Posts Tagged capital gains

USE YOUR TFSA CONTRIBUTION ROOM TO MAXIMIZE TAX FREE GROWTH

    Starting January 1, 2016, the annual TFSA dollar limit decreased from $10,000 to $5,500 and will be subject to indexation. The TFSA contribution limit for 2018 will remain $5,500. This is since the indexation adjustment for personal income tax and benefit amounts is 1.5% for ...

Comments Off on USE YOUR TFSA CONTRIBUTION ROOM TO MAXIMIZE TAX FREE GROWTH   |   Posted in Investments,Latest News,Tax Free Savings Accounts February 02, 2018

TAX HIKE EXPECTED FOR HIGH INCOME EARNERS

 The Liberal government of Prime Minister, Justin Trudeau, plans to increase taxes for high-income earners and to cut taxes for what they define as “middle class” in Canada. The new government plans to do this by reducing the federal tax rate to 20.5% from the ...

Comments Off on TAX HIKE EXPECTED FOR HIGH INCOME EARNERS   |   Posted in Latest News,Tax Planning February 13, 2016

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

SMALL BUSINESS CHANGES

 The 2015 Federal Budget included some notable changes that would be of interest to business owners. The following are the two major changes announced in the budget in this regard. REDUCTION OF THE SMALL BUSINESS TAX RATE A surprising but very welcome proposal in the budget was ...

Comments Off on SMALL BUSINESS CHANGES   |   Posted in Financial Planning for Business Owners,Latest News,Tax Planning August 03, 2015

DONATION OF PRIVATE CORPORATION SHARES OR REAL ESTATE

  After significant efforts by the charitable sector, the 2015 Federal Budget proposed to allow an exemption from capital gains tax if proceeds of sale of private corporation shares or real estate are donated to charity within 30 days after disposition. This was great news for ...

Comments Off on DONATION OF PRIVATE CORPORATION SHARES OR REAL ESTATE   |   Posted in Charitable Giving,Estate Planning,Financial Planning for Business Owners,Latest News August 03, 2015

Save Tax by Purchasing Flow-through Limited Partnership Units

Although flow-through limited partnerships are not suitable for all investors, they can be used to defer tax payable in the year of a capital gain. Because flow through shares provide deductions against taxable income (typically within the first two years of purchase), the deductions ...

Comments Off on Save Tax by Purchasing Flow-through Limited Partnership Units   |   Posted in Financial Planning for Business Owners,Flow-Through Limited Partnerships,Savings and Investments,Tax Planning February 21, 2010

Don’t Miss the Opportunity to Set up a Spousal Loan

If there was ever a time that you would want to consider using spousal loans, this is it. The current prescribed rate on a spousal loan is 1%, which is the lowest the prescribed rate has ever been. This is really as good ...

Comments Off on Don’t Miss the Opportunity to Set up a Spousal Loan   |   Posted in Credit and Debt Management,Financial Planning for Business Owners,Mutual Funds,Stocks,Tax Planning January 05, 2010