The threat of a higher capital gains tax rate is resurfacing as Ottawa looks for ways to pay down a soaring deficit amid billions in spending on pandemic-relief measures. There has been speculation ahead of each federal budget in recent years that the government will be tempted to increase the so-called capital gains inclusion rate,Read more about Is a tax hike on capital gains on the federal budget horizon?[…]

When to claim benefits from the Canada Pension Plan (CPP) – or its Quebec counterpart, the Quebec Pension Plan (QPP) – is an important financial decision for retiring Canadians. With an ageing population and widespread concern that Canadians are inadequately prepared for retirement, it is critical that retiring workers understand how to get the mostRead more about Is there Value in delaying CPP/QPP Benefits?[…]

Corporate owned insurance can have many benefits. A policy owned by your operating company though, can cause quite a few headaches. When it comes time to sell your operating company, you may find it very difficult to transfer the policy out of the company. In fact, this type of transfer can have onerous tax consequences.Read more about Corporately owned Life Insurance set-up[…]

It’s been on the News for a few weeks already and everyone is wishing it was not. It’s been named Covid 19, is causing chaos and very few are spared. What is currently happening is disrupting lives and economies around the world. No one saw it coming, not so fast in any case. Financial MarketsRead more about Keep Calm, Carry On…..Stay Invested![…]

COMPARING TFSA AND RRSP The literature on this topic abounds and yet, there still seems to be much confusion in the Canadian consumer/investor’s mind. The real difference between the RRSP and TFSA comes down to their contribution limits and withdrawal restrictions as well as how and when you pay taxes following these events. TFSA basicsRead more about The big Canadian Conundrum: RRSP OR TFSA?[…]

Will you be working in 2020? Maximum RRSP contribution: The total amount you can contribute to your RRSP each year is made up of your contribution limit for the current year plus any “carry-forward” contribution room from previous years. Your RRSP contribution limit for 2019 is 18% of the earned income you reported on your tax returnRead more about Key Tax numbers for 2020[…]

If you own a business December 31 is just around the corner, but it might not be too late to take some steps that could make a noticeable difference when come tax time. With that in mind, here are 8 important year-end reminders. If you own a business If you own a business Are previousRead more about A few year-end reminders[…]