7 Ways to Get More From Your Income Tax Refund

7 Ways to Get More From Your Income Tax Refund The deadline for filing your 2016 personal income tax return passed on May 1 and hopefully you are one of the people who is fortunate enough to be getting a refund. While it may be tempting to Read More...

2017 Surplus Income Standards

2017 Surplus Income Standards On February 22, 2017 the Superintendent of Bankruptcy recently released the following new standards for the calculation of surplus income for bankrupt individuals via Directive No.11R2-2017. When an individual files for personal bankruptcy the trustee will calculate whether or not he Read More...

Budgeting 101 – Part 5 of 5

The following article by Robert W. Powell, CPA CA CIRP LIT, was published in the March 2017 issue of the District News. In Part 4 of the series, I talked about dealing with lumpy expenses.  In the 5th and final part of this series I will be discussing Catastrophic Read More...

Budgeting 101 – Part 4 of 5

The following article by Robert W. Powell, CPA CA CIRP LIT, was published in the February 2017 issue of the District News. In Part 3 of this series, I discussed annual expenses.  In this Part 4, I am going to deal with lumpy expenses. Lumpy expenses, as I call Read More...

Budgeting 101 – Part 3 of 5

The following article by Robert W. Powell, CPA CA CIRP LIT, was published in the January 2007 issue of the District News. Budgeting 101 – Part 3 of 5 In Part 1 of this series, I broke life’s expenses down into Monthly, Annual, Lumpy and Catastrophic Read More...

Budgeting 101 – Part 2 of 5

Budgeting 101 – Part 2 of 5 The following article by Robert W. Powell, CPA CA CIRP LIT, was published in a November issue of the District News. In Part 1 of this series, I broke life’s expenses down into Monthly, Annual, Lumpy and Catastrophic Read More...

Budgeting 101 – Part 1 of 5

Budgeting 101 – Part 1 of 5 The following article by Robert W. Powell, CPA CA CIRP LIT, was published in a November issue of the District News. If you want to make a budget, you need to understand your expenses, short-term, medium-term and long-term. Read More...

Financial Math – The 5% House Down-Payment

Financial Math - The 5% House Down-Payment The following article by Robert W. Powell, CPA CA CIRP LIT, was published in the October issue of the District News. We grow-up in a culture where house ownership is a common and significant goal…having our own space Read More...

Will I Lose My Canada Child Benefit (CCB) If I File For Bankruptcy?

Will I Lose My Canada Child Benefit If File For Bankruptcy? The short answer is no, you will not lose your Canada Child Benefit (CCB) if you decide to file for bankruptcy protection under the Bankruptcy And Insolvency Act (BIA). The Canada child benefit (CCB) Read More...

Can A Person Have Savings During Bankruptcy?

Can A Person Have Savings During Bankruptcy? The short answer is “Yes”. By definition savings can consist of actual cash holdings, RRSPs and other investment products, pensions, and the cash surrender value of insurance policies.  Your bankruptcy trustee will recover any non-exempt portion of your Read More...