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Gov Wiggles on Renters

https://www.mtlblog.com/low-income-canadian-renters-will-receive-a-one-time-500-payment-from-the-govt-in-2022

From what I see. 

Even though the government would know who qualifies, they are making low income people and those that use most of their resources to apply for this benefit.



This gives them lots of wiggle room to simply not have to payout as much money as they should. 

Plus a fairly tight deadline for filing.

 

CRA knows our income, so they know who would qualify.

Most people in Ontario submit what their rent is in-order to qualify for Trillium benefit. So CRA knows that number, at least in Ontario.

Some other provinces have rent info, some do not. So at least in Ontario. This job could be done all in-house. That's a big part of the population and probably a big part of the potential payout. 


Bottom line, government has not thought this out if their intent was to serve. Frankly they have created lots of a wiggle room and more importantly an opportunity to expand government, a lot of paper files to process. Yeah 

IMHO

 
Note, the group that is most likely to qualify for this benefit perhaps do not have a phone, or internet service  .... as a lot of this applying is encouraged to be done on line or over the phone .... it furthers shows how they wish to wiggle. .... March 31, more wiggle.  Maybe some of my thinking is out of date, everyone seems to have a phone with wifi options or a little data. 


CRA link for details 

Read more…

Tax Detention Powers added

"It is therefore unclear why the CRA would now also need police-like powers to interrogate any person and, furthermore, to require that person to attend any place designated by it, as part of its ordinary audit function."
......

To delineate the limits to its new power, the Canada Revenue Agency should adopt these best practices for audit interviews, argue three tax lawyers from Davies


To delineate the limits to its new power, the Canada Revenue Agency should adopt these best practices for audit interviews, argue three tax lawyers from Davies

Author: Brian Bloom, Élisabeth Robichaud and Sammy Cheaib
Brian Bloom, Élisabeth Robichaud, and Sammy Cheaib
Brian Bloom is a partner, Élisabeth Robichaud is a partner, and Sammy Cheaib is an associate in the Montreal office of Davies Ward Phillips & Vineberg LLP (“Davies”).

THE Canada Revenue Agency (CRA) can now require taxpayers or any other person to answer "all proper questions" and provide all reasonable assistance for any purpose relating to the administration or enforcement of the Income Tax Act (ITA), including by submitting to oral questioning at a place designated by the CRA.[1]

In this bulletin, we comment on the scope of the CRA's new power to compel oral interviews, which became effective on December 15, 2022. 

Background

Although it is not standard audit practice for the CRA to demand that taxpayers and their agents submit to oral interviews in the course of tax audits, the CRA will sometimes do so, especially during transfer pricing audits and, more recently, during audits initiated under the related-party initiative (RPI). Such a CRA demand was recently considered in Minister of National Revenue v Cameco Corporation[2] (Cameco), in which the Federal Court of Appeal (FCA) held that, although oral interviews are not prohibited, the ITA does not authorize the CRA to compel taxpayers to submit to interviews.[3] Hence, following the Cameco decision, the CRA continued to conduct oral interviews with the important nuance that the taxpayer's prior consent to such an interview was now clearly required. 

Statutory Authority to Conduct Oral Interviews

In response to the Cameco decision, the 2021 federal budget proposed amendments to section 231.1 of the ITA to broaden the CRA's audit powers. These amendments were substantively enacted in Bill C-32 and came into force upon royal assent on December 15, 2022. 

Generally, prior to these amendments, section 231.1 of the ITA authorized the CRA to inspect a taxpayer's books, records and property inventories. The CRA could enter a taxpayer's premises or places of business and require any person on such premises to provide reasonable assistance in the CRA's inspection of books, records and property inventories. 

Bill C-32 amends section 231.1 of the ITA. One of the most substantive changes is contained in amended paragraph 231.1(1)(d) of the ITA, which now requires a taxpayer or any other person to provide the CRA with "all reasonable assistance" and to answer "all proper questions" relating to the administration or enforcement of the ITA. Moreover, under amended subparagraph 231.1(1)(d)(i), the CRA can now require any person to attend "any place designated by the CRA," or attend by videoconference or by another form of electronic communication, in order to submit to oral questioning. 

Note too that the CRA can now compel any person to answer questions in writing in any form specified by the CRA. Generally, all persons are now required to provide the CRA with "all reasonable assistance with anything the [CRA] is authorized to do" under the ITA.[4] Although our focus here is on the CRA's power to conduct oral interviews, comments similar to those made below apply equally to these other new rules, whose scope has yet to be established by the courts. 

Departure from Prior Audit Practice

The CRA's new power to compel taxpayers to undergo oral interviews and attend any designated place for this purpose (akin to law enforcement officers' power to bring an arrested individual to a police station to undergo questioning) departs from previous standard audit practice in a manner that is — in our view — unwarranted, as a matter of both policy and practice. 

It is well established that a tax audit should be a collaborative process in which, as a corollary to the taxpayer's duty to provide all reasonable assistance, the CRA should treat the taxpayer courteously and with consideration, having due regard to its "core values" of integrity, professionalism, respect and collaboration.[5] Accordingly, in most income tax audits, long-established standard practice has been for the CRA to request, in writing, any information relevant to an audit under either section 231.1 or 231.2 of the ITA, and for taxpayers to cooperate by providing such information in writing within a reasonable time. This practice helped to ensure that taxpayers were able to provide complete and accurate information along with any relevant supporting documentation, as well as to seek and obtain all needed assistance to do so. Where a taxpayer refused to comply with a valid demand made by the CRA pursuant to section 231.1 or 231.2 of the ITA, the Federal Court could, on a summary application from the CRA, issue a compliance order under section 231.7 of the ITA to compel an answer; in addition, the taxpayer would face the risk of committing a penal offence and being held liable on summary conviction under section 238 of the ITA. 

Furthermore, prior to the enactment of amendments to section 231.1, if the CRA faced a recalcitrant taxpayer when opting to conduct an oral interview, it would not be rendered "toothless," as noted by the FCA in Cameco. Indeed, when a taxpayer refused to answer a question, the CRA could (and still can) make inferences and assumptions, and assess the taxpayer on the basis of those assumptions. Such assessments are deemed to be valid and binding unless and until reversed on appeal, in which case the onus rests on the taxpayer to demolish the factual assumptions. 

Therefore, one could certainly argue that these existing very broad audit and assessment powers already give the CRA the de facto ability to compel oral interviews when necessary, considering the potential adverse consequences for taxpayers who fail to comply with such (occasional) requests. 

It is therefore unclear why the CRA would now also need police-like powers to interrogate any person and, furthermore, to require that person to attend any place designated by it, as part of its ordinary audit function. Indeed, there appears to be no reason, in policy or practice, to favour answers given orally over answers given in writing. The CRA's audit function serves...to audit. An audit is neither a court hearing nor a criminal investigation. Auditors are not trained to hear oral evidence or opine on the credibility of a witness. And they should certainly not be employing oral interviews to trick taxpayers into giving inculpatory answers or unwittingly waiving legal privilege. Accordingly, we hope that the CRA will maintain its standard audit practice of requesting information in writing, despite its new powers. Oral interviews should be reserved for certain specialized audits, such as transfer pricing audits. Indeed, Cameco was a transfer pricing case. 

Limits to the Power to Conduct Oral Interviews

Despite the broad statutory language in new section 231.1 of the ITA relating to the CRA's power to conduct oral interviews, this power may be more limited than it initially appears. In our view, these limits are both contained in the text of the provision itself and flow from taxpayers' established civil and constitutional rights. 

Limits in the text of section 231.1

The text of new paragraph 231.1(1)(d) of the ITA reveals that the CRA's power to conduct oral interviews is limited by both the "reasonable assistance" and "proper question" standards. While the courts have previously examined these terms under former versions of section 231.1 of the ITA, their scope under this new version remains to be determined. 

For example, courts may see the following as unreasonable within the meaning of new paragraph 231.1(1)(d): interview requests that are disproportionately onerous in light of the issues or amounts at stake; that are disruptive to the taxpayer's business; or that are highly unlikely to yield information relevant to a CRA audit. Moreover, courts may see the following as not being proper within the meaning of new paragraph 231.1(1)(d): repetitive, leading, speculative or argumentative questions; questions that are clearly irrelevant or that are asked in an intimidating manner; and questions that could reveal privileged information. 

Protection of Charter Rights

The CRA's power to compel oral interviews, in particular when conducted at any place designated by it, should be understood in the context of — and attenuated by — individuals' established constitutional rights under the Canadian Charter of Rights and Freedoms (Charter). 

Requiring an individual to attend an interview, especially one that is scheduled to occur at a particular place and time designated by the CRA, arguably constitutes a form of detention. Indeed, the courts have established that detention may include situations in which individuals are not only physically detained but experience a "psychological compulsion," in the form of a reasonable perception that they are not free to go and must comply with the direction or demand to avoid being held liable. On this point, we note that section 238 of the ITA provides that any person who contravenes section 231.1 is guilty of an offence and is liable on summary conviction, in addition to any penalty otherwise provided, to a fine of between $1,000 and $25,000 and to imprisonment for a term not exceeding 12 months. 

If submitting to oral interviews constitutes a form of detention, this could trigger a series of robust Charter protections, including the guarantee in section 7 not to be deprived of liberty except in accordance with the principles of fundamental justice; the right against arbitrary detention in section 9 of the Charter; the right to retain and instruct counsel without delay and to be informed of that right; and to have the validity of the detention determined by way of habeas corpus under section 10 of the Charter

Solicitor-Client Privilege

Furthermore, requiring taxpayers to undergo an oral interview without having the opportunity to consult with their legal representatives would pose a serious threat to the protection of solicitor-client privilege (SCP), a constitutional and fundamental civil and legal right. Taxpayers often rely on legal advice in tax matters, given the complexity of the ITA and the breadth of audit requests, and cannot be expected to know which information is protected by SCP. 

If the CRA's power to conduct oral interviews is exercised without due consideration to taxpayers' right to consult their legal representatives, such power risks giving rise to unintended communication of information protected by SCP or, for that matter, other types of privileged information. This raises the further issue of what remedy is appropriate when privileged information is so obtained by the CRA in violation of taxpayers' constitutional rights. 

We would note, however, that there is nothing in the amended provisions that explicitly prevents taxpayers from attending a mandatory interview with their advisers, including legal advisers, or that authorizes the CRA to exclude such advisers from an interrogation. 

Moving Forward: With Great Power Comes Great Responsibility

Until the courts delineate the limits to this heavy-handed new power, clear administrative guidelines by the CRA would be welcome on (i) the circumstances in which oral interviews may be appropriate and (ii) the manner in which they may be conducted. 

In this regard, and until such CRA guidelines are available, we suggest that CRA auditors and taxpayers adopt best practices designed to ensure that the CRA's power to conduct oral interviews is exercised reasonably and in a proper manner. These practices could include the following:

  • favouring written questions over oral interviews as a general information-gathering tool unless the nature of the audit clearly calls for oral interviews, as in the case of auditors seeking to conduct or verify a functional analysis in the course of transfer pricing audits;
  • scheduling oral interviews well in advance, at a place and time mutually agreed upon by the CRA and the individual being interviewed;
  • ensuring that the questions are provided to individuals with sufficient prior notice to allow them to prepare complete answers by consulting the relevant documents and seeking assistance from their tax advisers and legal counsel;
  • ensuring that the interviewed individuals are provided with all opportunities to be accompanied throughout the interview by any persons they choose, including their tax advisers and legal counsel;
  • ensuring that the interviewed individuals are made aware of their right to take notes and record the interview; and
  • ensuring that individuals are not compelled to answer questions that they are incapable of answering and, consistent with undertakings given on discovery in civil proceedings, ensuring that individuals are given the opportunity to provide complete answers, whether orally or in writing, after the interview once they have properly informed themselves. 

We believe that these common sense measures would not only ensure the reasonable exercise of the CRA's power to conduct oral interviews but also improve the efficiency of the CRA interview process by providing adequate opportunities to taxpayers to share proper, accurate and complete information. It is in the interests of both the CRA and taxpayers to ensure that the audit is conducted efficiently, fairly and within the confines of the law and that the information provided by taxpayers to the CRA is correct. 

Regardless of whether the CRA adopts our suggestions, given the uncertainty triggered by these substantive changes to the CRA's audit powers, taxpayers who fear that the CRA's power to conduct oral interviews is being exercised unreasonably or improperly should seek legal counsel. 

Footnotes

1.  The CRA exercises the power conferred upon the Minister of National Revenue by the ITA.
2.  2019 FCA 67.
3.  Read our contemporaneous discussions on the Camecodecision and its immediate impact on the conduct of audits at The CRA Cannot Compel Oral Interviews During an Auditand CRA's Audit Powers Have Limits.
4.  New subparagraph 231.1(1)(d)(ii) and new paragraph 231.1(1)(e) of the ITA.
5.  See CRA's Taxpayer Bill of Rights Guide: Understanding your rights as a taxpayer

Brian Bloom is a partner, Élisabeth Robichaud is a partner, and Sammy Cheaib is an associate in the Montreal office of Davies Ward Phillips & Vineberg LLP (“Davies”). Title image courtesy Canada Revenue Agency. Author photos courtesy Davies.

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CRA Labor Strike Potential

Potential Strike at CRA

The CRA has approximately 55,000 employees. It is

by far the biggest federal government employer.

More than 35,000 of those workers are part of two

unions: the Public Service Alliance of Canada (PSAC)

and the Union of Taxation Employees (UTE).

 

On January 10, 2023, PSAC-UTE announced that they

launched a nationwide strike vote for 35,000 CRA

employees, after talks with the CRA broke down over

wages and remote work. The strike votes will be

conducted from January 31 to April 7, 2023. Workers

at CRA have been without a contract for more than a

year, and the union declared an impasse in September

2022.

 

While strike votes are underway, PSAC-UTE and

CRA will proceed to Public Interest Commission

(PIC) hearings on January 27th and February 20th

with the Federal Public Sector Labour Relations and

Employment Board. The hearings are expected to

produce non-binding recommendations for an

agreement and are anticipated in the spring.

 

Once the Commission issues its report, PSAC-UTE

will be in a legal strike position if voting provides a

strike mandate. So, if the CRA does strike, there is a

very good chance it will be in April sometime.

 

The PSAC released the following as key bargaining

issues with the CRA (presented in italics below):

 

Fair Wages - The cost of living and inflation are

through the roof. In these tough times, we deserve fair

wages. We will hold the line to make sure we – and all

Canadians – don’t get left behind.

 

WWW.EFILE.CA

Note: a wage proposal presented to the CRA by

PSAC-UTE in July 2022 calls for a 9% wage increase

effective November 1, 2021 (to level the playing field

with Canada Border Service Agency members) and

then a 4.5% increase retroactive to November 1, 2021;

an 8% increase retroactive to November 1, 2022; and

an 8% increase effective November 1, 2023. That

represents a cumulative 32.9% total increase in salary

over a two-year period (from Nov 2021 to Nov 2023).

 

Hours Of Work - We need to have protection against

evening, weekend and shift work. We deserve to be

compensated for our time, and our years of service

should be recognized.

 

Better Work-Life Balance - Remote work has become

a part of everyday life in our workplaces. Now it’s

time to look to the future by enshrining remote work

and the right to disconnect in our collective

agreements.

 

Note: according to UTE the CRA has 9,000 call centre

employees, and they’re all working from home.

 

Good, Secure Jobs - CRA has repeatedly tried to

contract our work to private companies. But when

public money goes into private pockets, Canadians

lose out with higher costs, more risk, and reduced

quality of services. We need to end contracting out

and fight for good, secure public service jobs.

 

Let’s hope that in the event there is strike action, it is

brief and does not adversely affect the ability of

taxpayers to file income tax returns at a critical time in

the tax cycle. Nonetheless, potential strike action at

the CRA is a good reason to be proactive and reach out

to clients early (as part of your marketing efforts) and

discuss getting tax information to you as soon as

possible.

 

Source Jan 27, 2023 from EFILE Association Newsletter

Read more…

 

Megan Ross

Client and Business Support Services

Brock Shores Financial/Timothy Ross & Associates

megan@timothyross.com

www.BrockShoresFinancial.ca

http://www.ImprovingFutures.ca/

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https://youtu.be/6ySBv-HHyK4

 

 
00:00 Chapter 1: 5 Major Pieces of the Life Puzzle
27:28 1. Philosophy
48:00 2. Attitude
53:38 3. Activity
1:03:33 4. Results
1:12:46 5. Lifestyle
 
1:24:24 Chapter 2: Personal Development: The Proven Principles
1:28:10 Money [Value]
 
1:38:20 Life is Like the Seasons
1:41:37 1. Winter
1:45:35 2. Spring
1:48:09 3. Summer
1:55:10 4. Fall
 
1:56:20 Physical
1:58:45 1. Appearance
2:00:07 2. Spiritual
2:00:58 3. Mental
2:05:12 4. Library
2:20:28 5. Keep a journal
 
2:29:50 Chapter 3: The 5 Abilities
2:30:10 1. The Ability to Absorb
2:32:17 2. Learn to Respond
2:39:25 3. The Ability to Reflect
2:48:55 4. Ability to Act and Take Action
3:05:53 5. Develop the Ability to Share
 
3:11:54 Goals
3:25:35 1. Don't Set Too Low
3:27:00 2. Don't Compromise, Don't Sell Out
 
3:31:15 Chapter 4: Financial Independence
3:42:01 1. Keep Strict Accounts
3:43:00 2. Develop a New Attitude Communication
 
3:49:00 4 Steps to Communication
3:51:38 1. Have Something Good to Say
3:56:39 2. Saying it Well
4:00:58 3. Read Your Audience
4:06:47 4. Intensity Conclusion
 
4:10:35 Master Negativity
4:13:25 The Day That Turns Your Life Around
4:19:25 The Greatest Challenge in Leadership
 
"If you will change, everything will change for you" 
 
I met Jim in the fall of 1993, the year I got my investment and life licence. I attended his presenation in Ottawa at the Congress Centre, decided to sign up for his weekend study, took lots of notes, got me thinking, inspired,  got me journalling, turned my life around. I studied  his teachings , his recordings, and attended and met him in  future seminars. I considered him my mentor. I enjoy listening to him to this very day, I circle back for a refresher at least once a year. I hope his lessons can help you as well. ~ TLR
 

“Don’t say, ‘If I could, I would.’ Say, ‘If I can, I will.’”


“Don’t wish it was easier, wish you were better. Don’t wish for less problems, wish for more skills. Don’t wish for less challenge, wish for more wisdom.”


“Either you run the day or the day runs you.”


“Without a sense of urgency, desire loses its value.”


“If you don’t like how things are, change it! You’re not a tree.”


“How long should you try? Until.”


“Learn how to be happy with what you have while you pursue all that you want.”


1. “Don’t wish it was easier, wish you were better. Don’t wish for less problems, wish for more skills. Don’t wish for less challenge, wish for more wisdom.”

2. “If you are not willing to risk the unusual, you will have to settle for the ordinary.”

3. “Start from wherever you are and with whatever you’ve got.”

4. “Formal education will make you a living; self-education will make you a fortune.”

5. “Success is nothing more than a few simple disciplines, practiced every day.”

6. “Either you run the day or the day runs you.”

7. “We must all wage an intense, lifelong battle against the constant downward pull. If we relax, the bugs and weeds of negativity will move into the garden and take away everything of value.”

8. “Motivation is what gets you started. Habit is what keeps you going.”

9. “If you are not willing to risk the unusual, you will have to settle for the ordinary.”

10. “To solve any problem, here are three questions to ask yourself: First, what could I do? Second, what could I read? And third, who could I ask?”

11. “If you really want to do something, you’ll find a way. If you don’t, you’ll find an excuse.”

12. “If you go to work on your goals, your goals will go to work on you. If you go to work on your plan, your plan will go to work on you. Whatever good things we build end up building us.”

13. “Motivation alone is not enough. If you have an idiot and you motivate him, now you have a motivated idiot.”

14. “It isn’t what the book costs; it’s what it will cost you if you don’t read it.”

15. “You must take personal responsibility. You cannot change the circumstances, the seasons, or the wind, but you can change yourself. That is something you have charge of.”

16. “Success is neither magical nor mysterious. Success is the natural consequence of consistently applying the basic fundamentals.”

17. “Failure is not a single, cataclysmic event. You don’t fail overnight. Instead, failure is a few errors in judgement, repeated every day.”

18. “Work harder on yourself than you do on your job.”

19. “You cannot change your destination overnight, but you can change your direction overnight.”

20. “You don’t get paid for the hour. You get paid for the value you bring to the hour.”

21. “Don’t just read the easy stuff. You may be entertained by it, but you will never grow from it.”

22. “Let others lead small lives, but not you. Let others argue over small things, but not you. Let others cry over small hurts, but not you. Let others leave their future in someone else’s hands, but not you.”

23. “We must all suffer one of two things: the pain of discipline or the pain of regret or disappointment.”

24. “Without a sense of urgency, desire loses its value.”

25. “Life and business is like the changing seasons. You cannot change the seasons, but you can change yourself. Therein lies the opportunity to live an extraordinary life–the opportunity to change yourself.”

26. “Discipline is the bridge between goals and accomplishment”

27. “Take advantage of every opportunity to practice your communication skills so that when important occasions arise, you will have the gift, the style, the sharpness, the clarity, and the emotions to affect other people.”

28. “If you don’t like how things are, change it! You’re not a tree.”

29. “Days are expensive. When you spend a day you have one less day to spend. So make sure you spend each one wisely.”

30. “Give whatever you are doing and whoever you are with the gift of your attention.”

31. “Learn how to be happy with what you have while you pursue all that you want.”

32. “You cannot make progress without making decisions.”

33. “Don’t say, ‘If I could, I would.’ Say, ‘If I can, I will.’”

34. “No one else ‘makes us angry.’ We make ourselves angry when we surrender control of our attitude.”

35. “Your personal philosophy is the greatest determining factor in how your life works out.”

36. “The big challenge is to become all that you have the possibility of becoming. You cannot believe what it does to the human spirit to maximize your human potential and stretch yourself to the limit.”

37. “The challenge of leadership is to be strong, but not rude; be kind, but not weak; be bold, but not bully; be thoughtful, but not lazy; be humble, but not timid; be proud, but not arrogant; have humor, but without folly.”

38. “The more you care, the stronger you can be.”

39. “Character is a quality that embodies many important traits, such as integrity, courage, perseverance, confidence and wisdom. Unlike your fingerprints that you are born with and can’t change, character is something that you create within yourself and must take responsibility for changing.”

40. “How long should you try? Until.”

 

"The beauty of being in business is that your business engages all aspects of your mind, I think that is why you become successful, business challenges you to be more than you are, and that is where the miracle takes place." Timothy Ross, May 2004

 

 

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Coffee Pleasures

I gave coffee up when I got COVID leading up to Christmas 2021, been tempted to indulge since, I do miss the social aspect , and the little rush. Drinking Chaga tea mainly now helps my immunity goals stay charged up. My water business Natures Energy Water Corporation makes a cold brew coffee with maple and birch water right from our trees, it's like drinking desert, it's truly amazing, delightful, Simply Delicious, have a couple omega 3 eggs on the side and you have felt like you had a quick trip to heaven, with the knowledge that you probably get to stay on Earth a little longer. Simply Refeshing

PS, always check out our comment section for lots of extra valuable resources that get posted going forward on the topic, also use the search bar for topic tags 

TLR

 

 

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Johanne Brennan

VP of Planning

Brock Shores Planning Corp.

613-329-2310

brockshorescorp@gmail.com

johanne@timothyross.com

http://www.BrockShoresPlanningCorp.ca/

http://www.ImprovingFutures.ca/

Brock Shores Financial,  Family Office Providing Omega Stewardship ©

613-345-0016 Head Office

613-345-5231 Fax

This transmission is intended solely for the individual or entity to whom it is addressed and is confidential in nature.  Please be advised that any distribution, reproduction or other use of this document by anyone other than the addressee is strictly prohibited.  If you have received this communication in error, please notify us immediately and delete the file from your system. Thank you for your assistance.

 

Google Update

https://posts.gle/ScMFbH

"Brock Shores Financial is growing again! We are thrilled to announce another addition to our Family Team January 2023. Associate Planner, Johanne Brennan joined Brock Shores Planning Corp. Johanne brings her exceptional business acumen, extensive insurance industry experience and lovely client relationship skills to us. Johanne’s mission is to enhance and help us provide additional financial planning services for our exceptional clients. Our vision is to help our clients embrace planning for their personal financial goals, support our business clients with their ongoing business enterprises, assist those embarking on new ventures and help all with their estate planning objectives."

10949723080?profile=RESIZE_710x

https://www.executivecoaches.ca/inspiringleaders/e085-thaw-your-frozen-feet-with-johanne-brennan

https://www.amazon.ca/How-Thaw-Your-Frozen-Feet-ebook/dp/B07PVL3HY6

 Reader's Corner with Doreen Barnes YourTV https://www.facebook.com/watch/?v=315240222472948

 

Corporate Links 

Brock Shores Financial https://www.facebook.com/improvingfutures

Timothy Ross & Associates: https://www.facebook.com/TimothyRossAssociates/

Peak Investment Services : https://www.facebook.com/profile.php?id=100068640032385

Brock Shores Planning Corp : https://www.facebook.com/profile.php?id=100089499457269

 

Founder Links

https://www.linkedin.com/in/omegastewardship/

https://twitter.com/OmegaSteward

 https://www.facebook.com/omegastewardship

 https://www.facebook.com/newbetheadventure/

#Kitchen Moments https://www.facebook.com/profile.php?id=100088817142433

https://www.facebook.com/YourBladeOfGrass/

https://www.facebook.com/naturesenergywater/

https://www.facebook.com/CanadianFlagEducationCentre/

#Herbal Moments https://www.facebook.com/groups/641210264418792

#Fungi Fun https://www.facebook.com/groups/fungifun

 

 

PS: We welcome your Google Review, please  click on this link  https://g.page/r/CXYJPvedYlz0EBI/review

 

Be sure and register to keep track of  your credit bureau, we use Borrowell for this free service

https://improvingfutures.ning.com/blog/free-credit-check-borrowell

 

Timothy Ross, Family Advisor, CEO & Founder, Brock Shores Financial

Mutual Funds offered through PEAK Investment Services Inc.

Life & Travel,Insurance, Seg Funds & Banking offered through Financial Horizons Group


Brock Shores Financial / Timothy Ross & Associates, Family Office Providing Omega Stewardship
​4502 Airport Road – Tincap, GTA Professional Center, Elizabethtown, Ontario K6T 1A2
​613-345-0016 Office 613-213-4625 Cell/Text 613-345-5231 Fax advisor@timothyross.com
​Executive Assistant: Heather Kiley heather@timothyross.com

Office Assistant: Tammy Abrams  assistant@timothyross.com
​Office Manager: Megan Ross megan@timothyross.com

Income Tax Associate: Kelly Potvin kelly@timothyross.com

Bookkeeping Associate:  Becky Eamon  becky@timothyross.com

Brock Shores Planning Corp: VP of Planning, Johanne Brennan johanne@timothyross.com  613-329-2310

 

Mission - Vision – Core Values

“Serving our clients and community since 1988”


OMEGA STEWARDSHIP
​* One Stop Process Driven Approach for Retirement & Income Planning
​* Personalized Tax Management Solutions for Individuals & Business Owners
​* Confidential Wealth Management Solutions
www.BrockShoresFinancial.ca 

Legacy Site: www.TimothyRoss.com 

View our Blog: #ImprovingFutures www.ImprovingFutures.ca


Helping Families Achieve ... Life's Major Goals
​1. Tax Smart Planning & Investing
​2. Worry Free Retirement
​3. Education of Our Children & Grandchildren
​4. Quality Care for Our Parents
​5. Meaningful Financial Help for Our Loved Ones
​6. Meaningful Legacy


​Member of Advocis, The Financial Advisors Association of Canada
​Member of IFB, Independent Financial Brokers of Canada
​Member of RIA, Responsible Investment Association
​Paul Harris Fellow

 

 PEAK Disclosure - Click here for Lots of Good Stuff

We value your business, please also leave a review on our Bark profile

Leave your Review Here & Check Others


Have a Blessed Day! "People influence People”

Access Your Peak Accounts www.YourAdvisorCares.ca

Inspiration: www.YourAdvisorCares.com

 

Family Office Team Links

https://improvingfutures.ning.com/blog/brock-shores-planning-corp-vp-planning-johanne-brennan

https://improvingfutures.ning.com/blog/megan-ross-client-and-business-support-services

Read more…

Work Vehicle Tax Tips

FAQ

>
>
> -----Original Message-----
> Sent: Monday, January 16, 2023 6:23 AM
> To: Timothy Ross <advisor@timothyross.com>
> Subject: Business Vehicle?
>
> Hi Tim,
>
> We are currently in the process of buying a new vehicle. It will be
> used for our business as well as personal use. Business wise, to pick
> up smaller materials or tools, driving to estimates where ladders are
> not required, etc.
>
> My question is this: what parameters would need to be met for us to be
> able to make the vehicle payments and fuel a business expense & make
> sure everything is being written up by the book?

> On Jan 16, 2023, at 6:50 AM, advisor@timothyross.com wrote:
>
> Good morning and Happy New Year !
>
> For vehicles with mixed use, you need to keep a log book to track
> personal vs business. You keep track of all expenses, then we do a
> calculation at year end to determine how much is deductible.
>
> The truck can be owned personally or by the business. Check with your
> insurance company for coverage, also financing can be an issue,
> company credit is sometimes harder to get than personal, especially in
> a companies early start-up stages.
>
>
> If the truck is owned personally, you also have the option of charging
> the business by the km for the usage.
>
> It's 59 cents per km in 2023
> https://www.canada.ca/en/revenue-agency/corporate/about-canada-revenue -agency-cra/travel-directive/appendix-a-cra-kilometric-rates-jan-2023.html
>
> With that option you don't have to track expenses as diligently,
> however it is a good policy to know what your spending. Depending on
> usage, the best option can be selected later, the important thing is
> to track and log the usage.
>
> That should cover the basics on this.
>
> There is always a number of special twists and turns on this item.
> Please check out the official CRA link below.
> https://www.canada.ca/en/revenue-agency/services/tax/businesses/small- businesses-self-employed-income/business-income-tax-reporting/business-expenses/motor-vehicle-expenses.html
>
> One other note, vehicle value is a consideration, the more expenses
> vehicles are sometimes restricted in how much can be deducted for
> depreciation purposes. The limit for 2022 was 30,000 plus tax.. Also
> there is a special accelerated depreciation rate effective June 2022 which is beneficial .
>
> This sounds like a car or suv, I would not put them in the company
> personally, less critical review by CRA, if it's a truck, then inside
> a corporation makes sense, and would help get around the valuation
> rule easier.
>
> I hope that helps. Once you get the purchase done, please send us the
> purchase and loan info for our tax files.
>
> One finally thought, there is a few online vehicle tracking software
> that you could invest in to help keep track of trips. The one I use is
> Mile IQ https://mileiq.com/
>
> Tim

***

Wow, thank you so much. This was really helpful.

It is an SUV so I think based on the info and your insight, it might be best for us to finance personally. I will continue to look into it and get all the appropriate forms to you once we have them.

Thank you again - this was so helpful! Happy new year to you as well!

All the best !

 

****

NOTE: please always check the comment section for additional resources that we may post down their later on this topic. ~ TLR

 

PS: We welcome your Google Review, please  click on this link  https://g.page/r/CXYJPvedYlz0EBI/review

 

Be sure and register to keep track of  your credit bureau, we use Borrowell for this free service https://improvingfutures.ning.com/blog/free-credit-check-borrowell

 

Timothy Ross, Family Advisor, CEO & Founder, Brock Shores Financial

Mutual Funds offered through PEAK Investment Services Inc.

Life & Travel,Insurance, Seg Funds & Banking offered through Financial Horizons Group

​This transmission is intended solely for the individual or entity to whom it is addressed and is confidential in nature. Please be advised that any distribution, reproduction or other use of this document by anyone other than the addressee is strictly prohibited. If you have received this communication in error, please notify us immediately. Thank you for your assistance.  Please feel free to share our contact info below with those who may benefit from our services. All rights reserved, Timothy Ross


Brock Shores Financial / Timothy Ross & Associates, Family Office Providing Omega Stewardship
​4502 Airport Road – Tincap, GTA Professional Center, Elizabethtown, Ontario K6T 1A2
​613-345-0016 Office 613-213-4625 Cell/Text 613-345-5231 Fax advisor@timothyross.com
​Executive Assistant: Heather Kiley heather@timothyross.com

Office Assistant: Tammy Abrams  assistant@timothyross.com
​Office Manager: Megan Ross megan@timothyross.com

Income Tax Associate: Kelly Potvin kelly@timothyross.com

Bookkeeping Associate:  Becky Eamon  becky@timothyross.com

Planning Associate Brock Shores Planning Corp:

Johanne Brennan johanne@timothyross.com  613-329-2310

 

Mission - Vision – Core Values

“Serving our clients and community since 1988”


OMEGA STEWARDSHIP
​* One Stop Process Driven Approach for Retirement & Income Planning
​* Personalized Tax Management Solutions for Individuals & Business Owners
​* Confidential Wealth Management Solutions
www.BrockShoresFinancial.ca www.TimothyRoss.com 

View our Blog: #ImprovingFutures www.ImprovingFutures.ca


Helping Families Achieve ... Life's Major Goals
​1. Tax Smart Planning & Investing
​2. Worry Free Retirement
​3. Education of Our Children & Grandchildren
​4. Quality Care for Our Parents
​5. Meaningful Financial Help for Our Loved Ones
​6. Meaningful Legacy


​Member of Advocis, The Financial Advisors Association of Canada
​Member of IFB, Independent Financial Brokers of Canada
​Member of RIA, Responsible Investment Association
​Paul Harris Fellow

 

PEAK Disclosure - Click here for Lots of Good Stuff

We value your business, please leave a review on our Bark profile

Leave your Review Here & Check Others
​ ​Have a Blessed Day! "People influence People”

Access Your Peak Accounts www.YourAdvisorCares.ca

Inspiration: www.YourAdvisorCares.com

 

 

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Deep Thoughts NH

After the release of Think and Grow Rich, Hill began writing Outwitting the Devilas an explanation of why some were still seeing failure after following all of the steps in Think and Grow Rich. His wife, Annie Lou, did not want the book published because of the role the Devil played in it. When Hill died in 1970, the manuscript went into the possession of Annie Lou, who died in 1984. After her death, the manuscript went into the hands of Dr. Charles Johnson, who was Annie Lou’s nephew and president of the Napoleon Hill Foundation. While Dr. Johnson believed the book’s message to be powerful, his wife, Frankie Johnson, shared Annie Lou’s feelings and told Dr. Johnson that she did not want the manuscript published while she was alive. After Frankie’s death, Dr. Johnson passed the manuscript to Don Green, CEO of the Napoleon Hill Foundation. Sharon Lechter was then asked to edit the manuscript, and after several years of annotations and reviews, it was released in June, 2011.

 

https://youtu.be/05oyndJcXBM

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Start Your Budget

Please click on this link and start preparing your first budget, don't worry that you do not know all the info, or have time to finish it all.

You can get started,  save it, revist it, share it with your partner, our planners and you can update it as you get more information or more accurate information.

It is a very handy, accurate and intuitive tool.

The reports are easy to read and can give you insight into how you are doing compared to other Canadian's.  

Let's get started now, click below ~ TLR 

https://itools-ioutils.fcac-acfc.gc.ca/BP-PB/budget-planner

 

For other budgeting items, do a search  budgeting  budget 

https://improvingfutures.ning.com/main/search/search?q=budgeting

https://improvingfutures.ning.com/main/search/search?q=budget

Always check out the comment secton for additional resources

 

https://improvingfutures.ning.com/blog/list/tag/budgeting

https://improvingfutures.ning.com/blog/list/tag/budget

 

Read more…

Prayer Canada Event Feb 11 2023

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Celebrating 45 Years!!!

 

 

Prayer Canada Dinner– Saturday, February 11th, 2023


Greetings in the Name of the LORD:

Registration begins at 11:00 a.m. and Dinner is served at 12:00 Noon

 

 

New Location: The Salvation Army Brockville Community Church, 175 First Avenue, Brockville, Ontario, K6V 5W1.


Menu as follows: BBQ Chicken, Mashed Potatoes, Vegetables, with Gravy, Dinner Roll, Coffee, Tea, Punch, and Water, HomeMade Pies, Assorted Goodies.

Tickets will be sold in Advance: $20.00 per person. Tickets MUST be purchased no later than February 3rd. A Free Will Offering Will Be Taken.

 

Please RSVP on or before February 3rd, 2023 via telephone at: 613-345-2901 or 613-246-3262 (Reservation) .You may also confirm via e-mail at: faye.prayercanada@gmail.com

Guest Speaker: Rev. Kelvin Beckstead

Please make cheques and money orders payable to: Prayer Canada. Do not send cash in the mail. We accept e-Transfers for your convenience. e-Transfer: prayer@prayercanada.org. This is a fundraiser for Prayer Canada! To Promote Prayer Across Canada!

Music will be provided by Local Artists.

There will be draws for door prizes.

Directions: Take 401 to Brockville. Exit at 698 North Augusta. Turn Right, continue on North Augusta Rd till you go through one set of lights, go over an overpass (Train Track), take your first left Broadway Ave., then turn left on First Ave. Salvation Army Church!





Yours in Christ,

Reverend Kelvin Beckstead
President/Chairman
Prayer Canada

613-345-2901 or 613-246-3262

P.S.: Anyone interested in having a Prayer Canada Breakfast, Luncheon or Dinner in their area, please contact me for further details.

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2023 starts

a great email from relationship author... enjoy... 

 

Shall We Begin

The new year brings a desire for structure. A fresh calendar, a clean grid ready to be populated with plans and promises. In this first month, we aim to wrangle all eleven months that will follow. This year, we will plan more trips. We will keep a cleaner house. We will work on our minds, bodies, and spirits. We will get in shape. We won’t make the same mistakes. We will spend more quality time with loved ones. We will manage our money better. We will be happier, healthier, better.

Just last week, were we not kicking ourselves for overindulging on holiday food? Were we not lamenting how little we got done at the end of the year or, conversely, how little we allowed ourselves to do nothing? Every year we engage in this swing from December self-flagellation to January hyper-motivation. And I can’t be the only one whose best laid plans wither by February. Are our outsized expectations—and our sharp left turn to kick them off when the clock strikes midnight—preventing the sustainability required to make lasting change?

A more practical new year’s resolution? Find balance between structures that ground and motivate us and guilt-free spontaneity which allows us to take risks, explore, and yes, occasionally overindulge in life’s pleasures. I often speak of our dualistic needs for security and freedom, safety and adventure. But even I have to remind myself of what that looks like in practice when every article and ad is pushing “new year, new you”gym memberships, to-do list apps, and courses which promise life-changing results in eight perfectly-organized modules.

It’s not just the new year that makes it hard to remember the importance of balancing structure and spontaneity. Any time the pressure’s on, we are so quick to forget the fundamentals. We all know, for instance, that balancing predictability and newness is essential for children. It’s how they learn, grow, and make connections. But when adults come to my office or on my podcasts to discuss relational challenges, work problems, friendship fallouts, and more, inevitably they either have no clue where to start or think they already have all the answers. To them, I introduce a loose equation: 

  • too little structure = high chaos
  • too much structure = rigidity
  • too much spontaneity = dysregulation
  • too little spontaneity = fossilization and deadness 

I observe these imbalances in so many contexts. Think of your romantic relationships. Relationships that are all structure and no spontaneity leave little room for mystery or happenstance, erotic qualities that are essential to aliveness and energy between partners. All spontaneity and no structure, on the other hand—no titles or concrete plans—can leave us anxious. Think of your friendships. Old friends remind us of who we’ve been. New friends remind us of who we can be. Think of a company.Businesses need structure and spontaneity, too. They need legacy, accountability, and boundaries, as much as they need flexibility, creativity, and innovation. 

Now think of this new year. You don’t have to throw everything old away. You don’t have to focus entirely on the new. The uncertainty of the year ahead doesn’t have to unravel you. Trying to constantly control the unknown won’t make it better. Resolve instead to ground into what is real for you now and to uplift yourself by the still unclear possibilities for your future. Yes, you need some discipline, but you also need to let go a bit. And if a little extra control is what you really want this new year—if you find yourself entirely unable to stop planning every detail—at least promise me that you will plan to have some fun. 

Let’s Turn the Lens on You 

  • What are your associations with the “new year”? 
  • Does the promise of new beginnings motivate you? 
  • Does the conclusion of the previous year stress you out? 
  • Do you prefer to bring in the new year dancing with others or in quiet contemplation with yourself? Why?
  • What area of your life could use more structure? 
  • What area of your life could use more spontaneity? 

More From Esther

“4 Practices for Hopefulness in the New Year” / a recent article
“Hope is the alchemy that turns a life around,” says psychotherapist and grief expert Julia Samuel. “It isn’t just a feeling; it is a realistic plan—and a plan B supported by the belief that you can make it happen.” The challenge, of course, is actually doing the plan. Read more to learn how.

“Rituals & Routines” / a newsletter
Routines are concrete repetitive actions that help us develop skills while creating continuity and order. Rituals are routines elevated by creativity, driven by intention, and imbued with meaning. Together, routines and rituals help us through life’s big changes, including the transition from one year into the next.

“The Last Time I Felt Free…” / a newsletter
How do you define freedom? When do you experience it? How has the pursuit of freedom informed your decisions? ‍In this exploration of freedom, we look at what the answers to these questions all seem to have in common. 

Read more…

Trump Taxes

Wow, there is a lot there ! Click on the PDF below and you can download the 1+Gigabite of data for your own review. This husband  and wife are well diversified. If you think your taxes are complicated, there not. Compared to his, they ar probably very simple. However, reveiwing his returns can give you many perspectives on the challanges of being in business, the role of diversification and many others valuable insights. 

 

“I predict that Donald Trump’s tax returns are going to show that he made a lot of money, but didn’t pay a lot of taxes because he took advantage of all of the loopholes in the tax laws passed by the very people who are releasing his tax returns,” Stone wrote. “This makes him smart, not dumb.”

The tax returns do, indeed, support that view.

Trump Tax Return Details

The documents (pdf) indicate that Trump’s businesses at times reported significant losses on tax returns, which can be used to offset tax liabilities.

 

Trump’s Tax Returns Contain a Major Revelation (theepochtimes.com)

https://www.theepochtimes.com/trump-tax-returns-released-show-he-and-wife-melania-had-negative-income-in-4-of-6-years_4953311.html?utm_content=buffere7f5c&utm_medium=Social&utm_source=linkedin&utm_campaign=etlinkedin

 

 

 

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Health Care Sand Box

this is good reflecting , one could stay up all night and not say this as well as Tony , enjoy .... ( a always cheeck out the comment section for future related insight ! ~ TLR

(8) Tony Chapman | LinkedIn

Tony Chapman• 1stHost of Chatter that Matters - Radio Show and Podcast, Conference Speaker and Host.
16m • Edited • 16 minutes ago
 
Is our healthcare a matter of life or death? Canada spends more than $300 billion annually on health care or about 13% of our GDP – the second highest among OECD countries.

With an aging and retiring population, healthcare expenses in Canada are estimated to increase far faster than revenues.

Provinces are demanding more financial support from the Federal Government to increase its share of provincial-territorial healthcare costs from 22% to 35% to $28 billion annually. They also demand increased Canada Health Transfer (CHT) payments without stipulations, arguing they’re best placed to determine how to allocate any new funding.

Here is a sober thought. Imagine that Canada and the Provinces couldn't continue borrowing more each year. What would we do? Would we let health care collapse under increased demands, or would we make bold moves?

I would look at the following:

1)Do we have too many handlers handling healthcare?

The chart I have attached is an eye-soar. It also indicates how much we spend on our Federal and Provincial bureaucracy and whether 13 Provinces and Territories, each managing their own healthcare, makes sense.

2)Is Healthcare becoming the panacea for winning votes?

Healthcare is a growing tension point with voters. Governments promise more - pharmacare, dental care, mental health care, long-term care and primary care to ease the friction.

3)Are we focusing on accountability and efficiencies?

Are we obsessed with getting more health care for less or accepting less healthcare with more? Are our major infrastructure projects being delivered on time and to budget?

4)Should we consider a hybrid model where the wealthy can access private healthcare but, in doing so, benefit all others?

5)Should we reallocate our budgets? If universal healthcare is priority one and continues to cost more, and we can't borrow more, what will we give up?

6)Should we pay more taxes?

7)Should we have a quota system? Units of healthcare to be valued and invested wisely?

8)What role can technology and AI play in the home and virtual diagnostics to streamline only those patients who genuinely need access to healthcare?

9)What role can the pharmacy play as the neighbourhood hub for diagnostics and administration of primary healthcare?

My belief: Proactive versus reactive. We must assume that we will run out of borrowing capacity. In doing so, we free our minds to solve the growing demand for healthcare by putting the patient at the centre and driving efficiencies and bold thinking from the stethoscope back.

I have a podcast where I chat with inspirational people. If you want to hear a fantastic interview and ideas on how to save our healthcare system, my chat with Alika Lafontaine, President of the Canadian Medical Association, is worth a listen:

https://lnkd.in/grWp4q8S


#chatterthatmatters #canada #healthcare #newyear2023 #health
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