Contributions and benefits under government pension plans are adjusted periodically to reflect increases in the Consumer Price Index or the average Canadian wage. The new amounts, commencing January 1, 2012, are shown in the table below. Each benefit is subject to income tax when received, with the exception of the Guaranteed Income Supplement and the […]
A properly drafted will must be crystal clear as to the objectives of the testator. The courts are busy interpreting provisions of wills when the beneficiaries cannot agree on their legal meaning. The process of hiring lawyers to opine on the legal meaning of a provision, or hiring lawyers to object to the interpretation of […]
There was a time when a conversation about budgeting was completely unheard of, at least in “polite” public company. Canadians kept their money issues to themselves, and initiating conversations on this topic was generally considered invasive. Today, the topic of budgeting is everywhere around us, from lower school to post-graduate studies, and from home magazines to daily newspapers. Budgeting is critical at […]
For every decision in life, there is often a set of pros and cons that motivate us to carefully consider all aspects of the choice at hand. In reaching the final decision, it is not unusual to feel that you had to make a trade-off, whereby you gained a significant benefit while simultaneously foregoing something […]
If you’re one of our client’s, I’ve got a great little Christmas gift for you. You probably don’t know it, but this year pick pockets are becoming virtual. That’s right, armed with a mobile RFID reader readily available on eBay, they are literally pickpocketing your credit card and bank card numbers just by brushing past […]
Even simple things can have nasty endings. A recent case had four brothers, equal shareholders of an operating company, appearing before the Tax Court of Canada. The brothers had arranged for life insurance to be purchased by the corporation in order to fulfill the funding obligation of their buy-sell arrangement. As the owner of the […]
Saving in advance of a need makes financial sense. For example, starting a sinking fund or savings plan early can help parents fund the cost of higher learning for their children. Without an established pool of funds, many families would have a hard time finding the cash flows needed to finance education expenses. With an […]
Apologies in advance for those I may offend here. It’s not my intent to stir the pot and create animosity, but rather to take a hard look at the protests which are spreading globally, and offer a few humble suggestions. Unfortunately, today there exists a need for substantial change if we, as a society, are […]
It is during times of distress when I like to remind clients of the characteristics of great investors. Part of my job as an advisor is to keep people from jumping off the investment train when it is starting to look like it may have lost it’s brakes and is headed downhill. It is during […]
There is a new type of insurance package available that is dramatically changing the insurance industry for the better. Getting insurance coverage done right has always been a challenging thing for almost everyone apart from the rich. Once you get a little older, coverage costs go up and unless you are willing to commit a […]