Kim G C Moody’s Musings – 1-1-1 Newsletter For April 10, 2024
1. Taxation – is the CDN tax system at a tipping point? Yes…and the solution is tax reform / review;
2. Leadership – leaders need to speak up; and
3. Economics – our provinces lack of regard for proper budgetary planning is very concerning.
Kim G C Moody’s Musings – 1-1-1 Newsletter For April 3, 2024
1. Taxation – the “bare trust” debacle provides valuable lessons including the need for tax reform / review;
2. Leadership – being a good leader requires constant practice and learning; and
3. Economics – Canada is in an “emergency break glass” situation regarding our productivity.
Kim G C Moody is quoted in the CBC News Story “Government falling short on promise to roll out automatic tax filing pilot, experts say,” on March 26, 2024.
Canada should move toward the U.K. model of taxation. Under that model, those with simple tax situations have their returns filed automatically but can correct any inaccuracies later. Read more of my thoughts on how the federal government is falling short of its promise to pilot a new automatic tax filing program for 2024. Read…
Read MoreKim G C Moody’s Musings – 1-1-1 Newsletter For March 27, 2024
1. Taxation – it’s time to re-introduce income averaging back into Canada’s personal tax system;
2. Leadership – good leaders are firm and decisive and resistant to “trendy” movements; and
3. Economics – Canada’s federal government spending is up…way up.
Kim G C Moody is quoted in the Investment Executive article “We know we need tax reform, but can’t agree how to do it,” on March 22, 2024.
“Many vulnerable Canadians miss out on benefits because they are either too intimidated to file taxes or can’t afford to pay for professional tax preparation.” I provide my thoughts to author Jonathan Got on how tax reform could mean easier access to benefits and provide a boost to productivity. Read the article HERE.
Read MoreKim G C Moody’s Musings – 1-1-1 Newsletter For March 20, 2024
1. Taxation – the need for automatic tax filing – Part Deux;
2. Leadership – good leaders don’t need to throw stones at every barking dog; and
3. Economics – Canada’s Parliamentary Budget Officer released its March 2024 Fiscal Outlook…it’s not good.
Kim G C Moody’s Musings – 1-1-1 Newsletter For March 13, 2024
1. Taxation – the new trust reporting rules are daunting and need amendments;
2. Leadership – good leaders learn to say “no”; and
3. Economics – the Canadian federal 2024 federal budget will be released on 4/16/24 and will be devoid of policy but lots of spending.
Kim G C Moody’s Musings – 1-1-1 Newsletter For March 6, 2024
1. Taxation – the 2024 Report on Federal Tax Expenditures released!
2. Leadership – words of wisdom from the Right Honorable Brian Mulroney; and
3. Economics – the CMHC first time home buyer incentive program is scrapped….shocker.
Kim G C Moody is quoted in The National Post article “FIRST READING: Canadian taxes aren’t just high, they’re needlessly complicated to file,” on February 21, 2024.
“Today’s Income Tax Act is incomprehensible, even to tax professionals.” Read more of my comments in this Tristin Hopper article that sheds light on our overly complex Canadian tax system. Read the National Post article HERE.
Read MoreKim G C Moody’s Musings – 1-1-1 Newsletter For February 28, 2024
1. Taxation – using the tax system to try to solve Canada’s housing challenges is great politics but not great policy;
2. Leadership – Morgan Housel’s new book – Same as Always – is a great read about focusing on things that don’t change; and
3. Economics – how much in tax revenues will the CDN government collect from its crazy short-term rental proposal?