Tax News

The power of appointment: Who will speak for you?

To not have a voice, to not have a say can be the most helpless feeling of all. Everyone needs to appoint someone to speak for them in case they become mentally incapable and cannot make decisions for themselves. Mental incapacity can occur at any age and often the consequences are worst for young adults […]

By Floyd Gradley |October 9, 2009

8 min read

Tiered partnerships can provide tax advantages

While corporations are the most common forms of business entities in Canada, operating partnerships with corporate partners are now becoming more prominent. Partnership structures are attractive because they can be more flexible than corporate structures. Partnerships also tend to be subject to less comprehensive legislation and regulation than corporations. In addition, it’s often easier to […]

By Glenn Stephens |October 1, 2009

5 min read

Warn clients about worldwide income tax issues

Canada’s revenue agency met with officials at Switzerland’s largest bank, UBS, in an effort to obtain more information on Canadian clients who may not be reporting foreign investment information to the Canadian tax authorities. The visit followed on the heels of the IRS success in forcing UBS to provide account- holder detail for thousands of […]

By Gena Katz |October 1, 2009

3 min read

Help laid-off clients save on tax

For the first eight months of 2009, more than 300,000 Canadians received a pink slip. And some who lost their jobs also had to deal with large sums in severance, and the uncertainty of what to do with it. Bruce Cumming, president of Cumming & Cumming Wealth Management in Oakville, Ont., confirms he saw a […]

By Rayann Huang |October 1, 2009

7 min read