Financial Planning for Business Owners
Less Favorable Rules for Donation of Publicly Listed Flow-Through Shares
Before the 2011 budget, when flow-through shares were donated to a charitable organization, the donor could receive generous tax credits and deductions that would result in little after-tax cost. This was due to the fact that the donor could take advantage of the deduction for ...
0 Comment | Posted in Charitable Giving,Estate Planning,Financial Planning for Business Owners,Investments,Retirement Planning,Tax Planning
July 31, 2011
Changes in Individual Pension Plans (IPPs)
The 2011 budget proposed that starting in 2012, the IPP will be required to pay out an amount equal tothe greater of the regular pension amount payable, and the minimum payment that would have beenrequired if the IPP were a RRIF once a plan member ...
0 Comment | Posted in Financial Planning for Business Owners,Retirement Planning,Tax Planning
July 08, 2011
CPP Changes in 2011 and their Impact on your Retirement Planning
. Starting January 2011 the rules that apply to Canada Pension Plan (CPP) have changed. Since the CPP is a component of retirement income for all Canadians it is important that you are aware of the changes and consider them in your retirement ...
0 Comment | Posted in Financial Planning for Business Owners,Retirement Planning,Tax Planning,Uncategorized
June 03, 2011
Spousal Prescribed Rate Loans Deadline is January 30th
If you have made a prescribed rate loan to your spouse to take advantage of the current historically low prescribed rate of 1% and allow your lower income earning spouse to invest the proceeds of the loan and therefore pay less taxes on the interest, ...
2 Comments | Posted in Financial Planning for Business Owners,Investments,Tax Planning
December 28, 2010
New Tax Treatment for U.S. Social Security Benefits
Effective January 1, 1996, the Canada-United States Tax Convention was modified to require Canadian residents to include 85% of U.S. Social Security benefits received in taxable income. This was an increase from the previous 50% inclusion rate. Budget 2010 proposed to reduce the inclusion rate ...
3 Comments | Posted in Financial Planning for Business Owners,Long Term Care Insurance,Tax Planning
November 19, 2010
