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Don’t Procrastinate – Be Prepared
Why Do We Procrastinate on Building a Financial Plan and Fail to Follow Through? It’s common to think of financial planning as something you’ll get to one day in the future. Often, it’s not until we face some sort of financial emergency or urgent situation that we realize we’re not as financially stable as we…
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There Is No Replacement For A Human Planner
When you work with a Financial Planner you are working with an expert who provides the “human touch” – which is so much more relevant and important than ever for Canadians dealing with increasingly complex lives and financial decisions. Your Financial Planner can help navigate through conflicting priorities, tough money decisions and help you deal…
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New Commuted Value Regulatory Changes
Effective December 1, 2020, regulators will be making changes to how the commuted value of a Defined Benefit Pension Plan will be calculated. The Canadian Institute of Actuaries (CIA) reviews and updates its guidance on a periodic basis. The last major update to the Commuted Value (CV) standards was in 2009. There are 2 major…
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Realtors, Taxes and Retirement – Bill 145
Realtors in Ontario can now incorporate and pay themselves through that corporation. Significant tax advantages can now accrue to essential professionals for all the risk assumed by self-employed, commission-based registered brokerages, brokers and salespeople. Elements of the “Trust in Real Estate Services Act, 2020” will protect consumers and real estate professionals with strong rules and…
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CEBA Loan – Feed Qualification
More information has been released by CRA around eligible non-deferrable expenses that may allow your business to now qualify for the Canada Emergency Business Account (CEBA). In addition to the originally noted categories for non-deferrable expenses, Canada Revenue Agency now includes payments incurred for materials consumed to produce a product ordinarily offered for sale by…
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Agriculture Matters: AgriBusiness Economic Program
Due to COVID-19, the application deadlines for AgriStability and Risk Management Program (RMP) have been extended to July 3 and June 30 respectively for the upcoming year.
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Measures to Keep Employees Employed
We’ve compiled a list of measures, with the April 1st Government of Canada updates, that focus on employers keeping workers employed.
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Market Volatility – What A Difference A Week Can Make
Last week’s market ups and downs resulted in the index being flat for the week. Many clients have asked IAIC about the similarities to the financial crisis of 2008/2009 and the Coronavirus, in comparison, is likely to temporarily reduce general global economic activity.
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Coronavirus and Market Volatility
The Independent Accountants’ Investment Counsel Inc provides an update on the investor reaction to the unfolding Coronavirus (COVID-19) story which has caused significant market volatility.
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2019 Tax Season: Time to get Organized!
Prepare early by organizing documentation with our 2019 Personal Income Tax Checklist well in advance of the tax deadlines! Also, review reminders about deadlines and common tax credits.
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Possible Increase to the Capital Gains Inclusion Rate
In recent years there has been speculation that the Federal government would increase the capital gains inclusion rate from the current 50% up to 75%. This increase in the capital gains inclusion rate could occur as early as the upcoming Federal Budget, which is expected to be released in the coming month or two.
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Year End 2019 Newsletter
Accounting Human Resources Solutions Wealth Management Company News Separation/Divorce Tax Issues When there is a breakdown in a relationship, your personal income tax situation can be significantly impacted. It is essential to inform the CRA and your accountant or tax advisor as early as possible about the status change, including the date of separation. It…
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