Why do we do what we do ? That is the question, vs what you fu
a dollar a day , plus a little tax
the cost of having a EV powered at home
Tesla , base cost just under 45,000, with optons you can be in the 54,000 range
https://www.advisor.ca/investments/market-insights/firms-and-advisors-get-prepped-for-kyp
https://www.advisor.ca/investments/market-insights/firms-and-advisors-get-prepped-for-kyp
The industry is formalizing know-your-product processes
What to consider when assessing an investment
1. Structure and features such as complexity, transparency, uniqueness, basis of return, likelihood of achieving investment objectives, expected returns, time horizon, liquidity and use of leverage
2. Compensation or other conflicts
3. Risk
4. Initial and ongoing costs and their impact on performance
Source: Amendments to National Instrument 31-103
When it comes to products,
“You should be looking at all the benefits and features to make sure the investment you recommend is in the best interests of clients,” Rizi said.
“That’s what KYP is all about.”
In case your compliance cruising, full stop, see, read, digest disclosure
https://improvingfutures.ning.com/blog/peak-dealership-representative-disclosure
READ THE FINE PRINT
https://improvingfutures.ning.com/blog/peak-dealership-representative-disclosure
I get a variety of greetings for various holiday's, I kinda like this one received yesterday from Elaine Froese, enjoy, reflect ! ~ Tim
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Even in hard time, there is lot's to be thankful for, it's a good time to let the song touch you, a few good memories percolate in, so I invite you to shed a tear with me ~ Tim
#ImprovingFutures #BeTheAdventure
Verse I:
In the morning you sing over me
I receive your mercy
Your faithfulness is clear to see
Constant everyday
Pre Chorus:
Every breath I breathe an invitation
To believe you are creating something good
Though this season doesn’t tell my story
I know you’ll move mountains for me
You’re just that good
Chorus:
So I’ll give thanks to God
When I don’t have enough
Cause He’s more than enough
And He knows what I need
Verse II:
In the silence i choose to believe
You’re working in the waiting
Though the future isn’t clear to me
I trust you anyway
Bridge:
Why do I worry x3
God knows what I need
https://youtube.com/watch?v=UFP17VekChQ&feature=share
http://www.canadian-accountant.com/content/practice/tax-clearance-certificates
Tax results are sometimes determined by laws outside of the Income Tax Act or the findings of the Tax Court. How and whether a legal transaction is recognized for tax purposes often turns on the terms of any agreements and whether the common law and legislative provisions of the jurisdiction in which the transaction is made find the transaction to be valid. If the legal transaction is valid and properly documented under the laws under which it was affected, the CRA is required to also find the legal transaction valid unless it has statutory authority to find otherwise.
Implementing a Section 85 rollover does not require the share consideration to be issued at the time the property is transferred, or even within the same tax year. The rollover does require that there be sufficient evidence of the obligation to issue the shares and that the shares be issued within a reasonable period of time given the circumstances.
Lastly, this case is a reminder that previous errors are not always fatal to a taxpayer's situation. Depending on the nature of the error, our experienced Canadian tax lawyers can implement strategies to correct outstanding errors.
This situation may have turned out well for Bernard and Paul Dale, but getting that positive result required years of litigation, expense and stress which could have been avoided if the shares had been properly issued in 1985 as intended.
With over 30 years of experience as both a lawyer and chartered professional accountant, he has helped start-up businesses, cryptocurrency traders, resident and non-resident business owners and corporations with their tax planning, with will and estate planning, voluntary disclosures and tax dispute resolution including tax audit representation and tax litigation. Visit www.Taxpage.com and email David at david@taxpage.com. Read the original version of this article on Taxpage.com.
https://www.country-guide.ca/guide-life/move-out-move-on/
Great article written by one of my highschool friends.
Some great tips on how to handle some of the emotions or moving and best practices to make that move go smoothly.
"Moving homes can be a very emotional experience for anyone, but for farm families, it’s doubly so. “When the family home is also the place of business, there is an interconnectedness in the heart of the family and the heart of the business,” says Boissevain, Man. farm family coach Elaine Froese. Whether the next generation is taking over or if the farm is being sold to someone outside the family, stress levels can be high for all involved. Good communication is essential, notes Froese. “Love does not read minds.”
In case your compliance cruising, full stop, see, read, digest disclosure
https://improvingfutures.ning.com/blog/peak-dealership-representative-disclosure
READ THE FINE PRINT
https://improvingfutures.ning.com/blog/peak-dealership-representative-disclosure
https://www.clydesvegetableplantingchart.com/contact
This is a cool chart, ordered a few in, thinking might make a great gift for the business to help people with their gardens going forward. #ImprovingFutures
In case your compliance cruising, full stop, see, read, digest disclosure
https://improvingfutures.ning.com/blog/peak-dealership-representative-disclosure
READ THE FINE PRINT
https://improvingfutures.ning.com/blog/peak-dealership-representative-disclosure
Oct 26 , 2016, Gleaning at Tincap Berry Farm, with Cross Town Impact benefiting local Food Banks
Racism Tools Developed by NS Rotary
"Collective and Individual values of respect for equity, diversity, inclusion and openness to change. ". .... I think we should add equality, unity, freedom and personal responsibility
http://www.canadian-accountant.com/content/practice/tax-topics-we-re-thinking-about-this-fall
"The Liberals have indicated they would continue to move forward with plans to allow Canadian controlled private corporations to immediately deduct up to $1.5 million of "growth investments" announced in their 2021 budget (see here for a budget commentary).
The Conservatives propose providing a 5% investment tax credit for any capital investment made in 2022 and 2023, with the first $25,000 to be refundable for small businesses and a 25% tax credit on amounts of up to $100,000 that Canadians personally invest in a small business over the next two years.
Both the Liberals and Conservatives also propose additional tax credits/incentive to encourage investment in green technology and businesses.
As a result, 2022 may be a good year for businesses to consider making significant capital investments, especially "green" ones. Businesses may be able to take advantage of this by planning their own capital expenditures or by selling their products and services to clients who are making capital expenditures."
As indicated above, the Liberals certainly, but also even the Conservatives, are talking about increasing CRA scrutiny, especially of the "wealthy." As detailed here, starting this year there are increased reporting requirements for trusts, and as detailed here, there is a general trend towards additional corporate disclosure requirements. All this suggests scrutiny of businesses and their owners at a higher level than ever before.
Tax legislation has also changed significantly over the last decade and the last two years have been chaotic, resulting in many business and personal changes.
Given all of the above, we suspect that many corporate structures and estate plans may now be dated and due for a review.
https://advisoranalyst.com/2021/06/17/ep-67-deborah-debas-pasquale-posteraro-nicola-fritz-dgam.html/
great article with a few interview discussing this important topic.
our practice has embraced ESG and RI investments for sometime now and have been pleased with adding this investment policy to client portfolios
my greatest concern is media greenwashing
it needs to be more than that
for me, it is good when our investment policy aligns with our core values
A Man For All Seasons
"More is a man of an angel's wit and singular learning. I know not his fellow. For where is the man of that gentleness, lowliness and affability? And, as time requireth, a man of marvelous mirth and pastimes, and sometime of as sad gravity. A man for all seasons."
https://en.wikipedia.org/wiki/A_Man_for_All_Seasons_(1966_film)
https://www.sparknotes.com/lit/amanforallseasons/summary/
A Man for All Seasons - Because I Believe: Thomas More (Paul Scofield) explains his morality to the Duke of Norfolk (Nigel Davenport).
"A Man For All Seasons" (1966), directed by Fred Zinnemann, tells the story of Sir Thomas More's resistance to King Henry VIII's seizure of the church in England.
Many are being threatened with the threat of loosing their jobs because they believe their health information is private and choose to not disclose to their employer. In some industries there could be a mass firing of up to 30% of the work force. This interview will give you some legal insight on the matter, it’s interesting insight on the ethics, history of law and the dangers to the future.
If your being affected by the current manadates being implemented by the government and being encouraged upon business's, some financial planning is in order, you are not alone, please reach out to us, perhaps we can be of assistance. advisor@timothyross.com 613-345-0016
Devotion from this morning
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September 25, 2021
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I received an email yesterday from our MGA, Financial Horizons, no entry unless you show your papers, doors locked , and if you visit, you can do so for up to 15 min and not be subjected to the paper policy nor testing policy. This does not effect me to much as I rarely attend their offices, but it is an interesting approach being put out there by this business who we do business through.
"With fear and the wash of perception the talk of the day, we find that the world is upside down, laugh or cry, press on, when there is a way, you find a way." TLR
In case your compliance cruising, full stop, see, read, digest disclosure
https://improvingfutures.ning.com/blog/peak-dealership-representative-disclosure
READ THE FINE PRINT
https://improvingfutures.ning.com/blog/peak-dealership-representative-disclosure
https://www.advisor.ca/news/economic/what-another-liberal-minority-means-for-clients/
Notes from Article
On the tax side, the Liberals may move on a promise from the 2019 election campaign: the luxury tax. Just before the election call in August, the Department of Finance announced consultations on the design of the new tax that would apply on the sale of new luxury cars and aircraft with a retail sale price of more than $100,000, and new boats that cost more than $250,000.
They also pledged to increase Canada Revenue Agency resources by up to $1 billion per year to combat “aggressive tax planning and tax avoidance” and close the tax gap. Top earners would face a 15% minimum tax that would remove their “ability to artificially pay no tax through excessive use of deductions and credits,” the Liberal platform said. The tax is projected to raise $1.7 billion over five years.
For clients with disabilities, look for the Liberals to move on a Canada disability benefit, a direct monthly payment for low-income Canadians with disabilities aged 18 to 64. The Liberals tabled legislation for the new benefit the day before Parliament rose in June, and it would need to be reintroduced in a new Parliament.
The Liberals also said they would review the Disability Tax Credit and other federal benefits and programs to make sure they’re accessible to those experiencing mental health challenges.
On housing, prospective buyers may soon be able to access a new tax-sheltered savings account. The Liberals’ proposed First Home Savings Account would combine features of an RRSP and a TFSA to help Canadians under 40 build a down payment of up to $40,000 faster.
The party also said it would double the First-Time Home Buyers’ Tax Credit; introduce an “anti-flipping tax” on the speculation of residential homes, requiring property to be held for at least 12 months; ban new foreign ownership of Canadian houses for the next two years; and implement a 1% annual tax on vacant housing owned by non-resident non-Canadians (Finance launched consultations on the measure, proposed in the 2021 budget, just before the election).
Real estate investments could also face greater scrutiny. The Liberals campaigned to review the tax treatment of large corporate owners of residential properties like REITs and implement policies to “curb excessive profits.”
Because the Liberals failed to win their coveted majority, they will again have to rely on support from other parties to govern. When it came to spending, the Liberals had no trouble passing pandemic measures, and the Conservatives campaigned on similar deficits. A report released last week from Rebekah Young, director of fiscal and provincial economics with Scotiabank Economics, noted policy convergence in the campaign with “a bias towards more spending” and “largely non-existent” fiscal anchors.
The Liberals may need support in Parliament from the NDP, which campaigned on higher corporate taxes — including a temporary 15% “excess profit tax” related to pandemic gains — as well as a wealth tax and a capital gains inclusion rate of 75%.
Here are other Liberal pledges that may interest clients should they come to pass:
PEAK - Benefits of Online Statements
UPDATE FROM PEAK
New process for "electronic" clients with no MyPEAKonline account
To improve the client experience, we are reviewing the management of clients who have opted for electronic statements and documents. We have identified a number of them who do not have a MyPEAKonline account, even though such an account is mandatory to receive statements and documents electronically. We are therefore implementing a new process that will let such clients access their statements and ensure continuous management of future cases. This process does not require any action on your part.
New process
From now on, when new clients opt for electronic delivery of statements and documents, they will receive a series of up to three emails that will invite them to create a MyPEAKonline account. Thirty days after receiving the first email, clients will revert to paper statements and documents if they have still not created a MyPEAKonline account. This measure is intended to fulfill the regulatory obligation to ensure clients receive their statements.
Clients affected by this situation
Scenario A : Clients with an email address on file
Clients affected by this situation whose email address is on file will be enrolled in the new process. Such clients may have questions about this matter. Please take this opportunity to make them aware of the importance of being able to consult their official documents online. Here is a reminder of the benefits associated with electronic statements.
Scenario B : Clients without an email address on file
Because we have no quick way of communicating with clients who do not have an email address on file they will revert to paper statements before the next statement delivery.
Feel free to contact us if you have any questions or comments.
Thanks
Tim Ross , Brock Shores Financial
Timothy Ross, Family Advisor, CEO & Founder, Brock Shores Financial
Mutual Funds offered through PEAK Investment Services Inc.
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 613-345-5231 Fax advisor@timothyross.com
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
#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
Member of the Rotary Club of 1000 Islands, Paul Harris Fellow
PEAK Disclosure - Clck here for Lots of Good Stuff
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Have a Blessed Day! "People influence People”
https://advisor.visualcapitalist.com/inflation-over-last-100-years/
https://www.visualcapitalist.com/visualizing-the-uses-of-corn/
Interesting visual on the use of corn
https://www.icr.org/article/12611/
February 24, 2021
God's Shadow
“Keep me as the apple of the eye, hide me under the shadow of thy wings.” (Psalm 17:8)
There are 12 references in the Bible to God’s “shadow,” understood as a type of His invisible but very real guiding presence. The reference in our text above is the first, and there are three other references to this beautiful metaphor—the “shadow” of the wings of God. Psalm 36:7 assures us that men can “put their trust under the shadow of thy wings,” and Psalm 57:1 that we can take refuge there “until these calamities be overpast,” and then we can “rejoice” there (Psalm 63:7).
The Lord’s presence is like “the shadow of a great rock in a weary land,” according to Isaiah 32:2. The same prophet quoted God as saying that “I have covered thee in the shadow of mine hand” even as He formed the heavens and the earth, while hiding us “in the shadow of his hand” (Isaiah 51:16; 49:2).
Then there is the wonderful promise of Psalm 91:1: “He that dwelleth in the secret place of the most High shall abide under the shadow of the Almighty.” He can also be “a shadow from the heat, when the blast of the terrible ones is as a storm against the wall,” bringing down “the heat with the shadow of a cloud” (Isaiah 25:4-5). Similarly, He is “a tabernacle for a shadow in the day time from the heat, and for a place of refuge, and for a covert from storm and from rain” (Isaiah 4:6).
The last reference speaks of “the anointed of the LORD” (that is, of the Messiah, Jesus Christ), assuring God’s people that “under his shadow we shall live among the heathen” (Lamentations 4:20). These are all “exceeding great and precious promises” (2 Peter 1:4). Hidden under the shadow of God is indeed a good and safe place to be in times like these. HMM