One of the purposes of estate planning is for you to be able to clearly communicate who you want to make personal decisions for you should you be unable to do so for yourself. In the event of medical or psychological conditions, you may not be able to communicate your decisions so being prepared for this event as well having the proper documents in place is extremely important. In a previous blog (ESTATE PLANNING: WHEN YOU ARE UNABLE TO ACT FOR YOURSELF), we mentioned you can authorize someone to act for you through a power of attorney. In Alberta, we have...
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The CRA recently released highlights from their Corporate Planning with their commitments to Canadians in respect to tax services. 1. CRA commits to providing timely and accurate information through written correspondence or their telephone services. • By May 2019, the CRA’s goal is to complete improvements to the design, style, clarity and tone of 95% of their written correspondence to Canadians. 2. CRA commits to making it easy to comply with tax obligations. • By December 2018, the CRA plans to allow taxpayers who use GST/HST Internet File Transfer software to register for online mail. • By May 2019, the CRA...
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In the event you were to pass away, having an organized set of personal records will be extremely valuable to your surviving family members.  It is important that they know where these records are kept and that they are organized in such a way that they will be able to find documents as quickly as possible.    Investors Group (investorsgroup.com) has listed a number of personal records that you should keep in the event that you pass away for the purpose of assisting your remaining loved ones.     1. People to contact – including next of kin, executor, employer and lawyer...
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Canadians are invited to provide their comments regarding a set of draft legislative proposals relating to sales, excise and income tax measures announced in Budget 2018 that have not yet been legislated as well as one other previously announced tax measure. Proposals related to sales and excise taxes would implement measures regarding:- The excise refund in respect of diesel fuel used for certain purposes;- The GST/HST holding corporation rules;- The GST/HST rebate for printed books for qualifying public service bodies;- Reassessment periods – requirements for information and compliance orders; and- The sharing of information relating to criminal matters. The draft income...
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