Michelle Schriver

1 week ago | investmentexecutive.com | Michelle Schriver

Michelle Schriver In a release on Tuesday, H&R Block Canada Inc. reminded taxpayers that returns from the past 10 years can be amended to claim any missed credits, deductions or benefits, and it highlighted the following as some of the most commonly missed credits and deductions:Child care expense deduction. Taxpayers can deduct up to $8,000 per child under age 7, $5,000 per child age 7–16, and $11,000 for a disabled child.

1 week ago | investmentexecutive.com | Michelle Schriver

Michelle Schriver With headlines of market turmoil and recession arising from the global trade war, addressing portfolio volatility is a key investor concern. One way to potentially do that is with private market investments. “We talk to clients about building pension-style investment portfolios,” said Craig Machel, senior portfolio manager and senior investment advisor with Richardson Wealth in Toronto. “It’s all about the asset mix.

1 week ago | investmentexecutive.com | Michelle Schriver

The agency says it is “actively working to resolve these issues as quickly as possible” and will provide further information when available. “This is something at the CRA end,” said Ryan Minor, tax director with CPA Canada, referring to the error codes.

2 weeks ago | investmentexecutive.com | Michelle Schriver

Michelle Schriver In response to the market and economic fallout from the U.S. trade war, the Liberal Party of Canada is pledging a one-year reduction in the mandatory minimum withdrawal from a RRIF. In a release on Monday, the Liberal Party of Canada promised to “protect retirement savings” by reducing the minimum RRIF withdrawal amount by 25% for one year.

3 weeks ago | investmentexecutive.com | Michelle Schriver

Michelle Schriver Businesses affected by tariffs have more time to pay income tax and remit GST/HST during the next three months — as previously announced — and the Canada Revenue Agency (CRA) has now provided further details about the tax deferral. On March 21, the federal government said it was deferring corporate income tax payments and GST/HST remittances from April 2 to June 30 to support businesses affected by tariffs.