The Ontario Minister of Finance approved protection for the Financial Planner title. The act will come into force on March 28, 2022. The legislation creates guidelines and regulations around the use of the title Financial Planner and Financial Advisor. There will be a minimum standard professionals must adhere to. Historically anyone could call themselves a Financial Planner or Advisor with no credentials to prove appropriate expertise to give financial advice. This legislation will change that and hopefully, the rest of Canada will follow suit.
CRA publishes prescribed interest rates each quarter. If you are in arrears to the government, for example, late in paying your income tax instalment, you will be charged interest.