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 [...]

SEAN SCHNEIDER on ONE THING THE BUDGET GOT RIGHT

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 it near impossible to save the 10% minimum downpayment required to qualify for even a [...]

SPOUSAL SUPPORT

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 […]

THE NEW (OLD) NORMAL

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 […]

EXPANDING THE CRA’S INVENTORY OF DATA ASSETS

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 […]

THE DATA INDUSTRIES TIPPING POINT

Like a crisp fall evening where the chill in the air instinctively tells you the season is about to change, the data industry feels like it has just hit its tipping point. And despite the odorous smell coming from Facebook and it’s questionable ties to Cambridge Analytica, and the manipulation of the American election, this […]

PREPARING FOR TAX SEASON

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 […]

INCREASED MARKET VOLATILITY MAY BE THE NEW NORMAL

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 […]