Should the Canada Employment Credit Reflect the True Cost of Going to Work?

With the rising cost of transportation, meals, clothing, and other work-related expenses, many Canadians are questioning whether the Canada Employment Credit, set at $1,501 for 2026, still reflects the real cost of earning employment income. Tax professionals, employers, and taxpayers continue to debate whether the credit should be increased, restructured, or replaced altogether. When our poll asked if the Canada Employment Credit should be increased, 87% said yes. Below are perspectives shared by tax and financial professionals across the country.

2018 is destined to be a busy season for Canadian tax preparers and financial advisors who will need to be prepared to assist their clients in addressing the many new tax changes. This year’s CE Summits will help you gain a better understanding of the tax changes that have occurred, and those to come for private business owners and their families, and will allow you to hone the technical skills necessary to effectively address them.

Robo-advisor technology can be seen as a threat, or an advantage. Adopting a hybrid approach may help your business. Join the conversation on our Executive Business Builders Network and tell us how you feel you can make robo-technology work for you.

Canadian portfolio manager and 25-year veteran of the financial services industry, Douglas V. Nelson, CFP, MFA, CLU, CIM, has been awarded the 2017 DAC Client Innovation Scholarship Award, to be presented at the Distinguished Advisor Conference in Kelowna, B.C., November 5-8. The award was co-founded by Knowledge Bureau and Franklin Templeton Investments in 2016.

Knowledge Bureau and Manulife are pleased to announce that Joseph Alfie (left), B.Com. of Myriad Private Wealth/HollisWealth in Montreal, Quebec, and Jonathan Earle, B.Sc, P.Eng, MBA, CFP®, CIM®, a financial advisor with Bell Financial/Manulife Securities Incorporated in Aurora, Ontario, have been selected as the 2017 winners of THE DAC YOUNG ADVISORS AWARD, to be awarded at the Distinguished Advisor Conference (DAC) in Kelowna, B.C., November 5 - 8.

Plus, find out who the lucky winners are to the DAC trivia contest!

The Bank of Canada’s interest rate hike this month and the increase of prime rates by the big banks have made effective debt management even more important for Canadians.