Opportunity: Canadian Dollar Stabilizes, Somewhat

Things have started to turn around for the Canadian dollar in the second quarter of 2025. It hit a 22 year low in January of 2025. Investors and property owners, who have been swooning at the high burn rate in their travel plans and property maintenance abroad, may wish to consider recent more positive trends and consider some risk mitigation opportunities now that the dollar is stabilizing somewhat.  

According to recent census data from Statistics Canada, the baby boomers continue to live life on their own terms, especially as they approach and surpass the traditional retirement age, but they are working longer, supporting adult children and often they are also in debt. The provides opportunities for interaction with retirement specialists.

Last month we discussed the key disruptors leaders need to deal with in building their businesses to the next level. Scaling up is important . . . but what does that mean? What skills do you need to lead your team through dramatic change and get better results? You essentially have two choices: create a culture of compliance or a culture of collaboration.

Precise tax knowledge counts:  accurate tax preparation is the goal of every professional tax specialist and it is a tremendous value add for financial advisors and their staff who will field hundreds of calls from their clients this tax season. The winter edition of CE Summits Theme – Advanced 2018 Personal Tax Update, coming to six cities near you, begins Thursday, January 18 in Winnipeg. Register today and save on tuition fees.

The tax take is much more significant than first thought. The Parliamentary Budget Officer (PBO) released a report on November 23, 2017, that suggests the revenue increase from proposed new taxes on passive income earned in a small business corporation will be as high as $6 Billion dollars annually by the time the full effects of the changes are implemented. This is much more than the initial $250 Million figure first suggested by the Department of Finance, and still only a best guess.

An Auditor General report released last week indicates that the CRA is blocking calls and providing Canadians with inaccurate information, leaving many at risk of severe and expensive consequences in filing their tax returns.  This is especially troublesome as Canadian taxpayers bear the burden of proof to justify the entries they submit on their tax returns.

Have you or any of your clients received a pink slip or early retirement package? There is some tax planning to consider doing before saying farewell to the world of work.