News
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
Read MoreFederal 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
Read MoreTop tax credits and benefits for seniors
January 18, 2017 Use this list to help your senior clients ensure they claim the most common tax credits, deductions and benefits for which they’re eligible. Read: Essential tax numbers Pension income splitting — Those who receive a pension may be eligible to split up to 50% of eligible pension income with a spouse or common-law partner. Guaranteed
Read MoreNew Rules for Principal Residence Exemption
In part one of a three-part series about year-end tax planning, Jamie Golombek, managing director of tax and estate planning with CIBC Wealth Strategies Group, explains how the changes to the principal residence exemption will affect every Canadian. Click here to register for Golombek’s 2016 Year-end Tax Planning webinar.
Read MoreFinancial Information
General Financial Information and Financial Literacy Resources: The website, “Get Smarter about Money”, is operated by the Investor Education Fund – a non-profit organization founded by the Ontario Securities Commission – that provides unbiased and independent financial tools to help consumers improve their financial literacy. Click on the link below to access the information: http://www.getsmarteraboutmoney.ca
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