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Canada Parliament and Canadian Flag over blue sky.

Bare trusts exempted from 2024 filing requirement

Department of Finance proposals would also reduce the number of people who must file a bare trust return, starting in 2025

Feds expand eligibility, drop founder requirement for Canadian Entrepreneurs’ Incentive

Many businesses remain shut out of tax break on increased capital gains inclusion rate

House of Commons in Ottawa

Troubling quirk in capital gains rules addressed in draft legislation

Clarifications concerning the capital dividend account are welcomed by tax practitioners

Downtown Toronto Financial District Skyscrapers stock photo

Feds could outlaw large bank mergers

Government releases consultation paper that also covers external security threats, AI risks

Judge looks at papers

Court orders Emerge Capital Management to repay employees who lent it money

Cheques for partial repayment to Emerge Canada employees bounced: court documents

Sun Life logo on a building

Sun Life says its net income slipped in Q2

The company says its AUM stood at $1.47 trillion at quarter end, up $98 billion from last year

Laurentian bank logo on building

CI acquires Laurentian’s discount broker division

Deal includes about 2,050 clients and $250 million in assets

Scotiabank

Scotiabank signs agreement to buy stake in KeyCorp

The Canadian bank will pay a total of about US$2.8 billion for a 14.9% stake in the company

Former CFO suing RBC for $49M in wrongful dismissal claim

RBC announced on April 5 it had fired Nadine Ahn, Ken Mason after an internal review

Piggy bank on calculator

IGM Financial assets up in Q2 amid outflows

Capital gains changes heightened fund sales and redemptions in June, firm said

  • By: IE Staff
  • August 9, 2024 August 9, 2024
  • 14:54

Canaccord’s capital markets business picks up in latest quarter

Firm’s global wealth management operations set quarterly revenue record

Wellington-Altus acquires ICPM business in Ontario

Wickham Investment Counsel Inc. adds just over $200 million to the firm's assets

Business partnership meeting. Picture businessmans handshake. Successful businessmen handshaking after good deal. Horizontal, blurred (Business partnership meeting. Picture businessmans handshake. Successful businessmen handshaking after good deal. Ho

CI buys two U.S.-based RIAs with $8.1B in combined assets

Wealth management firms based in Florida and North Carolina serve ultra-high-net-worth clients

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

Manulife reports relatively flat income in Q2

Better market performance was offset by sizable loss on sale of debt instruments

Bank of Canada note

Weakening job market was on BoC’s mind as it cut interest rates

Deliberations summary suggests governing council wants the economy to pick up speed again

Stock market

TMX buys Canadian newswire, filing service

Exchange aims to boost corporate services with deal

Insurance

Great-West Lifeco Q2 net earnings hit $1 billion

Earnings roughly doubled from last year, aided by interest rates and lower expenses

Young worried woman with empty piggy bank

Advocis owes $2M to its contingency fund

The loan is repayable with interest

CRA signage

Changes to capital gains tax will rake in $2B less than projected: PBO

The Parliamentary Budget Officer estimates $17.4 billion in tax revenues arising from the increased capital gains inclusion rate

Advocis ends 2023 with working capital deficiency but a brighter outlook

Association has made no provision for $2.6 million in ongoing legal claims

CRA signage

CRA to charge 9% interest on overdue tax through second half of 2024

Prescribed rate for fourth quarter to match third-quarter rate

Hand holding a light bulb

IAFP to adopt fiduciary standard for RFP designation holders

Measure to be in place for 2026 renewals

Tax reduction and deduction for businesses and individuals. Concept with hand turning knob to low taxation rate. Return form, exemptions, incentives.

Challenges planning for revised AMT given proposed CGIR increase

Clients with significant capital gains in 2024 face uncertain tax exposure

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