Tax_Clothes_Pins

Last December we reported on tax filing concerns triggered by CRM 2 requirements for 2015. The next round of requirements also raises tax-related issues, so the Investment Industry Association of Canada (IIAC) has prepared a plain-language tip sheet for advisors.

It shows how ‘tax cost’ for CRA and Revenue Quebec relate to the new securities regulatory terms ‘original cost’ and ‘book cost.’ While ‘tax cost’ and ‘securities regulatory cost’ will often be the same, they may not be in all cases.

Read IIAC’s tip sheet to understand the differences.

Also read:

10 reasons Canada needs a single regulator

How to answer common fee questions

How young advisors can take advantage of CRM 2

Originally published on Advisor.ca

Add a comment

You must be logged in to comment.

Register on Advisor.ca