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Federal transport minister approves sale of WestJet to Onex at price reduced by 737 Max issues

Federal Transport Minister Marc Garneau has given his approval to the proposed $3.5-billion acquisition of WestJet Airlines by Onex Corp. The Calgary-based airline says the minister determined the deal doesn’t raise public-interest issues for national transportation. WestJet and Onex entered into a friendly deal last month to pay $31 per share cash for the airline, which will operate as a privately held company. READ MORE: Onex’s purchase of WestJet prompts Moody’s credit ratings review for possible downgrade Watch below: Some Global News videos about the sale of WestJet. WestJet sold to Onex The offer was a reduction from the preliminary...

IIROC survey shows majority backing senior-protection measures

Earlier this month, the Canadian Securities Administrators (CSA) released a statement encouraging Canadians to watch out for signs of financial abuse of seniors. Education has been a crucial pillar in regulatory efforts to combat senior exploitation, with informational resources and campaigns provided by both provincial and territorial watchdogs. Now, the Investment Industry Regulatory Organization of Canada (IIROC) has published new findings revealing a broad desire for measures that align with and go beyond awareness efforts. In a national survey of 1,000 investors conducted by The Strategic Counsel and commissioned by IIROC, an overwhelming majority voiced support for measures that ensure...

Investors should pay more attention to water usage when implementing ESG: research

Staff | June 21, 2019 While carbon concerns have been dominating conversations among institutional investors looking to mitigate environmental risk, the issue of water usage should be higher on their list, according to a paper by Russell Investments Group. “Overall, we have concluded that the current water-related investment tools available are insufficient and inhibit investors from converting insights into meaningful action,” the research noted. So where to begin? The paper identified four key considerations for institutional investors seeking to incorporate this issue into their portfolios. Read: Institutional investors seeking disclosure on water risk First, water withdrawal, the technical term for actually using water,...

How firm helps advisors acquire new books of business

CWB Maxium Financial believes it’s perfectly positioned to help advisors expand through acquisition as the industry faces an upcoming “succession cliff”.                      The company offers financing to advisors who want to acquire a new book of business, if they have a partnership buy-in or if they have a succession plan and want to transfer their book to an heir apparent. It provides a loan secured against the advisor’s professional corporation up to a maximum of $50 million. Tyler Wilson, associate and business development manager at CWB Maxium Financial, told WP the value is calculated by the recurring revenue generated by the...

How tech opens doors for better wealth management

Just a few years ago, financial advisors regarded technology with suspicion as encroaching robo platforms threatened to steal client assets and market share. Fast forward to today, and many in the financial-services industry are recognizing how algorithms and machines can enhance their practice. That change of heart is plain to see in a new report released by Forbes in partnership with Temenos, a provider of software solutions for banks and financial-services firms. Building on past studies, The Next Generation Wealth Manager draws from a survey of 305 high-level executives at investment banks and private banks, as well as 105 high-net-worth...

Backgrounder: Proposed Changes to the Tax Treatment of Employee Stock Options

Employee stock options, which provide employees with the right to acquire shares of their employer at a designated price, are an alternative compensation method used by businesses to attract and engage employees, and encourage growth. Many smaller, growing companies, such as start-ups, do not have significant profits and may have challenges with cash flow, limiting their ability to provide adequate salaries to hire talented employees. Employee stock options can help these companies attract and retain talented employees by allowing them to provide a form of compensation that is linked to the future success of the company. Source

News and tips about income tax in Canada

Secret PET file destroyed

The Canadian Press has learned that Canada's spy service destroyed a .... taxes, payroll taxes (including the Canada Pension Plan), health taxes, ... Source