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.Life Purpose
"Accept the challenges so that you can feel the exhilaration of victory." George S. Patton
Millions Suffer From Hearing Loss: Year-End Tax Planning Can Help
According to a recently released study by Statistics Canada, people who are socially isolated are more likely to experience a poor quality of life, morbidity and mortality. Loss of hearing has a big part to play in creating that feeling of isolation, particularly for women. Tax and financial advisors can directly help address the issues with some year-end tax planning.
Executors: How to Claim Donations On The Final Return
Executors will want to review donations strategies carefully before year end if managing the final affairs of someone who passed away in 2016. There are a series of new rules to be aware of.
RESP Deposits: Watch Out For Penalty Taxes
If making an RESP contribution is part of your year-end tax planning discussions, be sure to understand the expensive tax consequences of an excess contribution. A subscriber who contributes more than the limits allow will face a penalty tax of 1% per month on the excess amount, imposed under the Income Tax Act S. 204.91(1).
CRA Changes Reflect New Economy in Financial Literacy Month
Knowledge is power. That phrase reflects not only one of the messages in CRA’s financial literacy tips, but also the reality behind one of the recently announced changes to its national processing operations. The changes reflect a reality for many “old economy” workplaces: the new digital economy is changing workforces and the way end users prefer to transact with a hybrid of digital and human services.
Expand Services: Learn T3 Tax Preparation Now
Income earned by the estate during a tax year must be reported as a T3 return. Now, professionals can learn how to do so with confidence and competence, with Knowledge Bureau’s newest certificate course, T3 Basic Tax Preparation.
