Top 25 stories of 2018

On the top of the world together. A group of people stands on a hill over the beautiful cloudscape. — ©Anton Yankovyi / 123rf stock photo

This year was supposed to resolve many burning issues facing advisors.

The federal government finalized its small business tax reforms in Budget 2018, deciding to reduce the small business tax deduction as passive income rose above $50,000. Most folks considered the matter closed, but the new Ontario government said in its fall economic statement that it won’t implement the federal rules.

Ontario also threw cold water over the Canadian Securities Administrators (CSA) proposal to ban deferred sales charge funds—a proposal that itself was seen, in some circles, as a disappointing retreat from a full embedded commissions ban.

The industry now awaits CSA’s next move on client-focused reforms. The comment period closed in October, with industry groups and investor advocates alike having their say.

In the tax world, the Canada Revenue Agency finally released a long-awaited tax folio on RRSP and TFSA abuses. At the same time, the agency confirmed that it would delay implementing a controversial registered fee position “indefinitely.” The advisor community has been waiting for CRA’s guidance since November 2016, when the topic came up at a Canadian Tax Foundation roundtable.

These issues and more were reflected in the top 25 stories of 2018. Without further ado, here they are.

25. What Manulife’s top executives earned in 2017

24. What’s in store for Canada’s condo market

23. Don’t let a vacation property dream become a tax nightmare

22. How retirees can accumulate RRSP room

21. Last chance for family loans: prescribed rates to rise April 1

20. IIROC fines rep $40K for OBA

19. CPP increase will raise family costs by more than $2K: report

18. Holding private company shares at death could cost your client

17. The hidden value of financial planning

16. Trailing fees paid to TD brokers result in proposed class action