Make robots pay taxes? Documents detail ideas to adapt to changing labour force – iPolitics.ca
Due to technology, the modern workforce is ever changing. Today in the “gig” economy, there is more part-time and short-term contract work, in addition to automation replacing human workers. These changes in the workforce would mean fewer taxes paid into the country’s federal finances. To counteract reduced revenues, the government is considering a proposal to […]
Read MoreWhat CPP reforms mean for Canadian seniors
Two years ago, the government expanded the CPP. It was a much-needed restructure to a system that has had no revisions in fifty years. Here are some of the changes. It will give equity to all seniors, but due to the complex tax structure in Canada, the study found 42 percent of the new CPP […]
Read MoreWhat you need to know about the tax consequences of earning and spending loyalty points
In Canada, there can be tax requirements involving bonus points if the points are a result of business travel, or you purchase business items and get reimbursed for them. If you get cash from the points or the points are a form of employee payments, they are subject to tax. How do you know how […]
Read MoreWhat investors should know before buying into an IPO
Investing in an IPO can be lucrative, but it’s not without its risks. Any investor looking to put their money into a new company needs to be prepared to read the prospectus and consider some key factors before making a decision. One factor is to assess whether the company has the capacity to keep growing. […]
Read MoreSelling your home tax-free may be more complex than you think
The Principle Residence Exemption (PRE) has been used as a tax-free way for Canadians to sell their homes, as long as it’s not for business profits. Properties included in this exemption can range from condominiums to house boats. It can even be outside of Canada, but you have to prove that you live there, even […]
Read MoreCan you get survivor benefits from an ex-spouse?
A question arises if you split your pension credits with your ex-spouse and then if that person dies, what happens to the credits? For federal employee pensions, the living spouse is entitled to survivor benefits if you were only legally separated, and so in this case, he would receive 50% of her pension. If you […]
Read MoreBig credit card firms agree to cut fees they charge merchants
Ottawa has reached five-year deals with Visa, MasterCard and American Express to cut fees by about 10 basis points. In 2020, fees that are collected from businesses will be reduced. Some people had hoped that Ottawa would lower the rate a little more, given that this is only a very small step considering what could […]
Read MoreHow charitable remainder trusts let you provide for heirs while doing some good
Your financial legacy can be set up to help provide an income for your heirs as well as a donation to a charity at the same time. You can do this by setting up a Charitable Remainder Trust (CRT). Your heir receives an income from the trust and has a “life interest” in the trust. […]
Read MoreThe pros and cons of bootstrapping your company
Bootstrapping, or self-funding your company can be a good idea when starting, but it can have its drawbacks as well. It forces you to work within a budget and be more proactive in your marketing strategies. But, you may not be able to hire consultants, increase risk and you’ll likely grow at a slower pace. […]
Read MoreAvoid tax traps when opening a joint investment account
Depending on the reason for changing an investment account from an individual to a joint account, the change can have unintended implications due to spousal attribution. This won’t happen when opening a new joint account. But if you transfer capital assets to your spouse inside a joint account, then attribution will generally apply, and the […]
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