Knowledge Bureau Poll: Tax Cut Doesn’t Cut It!
The Notice of Ways and Means Motion was released on May 27, but the 1% tax rate cut going into effect on July 1, didn’t cut it with Knowledge Bureau Report readers who responded to our May Poll. A decisive 90% of respondents said “No” when asked: does the new government’s promise to cut the lowest personal income tax rate by 1% to 14%, (14.5% in 2025) go far enough to help Canadians impacted by high costs? Here were their comments and suggested alternatives based on real life experiences with the after-tax income their struggling clients are left with:Thought Leadership from an Olympian: Workplace Diversity and Inclusion
Addressing workplace diversity and inclusion is a core approach for achieving the higher standards of care demanded of today’s tax consultants and financial advisors. But what does it take to rise above our “Canadian Privilege” to achieve better results for a changing demographic landscape in your advisory practice?
CPP Benefit Enhancements: An Alternative to Private Plans and Pensions
Will the CPP be enough to provide security in retirement? That’s a big question for many who face higher premiums for the mandatory plan starting in January of 2019. But to get the most out of your CPP, it pays to get some professional advice.
12 Essential Year-End Tax Planning Questions
Complex new tax rules were introduced for 2018 and 2019. Tax accountants, wealth advisors, and taxpayers will need to follow the “after-tax lifeline” of an invested personal or corporate dollar with 12 planning strategies.
The Complex World of Business Partnerships
Are you considering owning a business with a partner? It’s a great opportunity to hone your leadership skills, especially if you’re making the transition from employment to self-employment. But, you may want to think twice: partnerships can be tricky business.
$110 Million Owing on TFSA Audits
Over the past year, the Canada Revenue Agency has made it a priority to collect on what they’ve deemed to be over $100 Million in unpaid taxes on TFSA investments. But can investors fight back?
Take 2: New Complex Tax Rules, Short Comment Periods
If the date July 18, 2018 rings a bell it should: it marked the one-year anniversary of Morneau’s controversial small business tax proposals. This year, mid-summer tax complexity is again in the news, as Finance Canada released two important new tax documents for Canadians on July 27: the Draft Sales and Excise Tax Legislative and Regulatory Proposals and the Draft Income Tax.
