Tax Planning
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
RRSP Contributions – Facts & Figures
With the March 1st deadline for RRSP contributions for 2010 looming, here are some facts and figures to help you organize and ensure that you reap the maximum benefits from your RRSP contributions: The maximum RRSP contribution limit for 2010 is the lower of 18% of ...
0 Comment | Posted in Retirement Planning,RRSP,Tax Planning
February 25, 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
Good Time to Die if you have Assets in the US
If you were always worried about paying estate taxes on your U.S. assets, 2010 represents a rare opportunity as no U.S. estate taxes will apply to the estates of those who die in 2010. This is due to the fact that the U.S. congress progressively reduced ...
6 Comments | Posted in Estate Planning,Life Insurance,Retirement Planning,Tax Planning
December 06, 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
