Latest news in Industry News

Modern urban skyscrapers in downtown Chicago from below to the blue summer sky. Sun reflecting in the glass facades of the urban futuristic buildings. Chicago, Illinois, USA

Banks to report second-quarter results as credit concerns persist

Latest quarter was fairly tame with encouraging data on the inflation front and still historically low levels of mortgage delinquencies

parliament hill

Freeland says capital gains proposal will be tabled before summer break

The government says that even if a bill has not yet passed, the change will take effect on June 25

Estate-planning trusts will be hit hard by CGIR hike

Capital gains not flowed out to beneficiaries are "trapped" in the trust at death

Modern urban skyscrapers in downtown Chicago from below to the blue summer sky. Sun reflecting in the glass facades of the urban futuristic buildings. Chicago, Illinois, USA

Bank execs summoned to House of Commons environment committee

Committee has set a date of June 13 for the chief executives of RBC, TD, CIBC, BMO and Scotiabank to appear

time clock

When is the latest clients can sell assets prior to June 25?

Given several complicating factors, waiting until the last minute is a bad idea, tax experts say

Laurentian bank logo on building

Laurentian Bank cutting about 2% of workforce, ending equity research

The cuts come as the bank continues to work through its turnaround plan

Agreement win-win

Cardinal Point teams with Gavin Hockey Wealth Specialists

Combined firm will serve about 200 current and retired pro hockey players

parliament hill

Liberal tax promise tracker, post-2024 budget edition

Feds won't change tax treatment for REITs, and the status of other major tax proposals from the Trudeau government

Modern office building close up in sunlight

Canadian banks directed over US$100B to oil and gas last year: report

In 2023 most of the five biggest banks reduced fossil fuel funding relative to previous years

Financial board

CI reports retail fund outflows of $1.3 billion in Q1

Firm posts $154.4-million loss as investors exit balanced funds, cash-like products

Magnifying glass looking at financial data

iA Financial posts net income of $233 million in Q1

Also, Michael L. Stickney will retire from the executive committee

Sun Life logo on a building

Sun Life posts first-quarter net income of $875 million

Sun Life had $1.47 trillion in assets under management on March 31

Green city

Climate investment taxonomy would prevent greenwashing, confusion: experts

Government is working to launch taxonomy "as soon as possible," Freeland says

Manulife head office building in Toronto, Canada. Manulife is a Canadian multinational insurance company.

Manulife reports first-quarter net income of $866M

Company says it will ramp up share buybacks

Modern urban skyscrapers in downtown Chicago from below to the blue summer sky. Sun reflecting in the glass facades of the urban futuristic buildings. Chicago, Illinois, USA

RioCan REIT reports profits up

Rents continue to trend upward, CEO says

data connections

Canada headed for a hybrid open-banking regime

The government will set the standards for the private sector to implement

parliament hill

Second bill on open banking expected in the fall

Screen scraping would be phased out over time

housing costs

On which home should you claim the principal residence exemption?

Homeowners must now consider the proposed higher capital gains inclusion rate

Canadian Parliament Building at Dusk

Tax group asks feds to allow deemed sales ahead of capital gains change

Taxpayers have been given too little time to plan next steps, CBA-CPA joint committee says

succession planning

Berkshire Hathaway event gives good view of Warren Buffett’s successor

The event also raised new questions about the company's succession plan

Two entrepreneurs working on their bills in the retail store

Capital gains changes tip the scales for business owners

Incorporated professionals must consider deferral, dividends and deductions

TD bank. stock photo

TD penalties expected to be higher on alleged money laundering link: analyst

Bank says it's working to strengthen its anti-money laundering program

Desjardins using CapIntel Correlate for client education, CFR help

Also, BDO releases AI for wealth management

TD bank. stock photo

TD hit with $9.2M penalty after failing to report suspicious transactions

The penalty is for five violations during a review between March 2022 and March 2023: Fintrac

Great-West Lifeco reports $960 million net earnings in Q1

GWL's AUM dips below $1 trillion after Putnam sale