Common Confusion

Mar 18, 2016 | Dian Chaaban


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Every year or so, someone will send me a text or an email that says, “Happy St. Patty’s Day!” and depending on my mood I’ll reply in some witty manner about how a “patty” is actually a hamburger or that “Patty” is probably a nice lady who “prefers Patty instead of Patricia”…

 

While it isn’t so much of a big deal, the confusion between Patty and Paddy seems to be a common one, much like the confusion and ambiguity around tax season. So today, I’d like to break both down for you.

 

"Paddy" is the proper way to shorten the Irish name of Pádraig, which has since been Anglicized (which literally means "made into English") as "Patrick." The name means "noble born" and comes from the Latin roots for "patriarch" — you know, like Father, because St. Pádraig was a priest.

 

[As a side note, I thought it was pretty neat that my very good friends Jeff & Kristin Noble welcomed their new baby boy, William John Noble, to this world on St. Paddy’s day - and you can see where the pun lies in the meaning behind the name].

 

So, now you know: it’s Paddy, not nice lady Patty. Moving right along, tax season is here (everyone's not so favorite time of year) and to help break it down for you, I’ve complied a quick hit list of the things you need to know:

  • Personal income tax filings are due on or before April 30, 2016
  • For those of you who are self-employed, filings are due on June 15, 2016
  • By now, you should have received all of the documents you need to do your taxes. To help you out, this checklist will help you understand and organize the tax slips and supporting documents you may receive related to your investments at RBC Dominion Securities.
  • Click here to read a summary of the key tax measures and changes for 2016 that may have a direct impact on you this year.
  • Click here for “Tax Tips” from the CRA
  • Click here to read “A little tax-smart personality goes a long way”, an article that outlines strategies available to help reduce our tax bill. Which strategies are best for you? It all depends on what “personality” you have as a taxpayer.
  • Click here to download my favorite Handy Financial Planning Facts summary reference sheet.