June 30 Tax Deadline is Looming for Non-Residents

An important deadline is approaching for non-residents with certain Canadian-source income. June 30 is the deadline to file elected returns under Section 216 (pertaining to rental income) and Section 217 (pertaining to Canadian source pension income). There may be significant consequences for missing this deadline as returns received after this date, generally aren’t accepted. Here’s what you need to know:

Creating opportunities for the financial services industry to thrive despite current and upcoming threats, means recognizing and fostering the development of other innovative, creative and entrepreneurial minds. We’d like you to share your thoughts on our new Executive Business Builders Network.

Brian Dunn, ‎DFA-Tax Services Specialist, on the benefits of the T1 Professional Tax Preparation course:

The Old Age Security monthly benefit is expected to increase to $590.74 in the fourth quarter based on CPI data, for a total 2017 benefit of $6,994.62.

Three-quarters of Canadians say they have saved 25 per cent or less of what they feel they need to retire, according to a Canadian Payroll Association survey. Financial advisors are well-positioned to help.

National income tax is such a given in western economies that we lump it in with death as being unavoidable and portray the “Taxman” as some kind of grim reaper. But, in reality, federal income tax is a fairly recent invention — in Canada, we’ve just now reached the 100-year anniversary of the practice.

Canada now ranks No. 5 globally by share of pension fund assets, according to new research by Willis Towers Watson. What does this mean for advisors and their clients?