Advisors don’t want to talk about cheaper alternatives + MORE Oct 16th

Prime Minister Justin Trudeau speaks to members of the media at a press conference in Stouffville, Ont., on Monday, October 16, 2017. (Nathan Denette/CP)
Finance Minister Bill Morneau has been the face of the government’s attempts to overhaul the small business tax system, but it was the Prime Minister who took centre stage on Monday in an effort to regain control of the narrative.
The government plans to lower the small business tax rate to 9 per cent on the first $500,000 of income by the start of 2019 and leave the lifetime capital gains exemption unchanged, Justin Trudeau said at the first of what are reported to be a series of announcements concerning the proposed changes this week.
While Morneau has repeatedly framed reforms aimed at closing so-called tax loopholes as “tax fairness,” opponents of the changes claim they will reduce incentives for entrepreneurship and investment, make it significantly more difficult for family farms to be passed between generations, and further complicate tax planning for those affected…

Let’s start with a question: how would you feel if you bought something based on the recommendation from a trusted source, only to find out later that they knew there was cheaper alternative that is just as good?
That, in essence, was the question I put to the audience during a keynote presentation I delivered to the Standard and Poor’s (S&P) third annual advisor symposium in Toronto this past September. The point of my appearance was to explain how I transitioned my advisor practice from commissions to fees and, more importantly, why others should too.
I warned the assembled advisors about the inherent bias commission models and embedded compensation structures create. It’s an important issue for investors, too, since they’re the ones paying them.
Here is a simple illustration to demonstrate the point. Let’s say there are two primary ways to access a stock market that, in any given year, returns 8%. Holding advisor compensation constant at $0, the passive (benchmark-replicating) option might cost 50 bps (0…

Toronto StarTrudeau and Morneau's efforts to sugar coat their tax reforms turns into a comedy of errors: HébertToronto StarThe scramble to stifle criticism of the reforms has the government suddenly promising to cut taxes as the prime minister relegates his finance minister to a cameo role in Stouffville. Prime Minister Justin Trudeau speaks to members of the media as …Bill Morneau still on the defensive over assets as government unveils tax cutGlobalnews.caTax reforms, blind trusts and the 1 per cent: How it all went wrong for Bill MorneauThe Globe and MailJohn Ivison: Trudeau's tax-reform surrender is served with extra cheeseNational PostToronto Sun -BCBusiness -Business in Vancouver -BetaKitall 69 news articles »

Q: My half-brother has no will. He has a step-sister. Am I entitled to my half-brother’s estate? We have the same father out of wedlock.
– John
A: You say your half-brother has no will, but you did not mention if he is still alive. If he has passed without a will, his estate is considered intestate. Intestacy means that his estate is distributed by government estate distribution rules. These rules specify who controls and shares in his estate.
You must refer to the particular intestate rules where your brother resided. This determines the intestacy rules that apply. You may be able to find them online. Depending on the statutory rules you likely have a right to inherit. You have a closer legal relationship than a stepsister.
Bear in mind that an intestate estate may not include designated or jointly owned assets with rights of survivorship. Your brother could have designated his step-sister as a beneficiary of his life insurance or investments. He may own jointly owned property with his stepsister…

MONTREAL – The Quebec government is ruling out any further aid for Bombardier Inc. amid reports the company is looking for investors and considering selling aerospace assets.
Economy Minister Dominique Anglade says the province has already done more than its fair share in terms of investing in the aerospace sector.
The government invested US$1 billion in 2016 for a 49.5 per cent stake in Bombardier’s CSeries commercial jet program.
Anglade said today she welcomes news that other players might be interested in investing in Bombardier (TSX:BBD.B).
But Anglade, who is also now deputy premier, says the government will not get involved in Bombardier’s Q400 turboprop or CRJ regional jet programs.
Federal Economic Development Minister Navdeep Bains told reporters at the same event Ottawa has shown a long-standing commitment to the aerospace sector.
The post Quebec rules out more Bombardier aid amid reports company looking for investors appeared first on Canadian Business – Your Source For Business News.