The CRA is targeting advisors who appear to be engaging in high-frequency trading and day trading to boost their TFSA earnings. Some advisors say the audits are unfounded and more clarity is needed on the rules
This delay represents a win for industry associations and clients who pay fees on their registered plans from non-registered accounts
The federal tax agency also delays implementing registered fee position
One-third are still not aware of the tax penalties associated with over-contribution
Canadians who work with an advisor are much more likely to take advantage of tax-registered plans such as RRSPs and TFSAs
Report debunks common myths behind the recent decline in RRSP contributions
As TFSAs surpass RRSPs in popularity, both vehicles have their place in retirement planning
Thirty per cent of taxpayers contributed to a TFSA in 2015
Canada's tax agency is taking a closer look at accounts with significant balances - and is considering other factors - to determine whether accountholders should be deemed to be carrying on a business
There are several factors that must be taken into account when determining whether a taxpayer’s gains from securities constitute carrying on a business