With the April 30th tax-filing deadline come and gone, millions of Canadians will soon receive a refund. Last year, the average refund of the more than fourteen million Canadian tax-filers was $1,219.19.
What to do with that refund? Invest? Save? Pay down the mortgage? Pay off credit card balances? Go on vacation? Splurge on something special? More than 60 per cent of the estimated 23 million Canadians who file taxes this year will be asking these questions. "Deciding what to do with a tax refund is a very personal decision. There are many strategies worth considering that can significantly make a difference to one's financial situation," says Kurt Rosentreter, CFP, CA. "It pays to sit down with a professional, go through the numbers and then decide based on your personal circumstances."
Financial Planners Standards Council (FPSC) encourages Canadians to talk to a financial planner about their options - and for those expecting a refund, to participate in this month's FPSC online poll which asks what they will do with their tax refund this year. FPSC can also connect individuals with one or more of the 15,000 professionals in Canada who hold the Certified Financial Planner® (CFP®) designation, the highest standard in the industry.
Last month's poll results: More than 60 per cent of Canadians who responded to the FPSC online poll (posted from April 1 to April 30) said they were optimistic about their personal financial situation in the next 12 months. Perhaps some of these optimistic folks are expecting a refund! Twenty six per cent said they were very optimistic; 35 per cent were cautiously optimistic; nine per cent status quo. Nearly a third (30 per cent) said they were concerned (with 21 per cent concerned and nine per cent very concerned).
The time has never been better to seek sound financial advice through a Certified Financial Planner professional.
Financial Planners Standards Council is a not-for-profit organization dedicated to benefiting Canadians and the financial planning profession by establishing and enforcing education, examination, experience and ethics requirements for individuals who choose to earn the CFP designation. There are currently more than 15,000 planners licensed to use the CFP marks in Canada, and approximately 72, 000 CFP professionals in 17 countries around the world. See www.cfp-ca.org for further information.
The only thing more expensive than hiring a professional is hiring an
amateur. Spend it wisely - hire a CFP professional.
FOR MORE INFORMATION OR TO ARRANGE INTERVIEWS, CONTACT:
Eileen Chadnick/Chadnick Communications for FPSC at 416.631.7437 or e-mail eileen@chadnick.com
CFP®, CERTIFIED FINANCIAL PLANNER® and are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. (FPSB). Financial Planners Standards Council is the marks licensing authority for the CFP marks in Canada, through agreement with FPSB.
are certification marks