Feigenbaum Law

dormant bank accounts

Federal election

Personal Tax Planning

Federal Department of Finance Seeks New Ways to Tax Dormant Bank Accounts

CBC News is reporting this week that the federal Department of Finance wants to tax money that is currently sitting in dormant bank accounts and pension plans and to eliminate any interest that is currently paid on it. The proposal is intended to modestly increase federal revenues. The “Unclaimed Balances” Regime This news comes in the wake of a two-year consultation and review period of Canada’s “unclaimed balances” regime. The system has not… Read More