Getting a tax refund is a sign of poor tax planning, so help clients reduce the taxes their employers withhold for the rest of 2017
Here are two ways you may help keep your clients from being interest-free lenders to the government
Clients should have a strategy in place when the cheque arrives
Only 13% plan to save or invest the money
Consumer advocates are pushing for legislation that would make it easier to claim refunds and benefits
Average tax refund rises to $1,655
Canadians will also use refunds for investment, travel and home renovations
In part one of a three-part series, Jamie Golombek, managing director, tax & estate planning, CIBC Private Wealth Management, explains how avoiding tax refunds can help your clients. He outlines strategies for deducting expenses at source and putting these funds into investment vehicles right away. Tune in for part two of Golombek: Tax Savings 2014 next week.
Investigation finds that chain of events that led to the issuance of the cheque could not have been deliberately manipulated
Eight in 10 Canadians expected to receive a refund