Tax

RRSP, TFSA integral to a retirement plan

The popular notion that RRSPs are only tax-deferred while TFSAs are tax-free is rooted in misconception, says Jamie Golombek, managing director of tax and estate planning at CIBC.

By Vikram Barhat |February 23, 2011

3 min read

Create an RRSP exit strategy

As one of Canada’s best savings programs and biggest tax breaks, the Registered Retirement Savings Plan (RRSP) should be wildly popular. However, Canadians are not taking full advantage of them. Year after year, over 90% of taxpayers eligible to make RRSP contributions fail to make the maximum contribution, leaving unused contribution room on the table.

By Michael Callahan |February 23, 2011

7 min read

CRA to give 10/8 decision

Back at the December 2008 Canadian Tax Foundation Conference, the CRA announced it was preparing to audit loans secured with life insurance policies, also known as 10/8 plans.

February 18, 2011

2 min read

Business owners need proactive tax planning

A heavy tax burden is a grave concern of surviving families as many Canadian family businesses owners take an approach to tax planning that is ‘too little, too late’, according to the Canadian results of PwC’s latest Global Family Business Survey. The study noted that the majority of Canadian family business owners are not fully […]

By Vikram Barhat |February 17, 2011

3 min read