Canadian Dental Care Plan Renewal Deadline Approaches

Know Your Client!   It’s a daily commitment and requirement, especially in the work that financial advisors do with their clients.   It’s imperative that you ask about any significant changes in their lives. Has there been a significant new event:   a move to take a new job or go to university, a marriage or divorce, a new birth, a disability or a death? And, in the case of income tested benefits such as the Canadian Dental Care Plan, (CDCP) do they qualify?  Did they file their tax return on time to get it?  Do you know the deadlines for doing so?  Do you know when coverage ends if your client now longer qualifies?

What did the April 19, 2020 Federal Budget tell us about required new approaches to retirement planning? Rising inflation is a new concern, and this requires a reworking of retirement projections, as well as projections for the funding of ongoing needs of survivors and heirs.  More specifically, there are two tax provisions to take note of:

An astounding 98% of Knowledge Bureau poll respondents have given CRA’s service standards a thumbs down this year. It’s not too late for you to weigh in, too and share your thoughts on the question: “In your view, has CRA’s service level to professional tax advisors improved this year?”

As your clients enter the 2nd half of their retirement years, there are many significant issues that begin to emerge such as illness, cost of care and loss of capacity for key decision makers. Without careful planning, years of effective decision making can be easily undone through increased costs of care and potentially increased costs of taxation.

There are three secrets to building a brand:  knowing your story, building a network, and sharing that story with your network.  On May 26th, we are giving you an exclusive opportunity to do so with a national networking opportunity. But there is one catch:  you will need to be prepared to have fun and build your professional connections.   

Doug Buss, RWM™ shares why he loved the RWM™ Designation program:  "It was a wonderful revitalization of the value that we are bringing to our clients." Get to know more about Doug, a Winnipeg native and outstanding sax player, too!

The April 19, 2021 Federal Budget is noteworthy for its length –731 pages in all –and its capacity to introduce billions of dollars of spending,while at the same time increasing tax complexity for individual filers. It also significantly enhances CRA’s digital footprint with new broad-based electronic filing measures. In introducing the measures, the government will focus on several key economicand social prioritiesincluding the national rollout of a $10-a-day childcareprogram and a $15 per hour minimum wage in the federally regulated private sector.