Home News Industry News

Latest news in Industry News

Light bulb

Financial planning app launches behavioural feature to help with goals

Also in this tech roundup: Equisoft partners with Life Design Analysis

Tread carefully

Quirk in capital gains tax rules raises risks for incorporated clients

A company could face 60% tax on unintentional payout of excess amounts from its capital dividend account

Advisor tracking stocks

Don’t reimpose foreign asset limits on registered plans, IFIC tells feds

Finance’s qualified investments consultation asked for suggestions on how to promote Canadian investment

Modern urban skyscrapers in downtown Chicago from below to the blue summer sky. Sun reflecting in the glass facades of the urban futuristic buildings. Chicago, Illinois, USA

Big banks must boost capital under now-delayed reform

DBRS estimates $27 billion in capital needed to keep ratios at current levels

Exterior of CRA headquarters building

Can the feds avoid repeating the bare trust debacle?

Joint tax committee will ask Finance to change the existing legislation

Two happy carpenters shaking hands with senior customer after successful agreement in a workshop.

Employee ownership trusts take shape

Federal government passed new rules and incentives for EOTs in June

Exterior of CRA headquarters building

Taxpayers’ Ombud to examine CRA’s bare trust administration

Agency received more than 52,000 bare trust returns for 2023, despite issuing last-minute filing exemption

Canadian Parliament in Ottawa

Liberal tax promise tracker, post–capital gains edition

A look at the status of major tax proposals from the Trudeau government

Couple doing taxes

How should trusts flow out capital gains to beneficiaries in 2024?

Trusts must disclose pre- and post-June 25 gains or face negative tax consequences

Red alert

Tax advisors on high alert as revamped GAAR takes effect

The revised anti-avoidance rules represent a shift in the CRA’s approach

senior couple feeding birds

Aging at home benefit, GIS boost among gov’t panel recommendations

The benefit could delay or prevent premature transfers to a long-term care setting, panel says

home sale

FHSA carryforward rules: everything you need to know

RRSPs and TFSAs have different rules, which can be confusing

Air raid sirens

‘Stable’ financial state has been achieved, Advocis says

With cash flow stabilized, the national association for financial advisors is planning for recovery

CRA signage

Legal action coming to recover Covid benefit overpayments: CRA

Actions may include taking payments from wages or bank accounts

disability services

Disability tax credit key to accessing range of benefits

Feds announce that adults with a valid DTC certificate can apply for new dental plan

Manulife head office building in Toronto, Canada. Manulife is a Canadian multinational insurance company.

Manulife boosts key profit target at investor day in Hong Kong

Insurer has been working to shed assets with a low return on equity

Canadian Parliament Building at Dusk

Liberal government’s proposed capital gains tax changes come into effect

The measure proceeded despite significant pushback from business and physicians' groups

National Bank

How the National Bank deal could affect wealth management

Acquisition of Canadian Western Bank could also boost National Bank Independent Network

Canadian flag

Macklem sounds alarm on low productivity growth

Making Canada a better place to invest is critical, BoC governor said

saving money

Millennials have most unused TFSA room: CRA

Canadians hold $524 billion in their TFSAs, according to new CRA data

House of commons

Revised AMT, intergenerational business transfer rules now law

Budget implementation bills C-59 and C-69 received royal assent late Thursday

Guardian Capital to acquire Toronto investment manager

Acquisition to add over $1 billion to Guardian’s AUM

Desjardins complex

Fiera Capital buys its shares back from Desjardins

Transaction is valued at $53 million and follows an April announcement from Desjardins

man opening curtain to reveal something

Fidelity launches advisor platform

Fidelity to target retiring advisors and transition books of business to in-house force

Elder couple planning

Capital gains reserve more beneficial after inclusion rate hike

Clients may be able to use the $250,000 threshold over multiple years