Budget 2019: Everything you need to know

This election budget took aim at executives and those who use IPPs, but offered goodies for younger and older clients. Read all about these and other issues that matter to advisors.

Budget 2019 could mean more tax payable for fundholders Department of Finance expects to gain $350 million by 2024 from proposals

Liberals to impose $200K threshold for tax treatment of stock options New rules target executives at large firms

Federal budget introduces annuities deferred to age 85 The plan will allow retirees to keep more savings tax-free until later in retirement

Clients day trading in their TFSAs? They’re ultimately liable for the tax Issuers are only “joint and severally liable” to a point

Liberals offer relief to RDSP holders who lose DTC eligibility Proposals in the 2019 budget change the time limitations for closing plans

Help for first-time homebuyers Find out if your client qualifies for the new homebuyer incentive

Feds crack down on commuted value IPPs Budget measure aims to quash planning that seeks to use IPPs to circumvent prescribed transfer limits

Tax tidbits from Budget 2019: Golombek Five tax changes clients may ask about

Tax implications of the new first-time homebuyer incentive Experts highlight the missing details

Feds to introduce automatic CPP enrolment, raise GIS ceiling The moves are among several budget measures aimed at retirees

Industry reacts to federal budget measures The skills training tax credit, as well as changes to the stock option tax regime, have been met with skepticism

Government targets certain investment funds that use forward contracts The change takes aim at funds that seek to reduce taxes through dividend contracts

Other budget highlights Liberals to offer tax credits for skills training

Federal government’s deficit to grow to $19.8B in 2019-20 fiscal year Federal debt as a percentage of GDP is expected to be 30.7%

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.