Posts Tagged tax savings

DONATE LIFE INSURANCE TO CHARITY TO MAXIMIZE TAX SAVINGS AND PHILANTHROPIC IMPACT

    Canadian Business Journal - July 2018

Comments Off on DONATE LIFE INSURANCE TO CHARITY TO MAXIMIZE TAX SAVINGS AND PHILANTHROPIC IMPACT   |   Posted in Charitable Giving,Insurance,Latest News,Life Insurance,Life Insurance July 16, 2018

Ontario Tuition Grant

More than 300,000 college and university students in Ontario whose parents' income is less than $160,000 are now eligible to apply for the Ontario Tuition Grant. This is a new program that will provide a 30 per cent tuition rebate to qualified students and aims ...

Comments Off on Ontario Tuition Grant   |   Posted in Financial Planning for Business Owners,Tax Planning January 23, 2012

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 ...

Comments Off on Less Favorable Rules for Donation of Publicly Listed Flow-Through Shares   |   Posted in Charitable Giving,Estate Planning,Financial Planning for Business Owners,Investments,Retirement Planning,Tax Planning July 31, 2011

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 ...

Comments Off on New Tax Treatment for U.S. Social Security Benefits   |   Posted in Financial Planning for Business Owners,Long Term Care Insurance,Tax Planning November 19, 2010

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