2024 Wellington-Altus Corporate Tax Reference Card
LIF and RLIF Minimum & Maximum Factors
Personal and Corporate Tax Integration Reference Cards 2024
Form T1135 – Foreign Income Verification Statement
2024 Canada/U.S. Cross-border Tax Reference Card
Income Tax Information Slips: Important Dates
Income Tax Returns: Important Dates and Deadlines
If you are collecting or have applied to collect your Canada Pension Plan retirement pension benefits (CPP) and have a spouse or common-law partner (CLP) in a lower tax bracket, you may want to consider sharing your CPP benefits with them. Let’s look at the “why, how, what and when” of CPP sharing.
While generally a cause for celebration, retirement often comes with its fair share of financial anxiety. Research indicates that many people fear outliving their savings, resulting in an inability to enjoy life to the fullest throughout retirement.
Canadians have historically relied upon employer-sponsored pension plans, government benefits and their own assets—including rising real estate prices—to cover their financial needs in retirement. But as the economic and retirement landscape changes, Canadians should consider the following points as they prepare for their retirement years:
When it comes to estate planning, co-ordination of documents and details such as beneficiary designations matter. A lack of planning and out of date or incomplete documentation can result in additional costs, delays and taxes for your estate, or a loss of control over certain aspects, such as the guardianship of minor children and/or how you want your assets to be distributed when you die.
For business owners or incorporated practitioners that generate surplus funds not required to meet personal lifestyle needs or the needs of the business or practice, the question becomes how to maximize the value of these funds?
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