Posts Tagged Income-Splitting

TRIGGER PENSION INCOME IF YOU ARE OVER AGE 65

If you are 65 or older, you should ensure that you generate at least $2,000 of eligible pension income each year, even if you do not need the extra income. This will allow you ...

Comments Off on TRIGGER PENSION INCOME IF YOU ARE OVER AGE 65   |   Posted in Latest News,Retirement Planning,Tax Planning March 24, 2015

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, ...

Comments Off on Spousal Prescribed Rate Loans Deadline is January 30th   |   Posted in Financial Planning for Business Owners,Investments,Tax Planning December 28, 2010

Top Ten Reasons You Should Own a Tax Free Savings Account

- If you have maximized your RRSP contributions, the TFSA gives you another way to shelter $5000 per year of your investments from taxes. - TFSAs can be a great place to hold emergency funds as you can hold short-term interest bearing instruments in a tax-sheltered environment ...

Comments Off on Top Ten Reasons You Should Own a Tax Free Savings Account   |   Posted in Financial Planning for Business Owners,Savings and Investments,Tax Planning August 04, 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

TFSA – Another Income-Splitting Tool

f you have a good accountant, you must have heard of income splitting and most likely have been using this strategy to split income with your family members to reduce your overall taxes by ending up in a lower tax bracket. You may also have been ...

Comments Off on TFSA – Another Income-Splitting Tool   |   Posted in Financial Planning for Business Owners,Tax Free Savings Accounts,Tax Planning July 31, 2009