HOCKEY AND THE CORONAVIRUS

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 pretty good analogy to use on […]

USING A TAX-FREE SAVINGS ACCOUNT AS COLLATERAL

Cassie Schneider, Licenced Advisor 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 multi-purpose vehicle helping Canadians meet their long-term savings goals.When [...]

THE UNIQUE NATURE OF A POLICY LOAN

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. The taxation of a policy loan under a life insurance contract was the subject of a recent Tax Court of Canada [...]

DOUBLING DOWN ON HEALTH

Perhaps you’re sitting at home, worried about how the next few months will turn out.  Maybe you’ve been deemed an essential service worker (or are even one of today’s heroes, running around with a crazy first responder type job).  In all situations, it’s easy to be devoured by the news and pressures of the day […]

USING A TAX-FREE SAVINGS ACCOUNT AS COLLATERAL

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 multi-purpose vehicle helping Canadians meet their long-term savings goals. When structuring a loan, a TFSA plan holder is permitted to use the interest in their TFSA to secure the […]

THE PERSONALIZATION AND COMMERCIALIZATION OF HUMAN HEALTH

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 blood types should eat certain foods.  People with certain heretical backgrounds are in greater danger than others due to […]

BETTER HEALTH THROUGH BETTER BREATH

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 improve… Improve your lung function, lung size and strength. Energy levels.  Calmness.  Quality of […]

INCOME SPLITTING: AN EFFECTIVE WAY TO INCREASE CASH FLOW

The concept of income splitting involves shiftingincome from one family member, who is in a highermarginal tax bracket, to another family member,who is in a lower marginal tax bracket, with theprimary objective of paying less income tax overallacross the family unit. Paying less tax usually meansthere is more money remaining for consumptionand savings. Income splitting [...]

MATURING AN RSP

Maturing an RSP When it comes time to move from the accumulationphase to the payout phase, there are severalmaturity options available to holders of a registeredretirement savings plan (RRSP). Individuals candesign their retirement plans by combining differentpayout options and, in some cases, moving betweenoptions. While RRSP annuitants must shift to apayout option before the end [...]