Tax & Strategy
Strategies for Canadians Amid U.S. Tariff Changes
Another week, another round of tariff talk between the U.S. and its trading partners. If you’re wondering what that actually means for your wallet, your car, or your job—let’s break it down. The U.S. recently reintroduced tariffs (taxes on imports) on certain automotive parts. There was a one-month pause, but that didn’t lead to any…
Uncertainty Around Proposed Capital Gains Tax Changes in Canada
Earlier in 2024, the Liberal government proposed significant changes to Canada’s capital gains tax rules. The plan aimed to increase the capital gains inclusion rate from 50% to 66.67% for corporations and trusts and introduce a higher inclusion rate for individuals on annual capital gains exceeding $250,000. The changes were set to take effect starting…
Exploring Alternatives to Income Tax : Paths to a More Modern, Balanced, and Equitable Tax System in Canada
Income Tax has become a staple of modern society, with the proceeds helping to fund essential services and infrastructure. Its roots stretch back centuries but, in Canada’s case, it was only implemented in 1917 as a temporary wartime initiative. Before the introduction of income tax, the bulk of Canada’s revenue came from taxes on imported…
It’s Beginning to Look a Lot Like …. End of Year Planning
Well, it is officially November, which means that the weather is changing and you are probably thinking about travelling to a beach somewhere. November also means that you should start to think about things that need to be completed before the year is over or early next year. Several deadlines that come to mind for…
High Inflation & the Argument for Delaying the Payment of “Good” Debt
Unless you have been living under a rock in 2022, you will have first-hand experience dealing with the level of inflation that is plaguing many developed nations. Canada’s inflation rate, currently 6.8% based on April’s metrics, is the highest level since January 1991. Inflation, in a nutshell, is defined by the lost value of currency…
New Year Checklist
As the calendar flips over another year, it should signify a time to do a quick financial & estate check. The first thing to check is the beneficiaries on your investment accounts, company pensions, and insurance policies. This is something that should be updated whenever something materially changes in your life but, you know how…
Finance RX 