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Tax Tools: Special Report on Taxes 2015

In this special feature: Timely RRSP and RRIF withdrawals; fixing errors on tax returns; helping your clients choose tax-preparation software; and much, much more from the Mid-October 2015 issue of Investment Executive.

October 8, 2015

Timing and yearend tax planning

Several tax strategies result in greater savings when executed near the beginning or the end of a calendar year. These tips can help you to ensure your clients meet deadlines and get the most from tax-saving programs

  • October 8, 2015 October 8, 2015
  • 23:00

Matching clients with tax-filing software

The shift to digital filing means your clients will be searching for software applications that meet their particular needs. There are plenty of packages out there, and you can help your clients make the right choice

  • October 8, 2015 January 22, 2018
  • 23:00

Getting it right, or fixing it

Mistakes on income tax returns are common, as are objections to CRA assessments. You can help your clients prevent and fix errors and omissions in their returns - and advise clients about what to do when assessments go against them

  • October 8, 2015 October 8, 2015
  • 23:00

Avoid missing medical expenses

Many taxpayers miss the full range of medical expenses they can claim, expenses that can reduce their tax bill significantly. But the CRA often challenges such claims, so proper documentation is essential

  • October 8, 2015 October 8, 2015
  • 23:00

Probate more costly in Ontario

Estate executors now will be required to file a new form estimating the value of an estate - with supporting documention. Failure to file or making false statements may lead to fines, penalties and even imprisonment

  • October 8, 2015 October 8, 2015
  • 23:00

A window of opportunity

The rules governing how much tax-free cash a client can hold in a permanent life policy are changing. But advisors who act now may be able to help their clients benefit from the existing rules for years to come

  • October 8, 2015 October 8, 2015
  • 23:00

Global hunt for tax evasion widens

Partly in response to the U.S.'s FATCA initiative to collect taxes from its citizens who live abroad, 60 other countries, including Canada, have signed on to the Common Reporting Standard, which creates an international tax-collection system

  • October 8, 2015 October 8, 2015
  • 23:00

The unexplored potential of TFSAs

Often viewed as a simple savings account, tax-free savings accounts have new, higher limits and cumulative contribution room. But taxpayers who pile up large sums quickly should beware the CRA

  • October 8, 2015 October 8, 2015
  • 23:00

Lower taxes on donations

New rules proposed for proceeds from the sale of shares and real estate to be donated to charities

  • October 8, 2015 October 8, 2015
  • 23:00

Most provinces hold the line on taxes

With most regions still fighting deficits and facing murky economic forecasts, provincial governments have imposed only minor increases in taxes - or none at all

  • October 8, 2015 October 8, 2015
  • 23:00