Knowledge Bureau Poll: Tax Cut Doesn’t Cut It!

The Notice of Ways and Means Motion was released on May 27, but the 1% tax rate cut going into effect on July 1, didn’t cut it with Knowledge Bureau Report readers who responded to our May Poll.  A decisive 90% of respondents said “No” when asked: does the new government’s promise to cut the lowest personal income tax rate by 1% to 14%, (14.5% in 2025) go far enough to help Canadians impacted by high costs?  Here were their comments and suggested alternatives based on real life experiences with the after-tax income their struggling clients are left with:

So, you have identified a business that you would like to acquire, but you are not sure which method you should use to do so, and how to best structure the deal to best avoid the tax man.

To cushion errors in contributions due to fluctuating RRSP room, an over-contribution limit of $2,000 is allowed without penalty, provided you are at least 18 in the preceding taxation year.

Knowledge Bureau is pleased to be a sponsor at the IPBC convention being held September 20-22 in Mississauga, Ontario.

Canada may be the most expensive place in the world for money management. Fees matter more when the market is not performing well—and no investment product performs well all the time—so you can’t tie your value proposition to the whims of the markets.

Featuring Evelyn Jacks, Larry Frostiak and sponsor Cameron Peters of TaxCycle, Knowledge Bureau is proud to give you everything you need to know about corporate tax filing for micro businesses in this comprehensive one day workshop. 

Be inspired by 50 outstanding Canadians as they tell their stories—the tough, and at time tragic, challenges they faced and the life lessons they learned as they came through the other side. A must-have guide for young leaders, parents, business executives and bright stars everywhere.