News Room

Finance Canada Drops Draft Legislation August 15

All professional tax practitioners, financial advisors should take note of an important mid-summer release of draft legislation to implement some of the proposals from the November 2024 Fall Economic Statement, the April 2024 Budget, the EIFEL rules announced on August 12, 2024, and rules relating to passive income of foreign affiliates announced in the 2022 federal budget.  This draft legislation also introduces more modifications to new trust filing requirements. Brief highlights appear below;  technical details will be discussed in the September 17 and November 5 CE Summits and Knowledge Bureau’s certificate course on T3 Filings. 

Family Tax Cut – Don’t Waste Credits

The Family Tax Cut can change the way we think about which spouse should make the RRSP contribution. 

Notice of Assessment by Online Mail

CRA is asking tax preparers to get email addresses and direct deposit information for their clients this year, but the process of retrieving the Notice of Assessment is less than clear.

Where’s the Money?

Everyone anticipates bad news on Friday the 13th, but on February 13th, 2015 Statistics Canada actually released some good news! 

It’s the male seahorses that have the babies….

Find out about this and more at the 2015 Distinguished Advisor Conference (DAC).

June Distinguished Advisor Workshop - Transition Planning: Trusts and Estates

Substantial tax reform has recently changed the rules for post-death planning for high net worth families.

Recently Retired? Tax Filing Can Be Complicated

Recently retired?  There are many new provisions on the tax return that could apply to couples  for the first time, so filing early and with qualified professional help can be important. How you treat private pension income and Old Age Security benefits, for example, can have many positive tax outcomes.
 
 
 
Knowledge Bureau Poll Question

A public consultation on whether the CDIC’s deposit insurance limit should be raised to $150,000 per deposit category is underway. Do you agree?

  • Yes
    79 votes
    92.94%
  • No
    6 votes
    7.06%