In this week's edition

When it comes to investment products, the darling of this inflationary moment has been the unassuming high-interest savings account (HISA) fund. With more than $29 billion in assets, much of that accumulated since interest rates started rising last year, HISA funds have dominated monthly inflow stats. They’ve also caught regulators’ attention. This week, following a review announced in May, OSFI said it’s raising liquidity requirements for the products. As of Jan. 31, banks will have to classify deposits from HISA ETFs as unsecured wholesale funding with 100% run-off. Here’s how the new rules could affect the yield offered on the products, and how the fund industry is adapting.

As far as excuses go for not filing notices of objection to the CRA in time to challenge a reassessment, “I never received the notice” may not cut it. Particularly, it turns out, when the taxpayer in question is a Canada Post mail carrier. Columnist Jamie Golombek wrote about a recent Tax Court case and the process for challenging a reassessment.

Clients who were fretting this week about filing their first underused housing tax return received a last-minute reprieve from the CRA. The agency extended the deadline on Tuesday afternoon for a second time. Clients now have until April 30, 2024, to file the return and pay any tax owing for the 2022 calendar year without facing penalties and interest.

Clients named as executors probably have some idea of what they’re getting into in terms of paperwork, possessions and managing family relationships. One thing they may not have considered is disposing of the deceased’s remains. While executors can, and usually do, follow the deceased’s wishes, Rudy Mezzetta reports that the executor has the final say. Here’s what clients should know about arranging a funeral, including in cases where there’s no money in the estate to pay for one.