Tax

The new rules

(July 2006) The Conservatives made good on their pre-election promise to encourage the donation of publicly traded securities (including mutual funds and segregated funds) to charity by completely eliminating the tax on any accrued capital gains arising from the disposition to charity. This change opens a huge window for you to broach the topic of […]

July 25, 2006

4 min read

Expenses for advice

(July 2006) A recent tax case (Emmons v. The Queen, 2006 TCC 269) decided last month will be of particular interest to advisors as it deals with a broker’s ability — and inability — to deduct various work-related expenses from their employment income. Ronald Emmons is a financial advisor with BMO Nesbitt Burns in Saskatoon. […]

July 7, 2006

3 min read

Taking opportunities

(June 2006) Batina and Armand Milo live very comfortably in Vancouver with their two teenage children. Batina is an ad exec who earns $180,000 annually. Armand left the business world a few years ago to pursue his real love, sculpture; and he’s now earning about $25,000 annually as an artist. They’ve been good savers and […]

By Gena Katz |June 16, 2006

3 min read

Clawbacks issue for some

(May 2006) In 2005, the Old Age Security clawback, equal to 15 cents on the dollar, began at income over $60,806. That being said, there are very few seniors in Canada that have income that even approaches this level. If you examine the data, 95% of all eligible seniors receive their full OAS, while 98% […]

May 24, 2006

3 min read