Tax

Decorative pattern

Estate Planning

Tax matters when your client gets hitched

Pension income amount Amount for children born in 1990 or later Age amount for individuals 65 and over (June 2008) The cake’s been cut, the closets assigned, and your life of living together is in full swing. Whether you’ve gone the formal route or simply shacked-up, come tax filing time the warm and fuzzy will […]

June 3, 2008

6 min read

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Estate Planning

More Wedding Planner stories

(June 2008) Over the years, Advisor.ca has frequently covered the various financial issues surrounding marriage. Here are a few of the related stories we’ve written about in the past. Women not planning for the unexpected: Let’s face it; more men than women are responsible for the household finances. If life goes as planned, then great, […]

By Staff |June 3, 2008

2 min read

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There’s more to buying U.S. real estate than finding a deal

(May 2008) While the sub-prime meltdown has been a disaster for stock markets, it’s been a boon for snowbirds. The S&P/Case-Shiller home-price index, which tracks changes in real estate value changes in 20 metropolitan regions across the United States, dropped 12.7% in April, which means more affordable housing for sun-loving Canadians. But buying a home […]

By Bryan Borzykowski |May 12, 2008

6 min read

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Supreme Court hears interest deductibility case

Wednesday morning, in a jam-packed Supreme Court of Canada, the country’s highest court heard arguments in the now-infamous Lipson tax case, involving interest deductibility and the General Anti-Avoidance Rule (GAAR). So great was the interest in the case that a line snaked its way outside of the courthouse onto the front steps as anxious observers […]

April 23, 2008

4 min read

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Large RRSPs can mean huge tax burden

(April 2008) It’s likely that most advisors remind their clients at least once a year to contribute to an RRSP. But how many tell them to withdraw? A new TriDelta Financial Partners report notes that many clients accumulate a tax bill of more than $1 million between age 55 and when they die. Frank Wiginton, […]

By Bryan Borzykowski |April 18, 2008

4 min read

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Last minute tax tips

(April 2008) With the country’s tax filing deadline just three weeks away, clients are likely scrambling to get their returns done. To make it easier on them, Ernst & Young has compiled its “top 12 tips” to take on taxes. The most important change for the 2007 tax season, says Gena Katz, a tax specialist […]

By Bryan Borzykowski |April 7, 2008

3 min read

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Feed the plan: Talking to clients about RRSPs

(February 2008) Since their introduction in 1957, the RRSP has been the cornerstone of millions of Canadian retirement plans. For many advisors, RRSPs are integral to their book of business and it’s unlikely that will change any time soon. In fact, the buzz around retirement planning has been growing for the last few years — […]

By Staff |February 4, 2008

2 min read

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Spotlight on joint accounts

There’s a good chance at least some of your clients share their bank account with a family member. A husband and wife, a father and daughter — joint accounts have been around since banking began. But just because your client and her son can both access the same cash, survivorship does not guarantee ownership. The […]

By Staff |February 1, 2008

2 min read

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There’s more to joint ownership than you think

(February 2008) Older Canadians are increasingly being advised to transfer assets to their children by making them joint owners of bank or brokerage accounts. This is often bad advice. Merely adding an additional name as co-owner to an existing account is generally not enough. Advisors must take care to ensure that they have created the […]

By Arthur J. Fish and Richard E. Austin |January 31, 2008

8 min read

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Disjointed rights part one: Two similar cases, two different rulings.

(February 2008) An issue which perennially rears its ugly head is the topic of joint ownership of assets, specifically “joint tenants with right of survivorship,” or JTWROS for short. Under a JTWROS account, which is available in all provinces other than Quebec, upon the death of one of the joint owners the property in the […]

January 31, 2008

5 min read

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