Posts Tagged tax
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 News About Tax Treatment of Corporate-owned Life Insurance Policies
. Generally in cases where corporate-owned life insurance is required, it is recommended that the corporation be the owner and the beneficiary of the life insurance policy. This way, the death-benefit of the policy can flow through the corporation’s capital dividend account (CDA) and be ...
7 Comments | Posted in Business Succession Planning,Estate Planning,Financial Planning for Business Owners,Insurance,Life Insurance,Life Insurance,Tax Planning
October 09, 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 ...
7 Comments | Posted in Financial Planning for Business Owners,Savings and Investments,Tax Planning
August 04, 2010
Quick RRSP Facts
The RRSP season is upon us once again and it is time to take stock of your income in 2009, your RRSP contribution room and the optimal amount that you need to contribute to your RRSP before the March 1st, 2010 deadline, in order to ...
1 Comment | Posted in Financial Planning for Business Owners,Retirement Planning,RRSP,Savings and Investments,Tax Planning
January 17, 2010
Tax Loopholes in TFSA Rules are Eliminated
In October 2009, Finance Minister Jim Flaherty announced amendments to the Income Tax Act that would put an end to the “tax planning schemes” that undermine the intent of Tax Free Savings Accounts (TFSA) as a savings vehicle. These amendments addressed deliberate over-contributions, asset transfer transactions, ...
69 Comments | Posted in Financial Planning for Business Owners,Retirement Planning,Savings and Investments,Tax Planning
December 20, 2009
