Understanding the RRSP Deduction Limit Statement
Click here to download the PDF. Every year clients look at the RRSP Deduction Limit Statement on their Notice of Assessment and ask similar questions: • Is there a difference between a RRSP contribution and a RRSP deduction? • I have RRSP deduction room and unused contributions — what does this mean? • My unused […]
Calculating 2024 RRIF Minimum Withdrawals
Download this article as a PDF. For clients who have rolled their Registered Retirement Savings Plan (“RRSP”) over to a Registered Retirement Income Fund (“RRIF”) or who have an existing RRIF account in 2023, the following information outlines how their 2024 minimum withdrawal will be calculated. All RRIF withdrawals are reported as pension income on […]
January Market Insights: Is There Something Rotten In The State Of Canada?
January 17, 2024 Part 2: Canada’s 2024 Economic Storm In the middle of difficulty, lies opportunity. – Albert Einstein Download this PDF here. In this sequel to Is There Something Rotten in the State of Canada? we delve further into the complex web of monetary and fiscal policies that seem at odds with one another, evoking the […]
The New Rules for Trust Reporting: Four Unexpected Scenarios
January 16, 2024 Download this PDF here. The new enhanced trust reporting rules (“new trust rules”) may catch certain Canadian trusts or informal trust arrangements considered Bare Trusts, that previously did not have to file an annual Trust Income and Tax Information Return (“T3 Return”). The new trust rules will force the filing of annual […]
Understanding the New Reporting Requirements for Trusts
January 16, 2024 Download this article as a PDF. 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 […]
Q4 2023 Quarterly Compass Newsletter
As we move forward, we remain steadfastly committed to continual improvement. In this spirit, we have introduced a survey tool that we will send out prior to each Wealth Road Map Review Meeting – the objective is to allow for reflection and the construction of an agenda based on your areas of interest. Continued feed […]
Deadline Reminder: 2023 Prescribed Rate Loan Interest Payment
January 9, 2024 Download this PDF here. Clients who have implemented a prescribed rate loan should be reminded to pay the appropriate interest relating to the 2023 year on or before January 30, 2024. What is a prescribed rate loan? A prescribed rate loan is one of the few income-splitting opportunities provided to Canadians that does […]
Investment Insights – Winter 2024
For 2024: Focus Less on the Headlines It has been 45 years since BusinessWeek declared the “Death of Equities,” warning that rampant inflation was “destroying the stock market” and “to regard the death of equities as a near-permanent condition.”1 These dramatic prognostications haven’t subsided over time, likely because negative news is more appealing. When […]
Final Thoughts For 2023: Unveiling The Path To A 1.75% Federal Funds Rate
December 15, 2023 Balancing Churchill’s Caution, Truman’s Expectations, And Gandhi’s Wisdom In The Age Of Chaos “I always avoid prophesying beforehand, because it is much better policy to prophesy after the event has already taken place.” – Winston Churchill Download this PDF here. In the realm of economic forecasting, the concept of a trilemma emerges […]
Year-End Personal Tax Tips for 2023
Download this article as a PDF. Tax planning is a year-round activity, however as 2023 comes to an end, there are several key opportunities to take advantage of available credits, deductions, and savings. Here area few eleventh-hour strategies to consider for 2023: Tax-Loss Selling Securities which are in a loss position in non-registered accounts can […]