Conventional wisdom suggests that RRSP season is the busiest time of year for the financial services industry. This year though, more and more advisors say the weeks leading up to the March 1 deadline was hardly a time of stress or concern. In fact, RRSP season sounds like a relatively relaxed affair for planners with […]
Canada’s insurance regulators are looking at ways to protect whistle-blowers against retaliation, such as civil actions. The Canadian Council of Insurance Regulators (CCIR), an inter-jurisdictional association of insurance regulators, released a discussion paper at the end of 2005, entitled Privilege and Whistle-Blower Protection, asking for comments from industry stakeholders. The paper proposes new rules that […]
Doctors and dentists in Ontario have a relatively new option at their disposal for income splitting and other tax planning strategies. At the end of 2005, the Government of Ontario expanded ownership rules for doctor and dentists’ professional corporations that give those clients the right to issue non-voting shares of the corporation to family members. […]
AIC Limited and its Berkshire Group subsidiary have each spun out a new company to specialize in structured products. The two companies — Copernican Capital and Markland Street — are currently in the IPO stages of launching new products for retail clients. Copernican first announced its plans to launch the Copernican World Banks Income and […]
Trying to help students out during tax time is not the most productive use of time from a practice profitability point of view, but the effort spent serving your client’s children can pay dividends down the road. H&R Block Canada released a sheet of tax tips for students this morning, listing different facts and strategies […]
RRSP season brings out the best and the worst in clients. Many have old questions — wondering if they should top up their RRSP or instead put the money towards their mortgage, save for a down payment on a house or pay more to their children’s education funds. In the current interest rate environment, others […]
In the final days of the Liberal government, members of parliament and the senate pushed through an interesting bit of legislation that could have a significant effect on retirement planning strategies for business owners. The Wage Earner Protection Program Act was given royal assent on November 25, 2005, without public consultation or amendments, just two […]
The economic stars could be aligning to make 2006 a profitable year for financial planners. The overall picture painted by analysts in the Winter 2006 edition of the Conference Board of Canada’s quarterly newsletter, Inside Edge, suggests the housing market will pull back to more sustainable levels and the U.S. economy could provide some interesting […]
The new Conservative government was sworn in at 11 a.m. this morning and industry forces are already vowing to lean hard on Jim Flaherty, the country’s new Finance Minister. Days before Stephen Harper was sworn in as the 22nd prime minister by Governor General Michaelle Jean at Rideau Hall in Ottawa, reports in the Globe […]
Advisors and tax planners are facing a number of new planning opportunities once the new minority government begins enacting election promises and proposed changes to the Income Tax Act. Two of the biggest Conservative promises include plans to essentially scrap capital gains taxes and to reduce the goods and services tax (GST). Although Liberal plans […]