The CRA TSlip Saga: An Update

This tax season has been particularly challenging for both taxpayers and tax professionals. The Canada Revenue Agency (CRA) provides tax information slips—such as T3, T4, T5, and their variations—through secure online portals: My Account and Represent a Client (RAC). This year, there were lots of problems with these portals, and now, it appears, CRA is not being quite transparent about when the slips were actually visible to clients and that doesn’t seem fair. Here’s an update on where we stand now.

Most advisors know that everyone should have a will and power of attorneys for property and health. But should everyone have a trust as part of their estate plans?  According to best-selling author Christine Van Cauwenberghe who is also VP, Tax and Estate Planning at IG, trusts are not for everyone. 

Global Families: Beware the Multi Million Dollar Tax Traps By Terri Williams What does the great wealth transfer look like post-pandemic and after tax?   The trend may be that sharing money and assets with the next generation will happen sooner rather than later,  according to a recent CIBC survey.

Investment Planning – What if Conventional Wisdom is Wrong? By Terri Williams According to Dr. Jack Mintz, who spoke at last week’s Distinguished Advisor Conference (DAC), the global economy faces a very uncertain future because of the impact of the pandemic induced supply shock. 

On October 21, just a whisper before  many of the pandemic support programs for individuals and business were set to expire two days later, including the Canada Recovery Benefit (CRB) and Canada Emergency Wage Subsidy (CEWS), the federal government announced some transitional provisions. Now, new targeted COVID-19 support benefits are being introduced. Read on for details:

Trouble keeping or engaging staff?  It’s a common issue, but there may be a simple solution, according to Dr. Paul Bates, who kicked off the educational portion of the Virtual DAC (Distinguished Advisor Conference) agenda Sunday evening with an inspiring overview of what leaders need to do to create a workplace which leads to complete human flourishing.  

Who knew Improv could be such a great team building exercise?  If you are working with a new team in your organization, you should consider it, as DAC delegates found out to their surprise and delight. The Virtual Night at the Improv session was more than a hoot:  delegates also learned a lot about communication skills in four skill-building games.  Here’s what happened: