The temporary “flat rate” tax-filing method that allowed Canadians working from home due to Covid to claim expenses is no longer available for 2023. As a result, tax experts expect employers to be busy providing a completed Form T2200: Declaration of Conditions of Employment to employees. However, with pandemic-era measures largely over last year, some are seeking clarity on whether employees working from home voluntarily are eligible to claim home office expenses. Rudy Mezzetta reports.

The latest competition in the investment counsel space comes from two former BMO executives. Co-founders (and married couple) Andrew Auerbach and Jean Blacklock launched Delisle Advisory Group in Toronto this week. Auerbach, the former head of private wealth with BMO, said new tech could allow for more independent investment counselling firms in Canada, following the RIA model in the U.S. One focus for the firm will be managing family dynamics — a specialty of Blacklock’s, an estate lawyer who’s also a registered psychotherapist. In other industry news this week, Jeff Macoun, president and chief operating officer of Canada Life’s Canadian operations, is retiring this year, with Fabrice Morin moving into the role next month.

Clients commonly name their loved ones as estate executors, given that family members tend to be most trusted to carry out last wishes and administer the estate accordingly. However, executors should be cautioned about paying for expenses on the estate’s behalf, as this could taint the estate’s graduated rate estate (GRE) status. Columnist Catherine Hung explains.

The term of the week in Canadian economic policy circles was “population trap” after a report from National Bank Financial said Canada has become ensnared in one by leaning too heavily on immigration to power the economy. The report said Canada’s outsized population growth has led to a phenomenon that usually only occurs in emerging markets: a growing population bumping up against the limits of the infrastructure needed to absorb that growth.

Finally, insurance regulators in Ontario answered questions this week about misconduct and the rejection of licensing applications. The FSRA webinar came as the regulator consults on a proposed guidance regarding the licensing suitability of life agents and MGAs. Michelle Schriver reports.