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?Know Your Client: Can We Improve on the Risk Profiling Process?
Are you providing an evidence-based and unbiased determination of your clients’ risk profile? Unsure? Be sure to register for DAC 2016 to hear Shawn Brayman speak about why this is critically important.
Summer Publishing Schedule
It’s time for a little summertime R & R, so here’s how our publishing schedule will shake out: There will be no issue of KBR on July 6, 27, August 3 or 31. Enjoy the sunshine, because . . . Christmas is less than six months away!
Life Purpose
"Find out who you are and be that person. That's what your soul was put on this Earth to be. Find that truth, live that truth and everything else will come." Ellen DeGeneres
Are Legal Fees Paid To Collect Severance Tax Deductible?
Did you incur legal fees in order to collect money owed to you for severance, pension benefits or a retiring allowance? You may claim those expenses as Other Deductions on the tax return. But there are a few catches.
CPP or TFSA? It’s an Issue of Retirement Security
This week, Canada’s finance ministers met in Vancouver and agreed in principle to the expansion of the Canada Pension Plan (CPP) over a seven-year phase-in period, starting January 1, 2019. Higher contributions by workers and their employers will result. But will the revamped CPP be enough to provide for the retirement security Canadians need?
Underground Economy Grows 3.8%
The Underground Economy grew 3.8% between 2012 and 2013, but is considered “stable” based on CRA’s June 20th revised estimate report for the period 1992-2013. Still, it’s growing at the same rate as the GDP – 2.45% - and is estimated to be close to $46 Billion in size. So who is skirting their tax obligations?
