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Keep the claws off OAS

As Canada’s baby boomers settle into retirement, many are being caught off guard by their complex financial situations

What happens when an RRSP annuitant dies

When an RRSP annuitant dies, it’s often possible to roll over the RRSP to a beneficiary on a tax-deferred basis.

Help business owners avoid trouble with CRA

When working with business owners, advisors should be aware of the different tax-planning concerns stemming from employer-employee and payer-independent contractor relationships. Each has pros and…

Help biz owners with new tax rules

This year’s federal budget proposed changes aimed at bolstering business-owner tax compliance by eliminating a perceived loophole in GST/HST legislation.

Avoid double tax at death

Owners of private companies are often unaware of the potential for double taxation on death. The following case study will demonstrate how critical careful estate…

Case study: Incorporated client, higher taxes

The government wants more small businesses. So it’s reduced taxes on business income and made some business-related expenses deductible.

How sales charges impact registered accounts

What’s the tax impact of DSC fees? The charges may apply to both registered and non-registered investments, but if clients want to withdraw from RRSPs,…

How to destroy an inheritance

There are two certainties in life – death and taxes

Beware of tax protester schemes

For at least a decade, there have been organizations and individuals who have promoted the natural person argument which suggests that natural persons are not…

Protecting retiring allowance payments

A report by Generational Insight suggests that roughly 41.5% of the Canadian population consists of 'Matures' (those born between 1909 and 1946) and 'Baby Boomers'…

Funding Boomer retirements

Life goes by so fast. Believe it or not but the oldest of the Baby Boomers are set to turn 65 in 2011. This will…

Dealing with RRSP, RRIF losses

In Canada, when an individual dies, he or she is deemed to have sold their assets just before death – a sale that generally results…

Making spousal attribution rules work for you

In an ideal world, your clients would be free to shift income between themselves and a spouse. Should there be a difference in tax rates…

Packing away your TFSA

Many consider the Tax-Free Savings Account (TFSA) to be the most versatile savings account available to Canadians. Not only does it provide tangible benefits such…

The importance of the principal residence exemption

For many Canadians, their home is their most valued asset. It is often considered the most significant purchase, and might provide the greatest return relative…

Employment versus self-employment

Alex recently lost his job with a local plumbing company. After several weeks off, he was approached by a competing firm, Charlie’s Plumbing Agency, with…

TFSAs and estate planning

Much has been written about the new tax-free savings accounts: the accumulation of tax-free income, the ability to re-contribute withdrawals and the capacity to access…