Bill C-31: Royal Asset and New CRA Powers Could Come Soon
Changes are coming to the Income Tax Act and both you and your clients will all be affected with new tax risks including longer tax audits. Bill C-31, which passed second reading in the House of Commons on June 3 and is now at committee stage, contains elements of previous Federal Budgets that will expand the CRA’s compliance and enforcement powers. Here’s what you need to know and pass along to your clients:Take Use of Trusts in Tax and Estate Planning for Summer School
Planning with trusts is becoming more and more common and if you can’t answer questions and explain the concept, your clients will find someone who can. Learn the pros and cons of all possible solutions for wealth and succession planning and earn a long-term and potentially intergenerational connection to your client and their family.
