by Neil Mathieson, CPA, FICB
We are nearing the end of the summer of 2014 that never really happened; it was either too rainy or too cold. The weather gods are promising us a much better fall, with mild temperatures, and we sure do hope they will get their forecast right!
While summer may not have been ideal, we have moved forward with some exciting new changes designed to enhance the services and programs with which we can provide you.
I would like to take this opportunity to introduce our newest associate Charlotte Graham. Charlotte comes to us from Strategic Alliance Financial Group and will be assisting with updating customer files and performing needs analysis to ensure the best possible service for you.
One of the key analytic tools which Charlotte will be making available to you, will be her GPS program which will help restructure your wealth to significant advantage.
This program is designed to analyze your “financial health” and examines both sides of your balance sheet in order to maximize your money making prospects, now and in the future as you move toward your financial goals.
On a personal note, I have some thoughts about the electronic filing of your tax return. Although there are some clear advantages to filing tax returns electronically, such as in savings of postage and paper, and time due to the nearly instantaneous transmission of the return, there are some drawbacks.
One of these drawbacks is that electronic filing has resulted in computers doing the bulk of the work of assessing your tax return.
Also, since electronic returns are filed so efficiently, some financial experts believe that e-filing might slightly increase the chance your return will be audited, since the financial information has already been conveniently filed in the CRA computer system, as opposed to first being scanned and analyzed from hand-written forms.
Another drawback is that more and more people are trying to file their returns themselves, using tax software. Unless you have a clear understanding of the software and tax rules, you may be filing your tax return incorrectly. Some clients find it hard to resist the temptation to “override” the fields, thus resulting in filing errors. This type of issue, can easily be avoided by utilising a tax expert to complete and file your return.
It is difficult to negotiate with a computer, so please do not hesitate to contact me if you have any difficulties or problems whatsoever concerning your Notice of Assessment from the Canada Revenue Agency.
Another exciting development recently is that my colleague, Margaret Janecki, Financial Advisor, has obtained her certification in the area of elder care and now also carries the designation of EPC (Elder Planning Counsellor).
In the next issue of Mathieson on Making Your Money Matter For Life, Margaret will be writing a column on the subject of elder care, and explaining how an Elder Planning Counsellor can help guide you through the “golden years” of your retirement.
Finally, we now provide a new income protection program called Safe Driver, from La Capitale, which will be paid out over and above any existing insurance programs, including that of your car insurance.
This program is highly suitable for those drivers ranging from age 16 to 85 and its advantages are well worth considering.
Neil Mathieson