Category: Tax News

Tax-News.com: Canada Could Also Face Trump Tariffs

Tax-News.com: Canada Could Also Face Trump Tariffs by Scott Hamilton, Tax-News.com, Washington 17 January 2017 While there has been a concentration by President-elect Donald Trump on warnings of increased import tariffs on Mexican exports to the United States, his spokesman Sean Spicer has indicated that exports from Canada could also be subject to the same

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Category: Tax News

Essential tax numbers

Essential tax numbers You have a lot to remember as an advisor, so we’ve assembled this reference list of tax numbers. We’ll update it as things change. Working clients Maximum RRSP contribution: The maximum contribution for 2016 is $25,370; for 2017, $26,010. TFSA limit: The annual limit for 2016 and 2017 is $5,500, for a

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Category: Tax News

Tax-News.com: Property Taxes To Dampen British Columbia Housing Market

Tax-News.com: Property Taxes To Dampen British Columbia Housing Market by Mike Godfrey, Tax-news.com, Washington 13 January 2017 Foreign investment in the Greater Vancouver property market is expected to drop off in 2017 following the introduction of a new property tax, according to research by Royal LePage. Royal LePage has forecast that property prices across Greater

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Category: Tax News

Tax-News.com: British Columbia Increases Property Tax Break

Tax-News.com: British Columbia Increases Property Tax Break by Mike Godfrey, Tax-news.com, Washington 12 January 2017 The British Columbia Government is to increase the home owner grant threshold to CAD1.6m (USD1.2m), in a bid to “keep property taxes affordable for families.” Finance Minister Michael de Jong said: “This is a 33 percent increase over last year.

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Category: Tax News

Wealthsimple to offer personalized advice, tax help

Wealthsimple to offer personalized advice, tax help Wealthsimple has launched a new pricing structure called Wealthsimple Black for clients who invest $100,000 or more. For those with less than $100,000 invested, Wealthsimple Basic will continue to provide services like a 0.5% management fee, personalized portfolio and on-demand financial advice. Meanwhile, Wealthsimple Black will provide both

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Category: Tax News

CRA tweaks process for accessing online tax info of businesses

CRA tweaks process for accessing online tax info of businesses Do you help business owners clients with their taxes? If so, note that the CRA has changed how you’re able to gain access to a business’ online tax information. The CRA has announced that, as of May 15, Form RC59 will no longer be used to authorize online

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Category: Tax News

Tax-News.com: US Continues Probe Into Canadian Lumber Imports

Tax-News.com: US Continues Probe Into Canadian Lumber Imports by Glen Shapiro, Tax-News.com, New York 09 January 2017 On January 6, the US International Trade Commission (ITC) decided that there is a reasonable indication that the US domestic industry is being materially injured by imports of softwood lumber products from Canada that are allegedly subsidized and

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Category: Tax News

Will 2017 bring changes to the capital gains rate?

Will 2017 bring changes to the capital gains rate? What does Budget 2017 have in store? Kim Moody, director, Canadian Tax Advisory at Moodys Gartner Tax Law in Calgary, makes six predictions on his blog — and several will disappoint people who dislike paying tax. 1. The capital gains inclusion rate may rise Prior to

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Category: Tax News

Tips for teams working with family enterprise clients

Tips for teams working with family enterprise clients When advisors work in arranged teams with complementary skills, they may have developed a charter to define their roles and common goals, a code of conduct for communications, and a method for conflict resolution. They can then draw on these pre-existing structures to deal with any disagreements

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Category: Tax News

Don’t miss these 2017 tax deadlines

Don’t miss these 2017 tax deadlines When it comes to tax season, many people think of March or April. Listen to the full podcast on AdvisorToGo. But good tax planning should happen year-round – and there’s no time like January, says Jamie Golombek, managing director, Tax and Estate Planning with CIBC Wealth Advisory Services. “When

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