Resources

RRSPs 101

An RRSP is a retirement savings account available to any Canadian individual taxpayer under the age of 72 and to which they or their spouse/common-law partner can contribute — subject to their respective deduction limits.

Read More »

Retirement Readiness: 10 Questions to Support the Planning Process

It’s never too early to start planning the retirement you desire. But do you have a clear idea of how you want to spend your time, and if you have the means to support the lifestyle you envision? This list of questions is designed to help you imagine the realities of your retirement years, and the financial considerations that accompany your choices.

Read More »

Key Considerations When Planning for 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,

Read More »

Tax-Free First Home Savings Account

On November 3, 2022, the Department of Finance released updated draft legislative proposals outlining the First Home Savings Account (“FHSA”). The FHSA was first introduced in the 2022 Federal Budget to address the increasing difficulty Canadians are experiencing in buying a first home due to rising real estate values.

Read More »

Understanding the New Reporting Requirements for Trusts

Is your name on legal title for any assets that you don’t have a beneficial interest in (i.e., a Bare Trust)? Perhaps your name is legally on your parents’ home, or maybe your child’s banking or investment accounts? If this is the case, you may have a new reporting obligation with the Canada Revenue Agency (“CRA”).

Read More »

Deadline Reminder: 2022 Prescribed Rate Loan Interest Payment

Clients who have implemented a prescribed rate loan should be reminded to pay the appropriate interest relating to the 2022 year on or before January 30, 2023. What is a prescribed rate loan? A prescribed rate loan is one of the few income-splitting opportunities provided to Canadians that does not contravene the various “attribution rules” found in Canada’s Income Tax Act.

Read More »

Donating Shares: A Tax-Efficient Form of Philanthropy

When it comes to philanthropy, Canadians today are more intentional, want to see the impact of their gift, and are giving more. With intentional philanthropy, clients should address the following questions: When do they wish to give? Today, next year, or in their Will? How do they wish to give? Through a one-time donation, a regular monthly/ annual donation, or by naming the charity as a beneficiary on a particular account or life insurance policy?

Read More »

The opinions contained herein are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Wellington-Altus Private Wealth. Assumptions, opinions and information constitute the author’s judgement as of the date this material and subject to change without notice. We do not warrant the completeness or accuracy of this material, and it should not be relied upon as such. Before acting on any recommendation, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Graphs and charts are used for illustrative purposes only and do not reflect future values or future performance of any investment. The information does not provide financial, legal, tax or investment advice. Particular investment, tax, or trading strategies should be evaluated relative to each individual’s objectives and risk tolerance. All third party products and services referred to or advertised in this presentation are sold by the company or organization named. While these products or services may serve as valuable aids to the independent investor, WAPW does not specifically endorse any of these products or services. The third party products and services referred to, or advertised in this presentation, are available as a convenience to its customers only, and WAPW is not liable for any claims, losses or damages however arising out of any purchase or use of third party products or services. All insurance products and services are offered by life licensed advisors of Wellington-Altus. Wellington-Altus Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. All trademarks are the property of their respective owners.