How to Pay Less Tax Through Your Business?

Pay Less Tax Through Your Business

This week’s federal government budget illustrated that the federal government may be easing off its assault on small business owners.  They are moving forward with the proposal to eliminate the tax on split income (TOSI) for dividends paid to non-participating family members within a business.  They have eased off on the passive investment income that a business owner can keep … Read More

Taming Market Volatility Using Segregated Funds

market volatility using segregated funds

Locking In Gains, Creditor Protection, Principle Investment Guarantees,  Estate Planning are a Few Reasons why you may want to look at Segregated Funds as an Investment Option   Asking the average investor if they regret being in equities the past 8 years, you would have heard a resounding “NO”…. until February 2018 which saw a huge market correction.  Many boast … Read More

How to Leave a Legacy for your Grandchildren?

how to leave a legacy

So how do you leave a legacy behind and not compromise your current financial situation?  If you are a grandparent wishing to provide an asset for your grandchildren without compromising your own financial security you may want to consider an estate planning application known as cascading life insurance.   Because permanent life insurance is a significant cost to purchase in your … Read More

CPP Should You Take it Early?

CPP should you take it early

The most recent rules governing CPP were introduced in 2012 and they took full effect in 2016.  The earliest you can take your CPP Pension is age 60, the latest is 70. The standard question regarding CPP should you take it early? While you can elect to start receiving CPP at age 60, the discount rate under the new rules … Read More

Business Owners: Have you Maxed Out Your RRSP Contributions for the Year?

Maxed out your RRSP contributions

The challenge for many business owners, they either haven’t contributed enough to one’s RRSP or they’ve maxed out your RRSP Contributions for the year.  The challenge is RRSP contribution room is derived from one’s T4 income from previous years.  If you choose to take money from your business in the form of a dividend, this doesn’t count towards RRSP eligible … Read More

Business Owners: TFSA or RRSP?

TFSA or RRSP

Business owners have far more options available to them they may realize.  The question may not be whether TFSA or RRSP but instead what is the best investment vehicle for business owners?  TFSAs are available regardless of income, that is they don’t need T4 income to qualify.  Therefore dividend income which doesn’t qualify as T4 income is eligible to be … Read More

How Can Business Owners Fund Their Retirement?

how can business owners fund their retirement

In light of all the changes proposed by the Federal Liberal Government in July 2017, the sensitivity around the excessive taxing of small business owners has raised some eyebrows.  The proposed changes took into consideration heavily taxing any passive income that exists within a business, scrutinizing how business owners sprinkle income to family members and some other controversial measures.  Even … Read More

Severe Consequences of Increased Minimum Wage

increased minimum wage

Kathleen Wynne and her Ontario Liberal government’s decision for an increased minimum wage from $11.40 to $14.00 on January 1, 2018 and to $15.00 on January 1, 2019 is nothing more than an attempt to grab votes.  Ironically, the people she is trying to woo will probably become the casualty of this fiscal irresponsibility. A lot has been written about … Read More

Why Segregated Funds? Try Investing With a Safety Net

Why Segregated Funds

8 Reasons Why Segregated Funds Might Be a Better Investment Option for You Investing in today’s environment is not for the faint of heart. However, fortunately for Canadians, Segregated Fund products offered by many life insurance companies provide a safety net for nervous investors. Fund products present some interesting opportunities for people looking to get more security in their investment … Read More

Estate Planning for Blended Families

Relationships are challenging at the best of times.  The complexity of two families coming together under one roof is likely anything but harmonious.  The intricacy of two families’ merging children can cause resentment, acrimony and imbalance.  This can cause a tremendous amount of stress to any relationship, let alone when the decision to blend two families under one roof.  The … Read More