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. 

DAC 2015 is Heading to Puerto Vallarta, Mexico

Have you reserved your spot at the 2015 Distinguished Advisors Conference (DAC) yet?  

Knowledge Bureau Designate Highlight: Faline Linstone

Faline Linstone from Kamloops, BC recently completed the T1 Professional Tax Preparation - Basic course to upgrade her qualifications, and she met all of her objectives.

Illness In the Family? The Tax System Provides Relief

This is a good time of the year to discuss family health – with your tax advisor! 

New Trust Legislation Enacted

Advisors should inform their high net worth clients of recently enacted changes to tax benefits arising from the use of trusts. 

CPP – Now or Later?

One of the more difficult decisions for those approaching retirement is when to start receiving their CPP retirement pension. 

Foreign Income Verification Reporting – Form T1135 (Part 2)

Last week we covered Foreign Income Verification Reporting, Form T1135 in general along with the basic requirements of foreign holdings reporting.  This week we’ll look at the form in detail and cover some of the specific reporting requirements.
 
 
 
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%