Top 5 Reason Why People Don’t Budget

The backbone to every successful financial plan, whether it is personal or business accounting, is a monthly budget. This monthly budget is the blue print to your financial success and prepares you on where your money is going and what to do with it in advance. Without a system of budgeting or a method of…

Government Debt in Canada as of 2017

Upon the release of the annual budgets by the federal and provincial, increasing debt and budget deficits are key issues. We have seen an increase in the combined federal and provincial net debt from $833 billion in 2007 to a projected $1.4 trillion in 2017. The combination of the net debt equates to 67.5% of…

Family Trust

What is a family trust?   Family Trusts are becoming increasingly popular among people who wish to manage their assets and protect their property, and are mainly used to pass assets from one family member to another or other people who stand to benefit from the assets. The settlor is the owner of the assets…

Foreign Reporting Requirements in Canada

Recently, International Consortium of Investigative Journalists’ (ICIJ) released an investigative report on the use of secret offshore accounts in Panama, for the purpose of tax avoidance by wealthy individuals, limited enterprises, limited partnership, and trust companies, around the globe. With progressive insight on the issue, many taxpayers have started paying attention to the development made…