It’s been a month since our last update and things have not improved. I’m not talking about the markets (they’re up), but rather the Coronavirus and its ramifications on society and the global economy. A few days ago, the IMF confirmed what was starting to become clear during our last update. That the global economy […]
From time to time Separation Agreements and the obligations and spousal support payments come under dispute. It is important to understand tax and other consequences when attempting to change or amend a separation agreement and to include your accountant and lawyer in the process. When couples experience a break down in their relationship, one of […]
Markets are likely to continue to bounce around with greater volatility than we’ve seen for the past decade. We’re calling it the New Normal. A return to markets of old. Fortunately, 2019 seems to be off to a good start as we’ve seen a rebound from a terrible month of December (which was the […]
In the 2017 federal budget, the government announced it was considering new ways to improve tax reporting requirements for trusts in order to better collect beneficial ownership data. This has led to an announcement in the 2018 federal budget that outlines the government’s intention to bolster the Canada Revenue Agency’s (CRA) ability to audit trusts […]
As we enter a new year, the process of planning for the 2018 personal tax return season becomes top of mind for many. The primary objective is to ensure that the least amount of income tax is paid within the legal framework. The following are a few of the more commonly missed items when taxpayers […]
Wondering why the market has are becoming more volatile as of late? Simply put, the U. S government has been borrowing too much money for the bond market to absorb over the last year. That’s despite very strong corporate profitability, a good economy and the tax revenues that come along with it. Gone are […]
Pension income splitting is a tax savings strategy designed to lower a couple’s overall family tax bill, leaving more disposable income. When filing their annual income tax returns, a couple can jointly elect to shift up to one-half of eligible pension income from the spouse in a higher tax bracket to the spouse in a […]
The system in place to tax Canadian dividend income is designed to achieve “integration.” The intent of integration is to ensure that the combined total personal and corporate tax imposed on different types of income received directly or from a corporation is roughly equal. In other words, integration tries to ensure that there is no […]
Filing a tax return isn’t always an easy task. Taxpayers want to ensure they claim every deduction and credit to which they are entitled. This means spending time under- standing the opportunities. Reporting income is simplified for many types of income because T-slips are issued to the taxpayer. The Canada Revenue Agency (CRA) is quick […]
We’re entering the age of customized medicine and health which is tailored individually to us – not people ‘like’ us. For decades we’ve been subject to recommendations from health professionals suggesting things like people with certain b...
Here’s some practical advice that some of our team members have practiced over the years. It is even more practical and important today than ever. There are simple breathing techniques, which if done with some regularity have been proven to...
One thing the Canadian government seemed to get right in this year's election orientated budget was the increase in RSP allowance first time home buyers are eligible to withdraw for a down payment.Too many hard-working younger generation Canadians are finding...
A new satellite cell phone company may be on the cusp of changing human history. By deploying a new approach using nanosatellites, Ubiquitlink appears poised over the next few years to connect the planet’s whole off-grid population to the Internet.Nanosate...
You may be in for a shock over the next few years as the well-meaning though overly generous Federal and Provincial government spending and policies come home to roost. Canadians are borrowing money at a record rate bringing with it rapid inflation. We a...
We are Canadian. And so we think of things in Canadian terms. Even in this upside-down year with hockey season being played at the height of the summer. Some of us (like Mark) like to use hockey analogies. And the timeline of a hockey game is actually a pre...
One of the countries’ top insurance underwriters put out an article detailing some of the changes that Covid-19 has left on the insurance industry. If you’re interested in the industry, as we are, it’s worth a read....
Talk to us about whether it’s wise or not to use your TFSA as collateral. Cassie Schneider Tax-Free Savings Accounts (TFSA) have become integral to the financial plans of many Canadians. During the 10-years since inception, the TFSA has proven to be a mu...
A policy loan is a uniquely defined transaction that can only involve a life insurance policy. The Income Tax Act (ITA) clearly sets out the consequences of a policy loan and its eventual repayment....
