Retirement Planning

HOW TO MAKE MORE TAX DEDUCTIBLE CONTRIBUTIONS

  How to Make More Tax Deductible Contributions to Your Retirement Savings than the Maximum Allowable RRSP Contribution Room”

Comments Off on HOW TO MAKE MORE TAX DEDUCTIBLE CONTRIBUTIONS   |   Posted in Financial Planning for Business Owners,Latest News,Retirement Planning August 20, 2018

RRSP FACTS AND DEADLINE FOR MAKING YOUR 2017 CONTRIBUTION

      The RRSP contribution limit for 2017 is 18% of your 2016 income or $26,010, whichever is less. The contribution limit for 2018 is $26,230. If you are a member of a registered pension plan, then you need to deduct your pension adjustment (the amount on ...

Comments Off on RRSP FACTS AND DEADLINE FOR MAKING YOUR 2017 CONTRIBUTION   |   Posted in Latest News,Retirement Planning,RRSP January 24, 2018

RRSP CONTRIBUTION LIMIT AND DEADLINE FOR 2016

  The RRSP contribution limit for 2016 is 18% of your 2015 income or $25,370, whichever is less. If you are a member of a registered pension plan, then you need to deduct your pension adjustment (the amount on line 52 of your T4 slip) from ...

Comments Off on RRSP CONTRIBUTION LIMIT AND DEADLINE FOR 2016   |   Posted in Investments,Latest News,Retirement Planning,RRSP February 06, 2016

TFSA CONTRIBUTION ROOM IS DECREASED TO $5,500

 Under proposed legislation by the new Liberal government, starting January 1, 2016, the annual TFSA dollar limit for 2016 will decrease from $10,000 to $5,500 and will be subject to indexation. Tax Free Savings Accounts (TFSAs) were introduced by the federal government in 2009. Canadian residents ...

Comments Off on TFSA CONTRIBUTION ROOM IS DECREASED TO $5,500   |   Posted in Investments,Latest News,Retirement Planning,Tax Free Savings Accounts,Tax Planning January 27, 2016

TFSA CONTRIBUTION LIMIT HAS INCREASED

 One of the major changes introduced in the 2015 federal budget was the increase in the annual contribution limit for Tax Free Savings Accounts (TFSA) from $5,500 to $10,000, effective January 1, 2015. This new annual limit will apply to 2015 and all subsequent years ...

Comments Off on TFSA CONTRIBUTION LIMIT HAS INCREASED   |   Posted in Investments,Latest News,Retirement Planning,Tax Planning August 03, 2015

SNOWBIRDS SHOULD PROTECT THEMSELVES AGAINST THESE RISKS

  SNOWBIRDS SHOULD PROTECT THEMSELVES AGAINST THESE RISKS If you are a Canadian retiree who spends significant portions of the year vacationing south of the ...

Comments Off on SNOWBIRDS SHOULD PROTECT THEMSELVES AGAINST THESE RISKS   |   Posted in Estate Planning,Latest News,Retirement Planning,Tax Planning April 30, 2015

TRANSFERRING YOUR WEALTH TO THE NEXT GENERATION GRADUALLY

  Many people who have minor children or beneficiaries with no money management expertise struggle with how best to transfer their wealth to the next generation without the risk of  their heirs spending it frivolously and depleting the wealth that was accumulated by hard work over ...

Comments Off on TRANSFERRING YOUR WEALTH TO THE NEXT GENERATION GRADUALLY   |   Posted in Estate Planning,Latest News,Life Insurance,Retirement Planning,Tax Planning April 23, 2015

UNINTENDED CONSEQUENCES OF BENEFICIARY DESIGNATIONS

  Naming your spouse as a beneficiary of your RRSPs, RRIFs, LIFs and LIRAs is usually a good idea as these assets can rollover on a tax deferred basis only to your spouse or common law partner. However, in cases where you may not be married, ...

Comments Off on UNINTENDED CONSEQUENCES OF BENEFICIARY DESIGNATIONS   |   Posted in Estate Planning,Latest News,Retirement Planning,RRIF,RRSP,Tax Free Savings Accounts April 16, 2015

GUARANTEED INCOME IN A LOW INTEREST RATE ENVIRONMENT

  Interest rates in Canada rose fairly steadily from 1957 to 1981* with the prime lending rate reaching an all-time high of 22.75% in August of 1981. From that point on, Canadians experienced a declining interest rate environment from 1982 to 2012. While this has been ...

Comments Off on GUARANTEED INCOME IN A LOW INTEREST RATE ENVIRONMENT   |   Posted in Latest News,Life Insurance,Retirement Planning,Tax Planning April 09, 2015

PLAN YOUR CHARITABLE DONATIONS BEFORE YEAR END

  To be able to claim a tax credit for charitable donations on your 2015 tax return you need to make your donations by December 31, 2015. Donations made to charities in Canada are eligible for a charitable donation tax credit. The first $200 of your ...

Comments Off on PLAN YOUR CHARITABLE DONATIONS BEFORE YEAR END   |   Posted in Charitable Giving,Estate Planning,Latest News,Retirement Planning,Tax Planning March 30, 2015