The 2014 Federal Budget has proposed to conduct a public consultation of the income tax rules with, in respect to eligible capital property, a view to “levelling the playing field” with other types of property. Among other changes, the proposed rules will impact taxpayers that sell the assets of their business when some of the […]
The Canada Pension Plan (CPP) provides a number of benefits, the most significant of which is the retirement pension that forms an integral part of most Canadians’ financial plans for retirement. The Quebec Pension Plan (QPP) provides parallel benefits for Quebec residents. Every contributor to these government-sponsored pension plans will eventually need to make important […]
Family cottages often represent great memories. The cottage can be an important retreat where families congregate in a relaxed environment, developing close relationships with successive generations. Alternatively, the cottage may be an economical vacation spot that families count on year after year. The cottage could be a simple structure on a remote lake, or a […]
Agriculture is an important industry for Canada, with over 200,000 farms averaging approximately 800 acres currently in operation. Farm performance remains strong, and asset values, particularly land, continue to grow. Like other business owners, farmers need to carefully plan for succession of their business operations. Important considerations include: Funding any income tax liability that arises […]
In general terms, a shareholder is subject to tax on the value of any assets withdrawn, whether directly or indirectly, from his or her company. This would include physical assets or money, such as dividends, a draw or a loan. Some of the exceptions to this general rule include a withdrawal of paid-up capital, payment […]
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 […]
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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.
