Income Tax Act in Canada – 100th Anniversary

While it was impossible to miss Canada's 150th birthday celebrations from coast to coast, what you may not have known is that 2017 is also the 100th anniversary of the Income Tax Act. In 1917 Conservative Finance Minister Sir Thomas White introduced the bill to fund the First World War effort. Initially the act was […] Read More

Welcome Drew Barker!

We are pleased to introduce the newest member of our firm, Drew Barker, CPA, CA, BSc, who will be joining us in mid-August as our Manager of Corporate Services. For a little info on Drew and his background, here is a short bio: Drew obtained a Bachelor of Science degree from UBC and worked in […] Read More

Market Perspectives

TD Asset Management (TDAM) recently published their weekly Market Perspectives  piece on the merits of Global Diversification of the Equity Portfolio. Looking back over the last 30 years the Canadian Equity Market (TSX) has experienced higher volatility and lower performance returns than the Global (World) index. In the 2008 bear  market the TSX experienced a […] Read More

Depositing Funds Electronically to NBCN

There is a new option for depositing funds electronically to your NBCN Cash Trading Account if you already are an online banking customer. In your online banking account, go to Payees (as if you were setting up electronic payment for your Telus or BC Hydro account) and type in NBCN, which then should come up […] Read More

With the high cost of housing in the greater Vancouver area, many young people are counting on the bank of mom and dad for their long-term financial stability. However, this faith may be misplaced, and they could be in for an unwelcome surprise. A new survey done by Vancity found that there is a striking […] Read More

FBAR Filing Deadline Changes

A note for any US taxpayers living abroad that are required to file the FBAR (Reports of Foreign Bank and Financial Accounts). Starting with the 2016 tax year, the filing deadline has changed from June 30 to April 15, to coincide with the regular tax filing deadline in the US. When we learned about this […] Read More

CRA Notice of Assessments

As with every May, tax practitioners across the country can finally breathe a sigh of relief. It's a bit of a whirlwind finish each April, but before you know it the office is calm once again, and we can catch up on all those other side projects which have been put to the side. Thanks […] Read More

We've talked before about TFSA over contributions, see Here. But this weeks story is one of forgiveness from CRA, and it comes to us from our very own staff member's daughter. She had mistakenly over contributed to her TFSA, something that happened due to automatic withdrawls that she was unaware of. When CRA found out, […] Read More

FBAR Filing Fears

The U.S. government is certainly a unique jurisdiction when it comes to taxation. Former residents find that the need to file a return every year for the rest of their lives can be quite burdensome, with many revoking their citizenship to avoid the hassle. One problem that American citizens living abroad have to deal with […] Read More

NBCN Statements – Back to Monthly

Good news for our Trivest clients. NBCN has indicated to us that starting March all statements will be sent out every month, assuming there is activity. A few months ago we learned that NBCN would no longer be sending out statements each month if there wasn't any buying or selling activity in the period. This […] Read More