Canadian Dental Care Plan Renewal Deadline Approaches

Know Your Client!   It’s a daily commitment and requirement, especially in the work that financial advisors do with their clients.   It’s imperative that you ask about any significant changes in their lives. Has there been a significant new event:   a move to take a new job or go to university, a marriage or divorce, a new birth, a disability or a death? And, in the case of income tested benefits such as the Canadian Dental Care Plan, (CDCP) do they qualify?  Did they file their tax return on time to get it?  Do you know the deadlines for doing so?  Do you know when coverage ends if your client now longer qualifies?

After the highly acclaimed DAC 2016 in San Diego, the location of the 14th Distinguished Advisor Conference (DAC) was announced. Following tradition, advisors will be visiting a retirement haven that their clients frequent; this time in beautiful Kelowna, B.C., November 5-8, 2017.

With the U.S. election results and the subsequent crash of the Canadian immigration site, now is likely a great time to brush up on the rules for cross-border taxation and for U.S citizens living in Canada. Knowledge Bureau covers the subject in its online Cross Border Taxation Course and will also devote a half day to the subject in the May edition of the Distinguished Advisor Workshops.

"I always like to look on the optimistic side of life, but I am realistic enough to know that life is a complex matter." Walt Disney

The Trump win in the US provides an opportunity for professional financial advisors and their clients to come together and review strategies for meeting financial goals in anticipation of global change.  Having a great Plan “A” for financial decision-making is critical anytime; but in times of great change a smart and insightful Plan “B” can make all the difference in getting the right long term results.

Are you managing your assets with tax efficiency?  This year make sure both you and your spouse review your personal net worth statements to ensure your tax advantages are taken advantage of.  Here are three tips to consider.

This is the time of year that high net worth clients are looking for one more tax saving opportunity before year end.  Donations of flow-through shares, commonly available from corporations in the oil & gas, mining and renewable energy sectors, will still be allowed. However, many tax and financial advisors will want to brush up on their knowledge of the subject first.