Make sure clients know the tax implications of overstaying
From time to time, the issue of the dreaded clawback of the Guaranteed Income Supplement (GIS) or Old Age Security (OAS) benefits rears its ugly head in Tax Court when an irate—and often confused—taxpayer challenges the government’s decision to suddenly reduce his or her government benefits based on a one-time unusual income event the prior year.
The true cost of debt—to truly help clients understand, advisors need to factor in taxes
For at least a decade, there have been organizations and individuals who have promoted the natural person argument which suggests that natural persons are not subject to the Income Tax Act.
Retirement compensation arrangement could provide flexible pension plan. Eighty percent of small business owners will either sell or pass on their businesses to heirs over the next 10 to 15 years.
Can a payment before retirement be a retiring allowance? Our company’s information line has received a string of similar inquiries from advisors in the same locality recently. The issue is the tax treatment of certain employment related payments.
The federal government has proposed changes to the Income Tax Act provisions governing real estate investment trusts, which were exempted from the taxation treatment imposed upon other income trusts. “Our government is committed to providing clarity in the application of the REIT rules,” said Finance Minister Jim Flaherty. “These changes take into account constructive comments […]
No matter what they do, financial advisors are going to get sued. And what’s worse is the court is not a level playing field. An ounce of prevention, therefore, is worth a pound of cure, says Ruth Mercer, senior general adjuster for Crawford & Company (Canada) Inc. Speaking to the audience at the Independent Financial […]
Blog Polls The fourth annual Canadian Lipper Fund Awards were handed out in Toronto last night. The Lippers differ from the more established Canadian Investment Awards in that they honour top funds for their performance over multiple time frames. Dynamic Funds was the big winner of the night, taking home 14 “Fund of the Year” […]