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An individual pension plan can be an effective vehicle for funding a business owner's retirement and minimizing their personal taxes. It can also play a part in corporate tax planning. And yet it remains something of a rarity in Canada.
By Al Emid |July 26, 2011
4 min read
Tax News
Reader alert: This is part 2 of a five-part series. • Part 1: Tackling tax-efficient investing • Part 2: Capital gains mean tax-efficient investing • Part 3: Tax-efficient investing and dividends • Part 4: Magic of tax-efficient bond investing • Part 5: Tax-efficient investor behaviour Tax-efficient investing, as it relates to dividends, revolves around these […]
By André Fok Kam |July 22, 2011
9 min read
The federal government has announced amendments to the Income Tax Act, to ensure that the spirit of its Tax Fairness Plan is followed. The Tax Fairness Plan was introduced in 2006 to stem the proliferation of income trusts, essentially treating their profits in the same way as corporate profits. “These proposed measures will ensure that […]
By Staff |July 20, 2011
2 min read
In matters of tax compliance, such as filing on time or ensuring you properly report all your income or ownership of foreign income-producing assets (where the cost amount is above $100,000), the penalties for not properly following the rules or for negligence are severe.
By Jamie Golombek |July 18, 2011
Earlier this year, one of Canada's largest employers boosted its workforce by thousands of people, without increasing its payroll by a cent. In fact, if you are a Canadian taxpayer or an accountant, lawyer, financial planner, investment advisor, or insurance agent - anyone who receives fees for assisting Canadian taxpayers with a tax plan that provides tax benefits - you have a new employer: the Canada Revenue Agency.
July 8, 2011
8 min read
Estate Planning
Reader Alert: This is a follow-up story to ‘Puppet Trustees’ Get a Second Chance. Two lower court rulings in the Garron Family Trust et al. v. The Queen case established central management and control of trust assets, rather than the residence of trustees, as the key test for determining the residence of a trust. That […]
By Dean DiSpalatro |July 8, 2011
5 min read
The practice of sheltering income from Canada’s tax man by setting up what amount to nominal trustees in a tax haven like Barbados was dealt a severe blow in a recent court case. But the Supreme Court of Canada has decided to hear the case anew, a decision that may breathe new life into a […]
By Dean DiSpalatro |July 6, 2011
3 min read
Set it up and leave it alone?
By Melissa Shin |July 5, 2011
With the advent of pension income splitting in 2007, many think spousal RRSPs aren’t necessary
By Gena Katz |June 24, 2011
Advisor.ca is proud to congratulate Yves Bonneau, Editor in Chief of our Quebec affiliate Conseiller.ca, on winning the Kenneth R. Wilson (KRW) Award for Best Editorial in 2010. The KRW Awards recognize the best in Canadian business press journalism. Here is his Silver Award winning editorial: In 1999, Claude Laferrière, professor of tax policy at […]
By Yves Bonneau |June 10, 2011
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