it is often poorly utilized. The RRSP Savings Calculator provides quick answers about the potential tax savings that can be obtained through an RRSP contribution as well as the consequences of borrowing to make that contribution.

On June 12, 2013, the Federal Court of Appeal released its decision in Canada v. Guindon (2013 FCA 153). The issue to be determined was whether advisor penalties levied under Section 163.2 of the Income Tax Act (the “Act”) created an “offence” within the purview of Section 11 of the Canadian Charter of Rights and Freedoms (the “Charter”).

On June 20, the Honourable Ted Menzies, Minister of State, Finance, announced that the selection process for the first Financial Literacy Leader of Canada was officially underway.

On June 22, the Canada Revenue Agency (CRA) announced that taxpayers who have been affected by the recent flooding in the Calgary area would have access to the taxpayer relief provisions, if they were unable to meet their tax obligations on time.

Wondering if we’ll ever get summer this year? Here’s something to ponder if you’re stuck at the cottage in the rain. . .the six laws of a long and happy life.

Avoid owing more than $2,999 at your balance due date. Here's why...