News

The DB pension plan business model has failed – and everyone is paying the price

Brent Simmons Contributed to The Globe and Mail Published September 10, 2019 Brent Simmons is Senior Managing Director & Head, Defined Benefit Solutions at Sun Life For the past 20 years, many private-sector companies across Canada followed the same risky strategies for their defined-benefit (DB) pension plans as they did in previous decades. Unfortunately, over

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CRA updates principal residence folio

With the price of real estate skyrocketing, Ottawa is concerned that Canadians are accessing the PRE inappropriately By: Rudy Mezzetta Source : Investment Executive August 23, 2019 00:27 The Canada revenue Agency’s (CRA) revised principal residence exemption (PRE) reporting rules, introduced three years ago, are changing the way Canadians think about a tax benefit that

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2019 Brings Lower Taxes for Small Businesses and More Help for Canadian Workers

News release December 20, 2018 – Ottawa, Ontario – Department of Finance Canada Every day, in communities all across the country, Canada’s small business owners and entrepreneurs work hard to grow their businesses and create the jobs that middle class families rely on. Collectively, small businesses now account for about seven out of 10 private

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Phil Heisz Elder Planning Counselor

Press Release PHILIP HEISZ Qualifies as a Member Of “Elder Planning Counselor” Program TORONTO, ON – A nationally recognized designation, was conferred on Philip Heisz after successfully completing an intense and rigorous test of knowledge regarding current seniors issues.  The “Canadian Initiative for Elder Planning Studies” (CIEPS) course was established as a standard of service

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When the CRA calls:

Jamie Golombek on his 10-month, transit pass reassessment saga Don’t panic if you get a plain brown envelope from the CRA — but some frustration may be unavoidable Originally posted Financial Post website. If you recently received a letter in a plain, brown envelope from the Canada Revenue Agency, chances are it was because your

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CRA SCAM ALERT



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In Defense of RRSPs

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CRA to Tax Registered Investment Fees Paid From Open Accounts

Originally posted on  Advisor.ca By Melissa Shin If your clients pay their registered-account investment fees from open accounts, revisit that practice with them now. At the November 2016 Canadian Tax Foundation Conference, CRA told attendees that paying registered plan fees from non-registered, or open, accounts, will incur a tax penalty equivalent to the fee. CRA

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Federal Liberals eye tax on private health

Originally posted on National Post December 2, 2016 by John Ivison Federal Liberals eye tax on private health and dental plans, a move that would take in about $2.9B The Liberal government is considering taxing private health and dental plans, in a measure that would raise about $2.9 billion, sources say. As many as 13.5 million

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