One of the more popular tax planning strategies is “income splitting.” To the extent income can be shifted within a family unit from a higher income earner to a lower income earner, less income tax is paid and more after-tax income is retained within the family unit. As one might guess, the government has a […]
Individuals in receipt of eligible pension income can allocate or split up to 50% of the income with their spouse or common-law partner, and the allocated income is reported as the spouse’s taxable income. This allows the shifting of income from a higher-income spouse to a lower-income spouse, enabling the couple to reduce their combined […]
Generally speaking, the more educated a country’s population, the higher the level of productive output and ultimately the more beneficial the outcome to the country as an economic engine. In Canada, education comes with an ever-increasing price-tag. The average tuition fee for undergraduate programs in Canada reached $5,772 for the 2013-2014 school year — a […]
A testator will often transfer assets into a trust for his or her surviving spouse after death. The reasons for transferring these assets may be tax-based because a rollover of property is allowed to a spousal trust. Sometimes the testator wants to set aside assets to provide for the ongoing financial security of the surviving […]
There are times when a business owner may wish to use the business to fund a life insurance policy and have the proceeds from the policy flow to a specific party. This may occur for any number of reasons including: A business owner may want to continue life insurance coverage on the life of a […]
Wills are the documents used to capture testators’ last wishes for the disposition of their estates. When the words in a will create ambiguity, it can disrupt the testator’s intentions and create angst amongst those involved with the estate, particularly the executors, trustees and beneficiaries. Ultimately, the intervention of the courts may be required. Great […]
In a recent tax case (The Queen v. Craig) that was appealed all the way to the Supreme Court of Canada (SCC), a lawyer successfully argued that his significant farm losses should be deductible against his other income. The SCC’s decision reversed the long-standing precedent that for farm losses to be fully deductible against other […]
Here is a great book to read. My blog title seemed like an absurd statement until I got into reading Salt, Sugar, Fat. I’m typically not one to blindly buy into conspiracy theories or idly place blame. So right up front in this blog piece I’ll answer my own question. No, the food giants are […]
In the 2013 Federal budget, the government announced a review of the income tax provisions with respect to testamentary trusts. On June 3, 2013, the Department of Finance released a consultation paper that outlines proposed changes to the taxation of testamentary trusts. This consultative process gives Canadians the opportunity to review the proposals and provide […]
“You who are on the road must have a code that you can live by” Crosby, Stills, Nash & Young If you talk to many parents about today’s youth and you’ll quickly hear about the culture of entitlement that exists amongst teenage kids of well off families. This is no imaginary problem. Some would say […]
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At M.A. Schneider Insurance, we believe the saver deserves to be celebrated.
After all, it’s the saver that is conscientious every day to gradually create wealth for all.
That habit not only creates security for them but for their families and for the community as a whole.
We think they sometimes lose sight of how important they are.
This blog is here to help them. To help inspire them to stay the course and ultimately lead the great lives that they deserve.
1. Insight we gather about what’s going on that may affect the long-term quality of your life…
While there is a lot on the Internet, we know that making the best decisions for your life is often based on knowing just what your options are.
2. We hope that understanding what’s going on will help with perspective on what you can do.
3. New innovation and resources you can seek out.
This blog will offer an insight into the future because whether we like it or not, we’re going there. We’ll do the research to find the innovations that you should know about.
