Late Filing Penalties: Talk About It!

While most T1 returns are in the hands of the Canada Revenue Agency (CRA) by April 30, we know many are not. In fact, millions of returns were still outstanding as of mid-May. Late-filing clients they need to know about the consequences, especially if they owe. Here’s a rundown to be aware of:

Family business succession is the topic at the November Distinguished Advisor Workshop – and it’s an important one – as by the end of this decade it is estimated that over 350,000 business owners will be over the age of 55, and within ten years over half a million business owners will exit their businesses, according to a report in 2013 by CIBC World Markets.  

Very few people have any training to help them be the best Powers of Attorney of they can be. Now advisors and their clients can learn how in a half day session hosted by top lawyers in this field.

SURREY, BC. Knowledge Bureau, a national financial educator and Kwantlen Polytechnic University have partnered to offer essential business skills to new and graduate students in the lower mainland of BC this fall.

Regulatory burdens for businesses are becoming less taxing in Canada, according to a 2014 study by PricewaterhouseCoopers, which analyzed the ease of paying taxes in 189 countries. 

Should the threshold for making quarterly tax instalments be raised above $3000? Why or why not?

As of July 2013, OAS recipients can elect to defer taking their OAS pension for up to five years. This would provide for a larger pension then.