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A thorough analysis of today’s financial news—delivered weekly to your inbox or via social media. As part of Knowledge Bureau’s interactive network, the Report covers current issues on the tax and financial services landscape and provides a wide range of professional benefits, including access to peer-to-peer blogs, opinion polls, online lessons, and vital industry information from Canada’s only multi-disciplinary financial educator.

This Week’s Edition of KBR:

November Poll

Financial literacy is the knowledge, skills and confidence to make responsible financial decisions. Do you believe your clients are financially literate?
Yes: 18 votes
21.43%
No: 66 votes
78.57%
 

Cast Your Vote

Essential Tax Facts: Education Planning with RESPs

A Registered Education Savings Plan (RESP) is a tax-assisted savings plan set up for the purposes of funding a beneficiary’s future education costs. It also serves as a way to split income earned in the plan with the beneficiary, who will be taxed at a lower rate than the contributor, as a general rule, when earnings are withdrawn.

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Economic Resilience: 10 Issues to Discuss with clients

Does the Canadian economy have the resilience to compete through what is projected to be a prolonged economic downturn? Why does the answer matter so much? Because financial advisors, tax preparers, bookkeepers and others in the financial services are being challenged to bring new value to old roles.

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Who Will Inherit the Family Business?

Who will inherit the family business? What will it be worth when time for transition comes? Why is this issue so difficult to discuss? It’s important to engage your successful but soon-to-retire business owner clients in strategic planning now, especially if potential economic downturn is on the horizon.

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Tax Facts: Cross-Border Income Compliance

In an increasingly global economy, more and more Canadians find themselves vacationing, owning property, and earning income in the U.S. If your client has financial stakes across the border, it’s important to know the tax implications associated with them. This can include cross border contract work and owning and renting vacation properties.

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Important Consultation Periods End Soon: Changes to ESOP & Annuities

Don’t miss the opportunity to both plan with your high net worth clients, and weigh in with Finance Canada on two important tax changes proposed in the 2019 Federal Budget. The proposals impact employee stock options and annuities. To provide your views diarize the following deadlines and ensure you act soon: September 16 in the case of Employee Stock Option Plans and October 7 for the new annuity options.

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